Cyan Ventures launches Green Fuels Accelerator to advance Australian SAF projects

Cyan Ventures on June 10 launched a Green Fuels Accelerator that selected its first seven Australian low-carbon liquid fuel projects, a move aimed at pushing SAF and other low-carbon fuels from concept to financial close and commercial production. The pilot program is backed by the Australian Renewable Energy Agency, with support from Qantas, Boeing, Mission Possible Partnership, Climate Tech Partners and SYSTEMIQ.

The accelerator is designed to fill the gap between promising pilots and bankable plants. Cyan Ventures said the selected projects will receive tailored regulatory, technical, commercial and finance advisory support, with the stated goal of speeding up financial close. The first cohort spans Queensland, Western Australia and New South Wales, with one report saying five of the seven projects are in Queensland, one is in Western Australia and one is in New South Wales. Many of the projects are focused on converting agricultural waste or ethanol into low-emission fuels for aviation or maritime use.

The program lands as Australia sharpens its industrial policy around domestic fuel security. ARENA was named delivery agency for the federal government’s $1.1 billion Cleaner Fuels Program on May 13, 2026. That program is set to provide production-linked incentives over 10 years for projects approaching final investment decision and near-term production. ARENA has also said it previously committed $33.5 million to five projects under its Sustainable Aviation Fuels Funding Initiative and has up to $250 million available for low-carbon liquid fuels through the Future Made in Australia Innovation Fund.

For Qantas, the need for domestic supply is already clear. The carrier said in May 2025 that Australia’s largest commercial SAF import into Sydney was nearly two million litres, and it has said it has committed more than $100 million from its $400 million Climate Fund to SAF-related initiatives, including a planned Townsville biofuel refinery that could produce up to 100 ML of SAF and 10 ML of renewable diesel. Qantas also said in September 2025 that Australia did not yet have an established SAF industry.

The policy case is broadening beyond aviation. The Australian Parliament’s library says about 20% of Australia’s liquid fuel comes from domestic refineries, while the 2026-27 Budget said Canberra will introduce a demand measure for new low-carbon liquid fuel production, build a $3.2 billion Australian Fuel Security Reserve and raise diesel and jet fuel reserves to 50 days. A CEFC-Deloitte analysis said Australia could build a $36 billion low-carbon fuel industry and cut emissions by 230 million tonnes by 2050, putting pressure on the market to turn the new accelerator into operating capacity, not just another project pipeline.