Friday, March 29, 2024

Wood biofuels plan goes to stage 2

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Commercialising a biofuels venture in New Zealand has moved a step closer with a business case being built to attract investment to the sector.
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Te Uru Rākau is issuing a tender for organisations capable of developing a business case for wood-based biofuel products identified in an earlier stage one report that included biocrude oil, liquid biofuels and solid fuels, including wood pellets.

This case could then be presented to potential investors.

Director of sector investments Jason Wilson says NZ has a large reserve of pine that would provide the feedstock for such fuels, but investment was needed to first determine if there was demand and viable supply.

“The Government is committed to moving NZ to a low-carbon future, and forestry has a major role to play in that future,” he said.

The work is part of the forestry and wood processing industry transformation plan, one of six transformation projects prioritised by the Government.

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