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HAMR Energy has closed a $10 million Series A funding round, backed by Qantas, Airbus, and Thyssenkrupp Uhde, to enhance its low-carbon fuel projects in Victoria. The investment will advance the Portland Renewable Fuels project, which aims to produce 300,000 tonnes of low-carbon methanol annually from plantation forestry residues.

This methanol can serve as marine fuel or be converted into sustainable aviation fuel (SAF). Additionally, HAMR Energy plans to develop Australia's first major methanol-to-jet fuel facility, with a capacity exceeding 135 million litres of SAF annually, creating hundreds of jobs. Global SAF demand is projected to reach 500 million tonnes by 2050.