Forico joining in the $1 billion Surrey Hills efuel plant party with HIF Global

Private forestry company Forico has been given the option to be an investor in the $1 billion efuel plant that has been proposed outside of a northwest city.

Concept designs of what the HIF Global efuel plant at Surrey Hills might look like. Picture: Supplied.

The proponents behind a $1 billion efuel plant outside Burnie have signed a memorandum of understanding with a Tasmanian private forestry company.

Through the agreement, HIF Global will use Forico’s Surrey Hills site for the efuel plant and also use the company’s supply of biomass and water.

Forico also has the option to invest in the efuel plant under the agreement.

The proposed efuel plant at Surrey Hills will be the first in Australia.

HIF Asia Pacific CEO Ignacio Hernandez said he was excited about the agreement.

“Our agreement with Forico secures an ideal location to construct the HIF Tasmania eFuels facility and identifies the sourcing strategy for our biomass,” Mr Hernandez said.

“We look forward to working with Forico to put Australia at the forefront of the global effort to reduce emissions from the transport sector.

“We have initiated engineering design and are now closer to creating approximately 200 permanent jobs in Tasmania’s North-West.”

Evangelista Albertini, CEO of Forico and Ignacio Hernandez, CEO of HIF Asia Pacific. Picture supplied.

Forico CEO Evangelista Albertini said it had been working closely with HIF to develop the efuel plant.

“An efuel plant is perfectly suited to make best use of Tasmania’s abundant renewable energy and sustainably sourced biomass from our Forestry Stewardship Council certified estate,” Mr Albertini said.

“Having visited HIF’s impressive operating plant in Chile, we are convinced that efuels will play a vital role in the fight against climate change by decarbonising the world’s existing vehicle fleet.

“Forico is particularly motivated by the opportunity to use biomass residues from our plantation forestry operations in the production of efuel, a highly innovative solution that further underlines the importance of plantation forestry as an important contributor to managing climate change.”

HIF Global CEO Cesar Norton said Australia had the potential to become a key player in the efuel game and that the proposed plant in northwest Tasmania was the first step in achieving that.