16 March 2024
Zero Petroleum, the world’s leading producer of synthetic fuel has signed a Memorandum of Understanding (MoU) with the South Australian Government to explore investment opportunities in South Australia.
The company will demonstrate its unique product at this weekend’s Adelaide Motorsport Festival, with a motorcycle powered by the company’s synthetic fuel to race around Victoria Park.
Synthetic fuels are liquid fuels produced artificially using renewable resources, instead of fossil fuels such as coal, gas or oil.
Zero is exploring opportunities for the rapid deployment of a revolutionary synthetic fuel plant in South Australia, with production commencing as soon as 2026.
Zero’s proposed commercial-scale production plant would combine the company’s technology with green hydrogen, renewable power and carbon capture, potentially leading to the provision of fossil-free fuels to be used in existing combustion engines, including high performance machines, transport infrastructure and aviation.
The key element in the process is green hydrogen, with Zero exploring options to use hydrogen produced in South Australia as part of the State Government’s Hydrogen Jobs Plan, part of the State Prosperity Project.
Should it proceed, Zero’s proposed plant would produce six to 12 million litres of 100 per cent carbon-neutral gasoline, jet, and diesel fuel per year, reducing greenhouse gas emissions by up to 60,000 tonnes each year.
It would create significant local economic growth, including more than 150 construction jobs and up to 30 full-time plant operations and commercial roles, supplemented by a wide range of engineering services, technician and trade needs.
The company was founded in 2020 by Formula 1® legend Paddy Lowe and renowned academic Nilay Shah.
Lowe worked in Formula 1® teams for more than 30 years, and was the former technical director at Williams, McLaren and Mercedes. The distinguished engineer developed some of the leading strategies and technologies for championship-winning cars.
Zero combined F1®-style development and chemical mastery to produce its breakthrough energy solution in just one year.
Since then, the company has become famous for its synthetic fuelling stunts, including a flight with the Royal Air Force that secured the Guinness World Records® title of ‘first aircraft powered by synthetic fuel’.
The company has already formed key partnerships with industry leaders such as Boeing, Rolls Royce and the Abu Dhabi National Oil Company, and recently teamed up with Stake F1® Team Kick Sauber to become the first Formula 1® Official Partner that produces synthetic fuel.
The UK-based company has joined motor enthusiasts from all over Australia to participate in this weekend’s Adelaide Motorsport Festival.
The Festival is an opportunity to showcase South Australia’s manufacturing strength to attract national and global investment to the state.
Investors will learn about the state’s business opportunities at an invite-only investment symposium dinner hosted by Premier Peter Malinauskas.
The festival is held from Saturday 16 to Sunday 17 March. Further information on the program of events is available at www.adelaidemotorsportfestival.com.au
To learn more about how the Department for Trade and Investment supports companies looking to expand or establish within the state visit www.invest.sa.gov.au
Quotes attributable to Peter Malinauskas MP, Premier
Through our State Prosperity Project, we are positioning SA to be a leader in the global green transition, which will ensure there are more jobs for South Australians and a stronger economy.
Signing the MoU with Zero Petroleum is an exciting development to explore a future partnership which could see a locally made product fuel high performance machines across the globe.
Events like the Adelaide Motorsport Festival provide the ideal opportunity to showcase South Australia’s potential to investors from around the world.
Quotes attributable to Nick Champion MP, Minister for Trade and Investment
The potential to have Zero Petroleum’s manufacturing facility located in South Australia, will add to our booming plans for the state’s future prosperity.
We have an opportunity to grow South Australia’s economy by providing the key ingredients needed for global decarbonisation.
SA’s economy is going from strength to strength having been ranked number one in the nation by CommSec, and events like the investment symposium at the Adelaide Motorsport Festival help foster new opportunities for growth.
Quotes attributable to Paddy Lowe, Zero Petroleum
The Government of South Australia has transformed the region into a global hub of renewable solar and wind power development, and Zero is excited by the prospect of joining its thriving green hydrogen economy.
We have engaged with government stakeholders at all levels, who have earned their reputation as the most forward-thinking government in sustainability, and there is a clear pathway for synthetic fuel to help Australian consumers and transportation operators reduce net carbon emissions from existing vehicles.
Zero’s synthetic solution drops into any engine without alterations, so whether you’re powering an exotic motorbike or critical transportation infrastructure, the result will be superior carbon-neutral performance. The future is bright for synthetic fuel in South Australia.