“The world’s climate emergency is Australia’s jobs opportunity, and this is true for the aviation industry which is looking to reduce emissions – a homegrown sustainable aviation fuels industry could create more than 7,400 jobs by 2030, most of them in regional areas,” Minister Bowen said.

“Australia’s strong agricultural sector means we could be a global leader by scaling up domestic production of renewable fuel for exports, which could help reduce global aviation emissions significantly.

“This investment means the beginning of airlines being able to source their fuel from a variety of sources and decrease our dependence on importing fuels from overseas.

Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King said Australia both had the need and resources to support a SAF industry.

“And with enormous volumes of tallow and canola oil currently shipped offshore due to attractive incentives offered by other governments, there is huge potential for Australia to become a sustainable fuels powerhouse.

“The outcomes of the ARENA-backed projects could have huge implications for regional Australia, and we will be closely following them as a government.”

ARENA will open applications for grants by mid-July.