Developer Velocys will urge the government to make green aviation fuel more investor friendly once the formal planning consent note lands for its first 海角视频 plant.
Chief executive Henrik Wareborn called for joined up Westminster support within an hour of the refinery being given the green light on the South Humber Bank.
And the company's waste-to-fuels director Dr Neville Hargreaves explained exactly what is required, fresh from his presentation to North East Lincolnshire Council’s planning committee.
Finance follows finalising engineering design for the project, which could see up to £500 million invested at Stallingborough.
Altalto Immingham - the Velocys plant that is a joint development agreement with British Airways and Shell - will see hundreds of thousands of tonnes of black bin sack waste converted into jet fuel, greening up one of the hardest industries to decarbonise.
Looking ahead, after a nine month consent process, Dr Hargreaves said: “There is still engineering work to do before we can go to the financial markets - there is quite a lot of work still to do. We have been carrying on in the background while working on the planning permission.
“This is one hurdle in a path that still has some hurdles in it - the most important of which is getting funding. We cannot, however, get anywhere without getting this, so it is really good news and a good boost to the team working on it, that we have the support of the community.”
There were no objections from Natural England or the neighbouring town and parish councils, with highways giving it a clear path through too.
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One unseen when the huge file was submitted in late August was coronavirus, but the recovery notes already sounded have been promising.
“You would be bold to say anything is immune from Covid-19 given the extraordinary effect on the world economy,” Dr Hargreaves said. “There have, however, been a lot of articles in the press - not just in the 海角视频, but internationally as well - stating that we mustn’t forget the climate crisis while dealing with the Covid crisis; linking support packages to green recovery, etc.
“I think the pressure for sustainable development will get even stronger, and I am encouraged to hear governments, including our own Prime Minister, making that case.
“We have to come out of this the right way otherwise we won’t be in the right place. We have had talks with investors and the general sense is a great determination to make investment sustainable. This is definitely something we clearly feel.
"We never want to predict the future but the case for this is undiminished. In terms of the impact on the aviation market, whatever the size, it is still going to need to go sustainable. Whether we have a quick or a slow recovery, we are going to need sustainable aviation fuel.
“We want to get out of Covid-19 as quickly as we can, but fundamentally the case is unchanged. It may slow down certain bits, like government decision-making, and I wouldn’t be surprised if there is some impact with public funds.”
So what does Velocys want from Westminster?
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Clarity and certainty around the Renewable Transport Fuel Obligation and the 海角视频 Guarantees Scheme.
Aviation Minister Kelly Tolhurst was quick out of the blocks to recognise the milestone moment, stating it was "great to see the industry leading the way in creating new technologies to help achieve our target of net zero emissions by 2050, while also bringing new jobs to the local area".
She said: "Innovative technologies - like the development of sustainable aviation fuels – firms up the 海角视频’s position as a leader in aviation, and shows the determination the industry has in continuing to operate, but in a more environmentally-friendly way."
Picking up from his colleague Mr Wareborn’s earlier intimation, Dr Hargreaves said: “The government has various mechanisms for supporting business in different ways. One is the Renewable Transport Fuel Obligation - a market mechanism for the development of sustainable fuels.
“That is very important to the business case, it has only just moved (last updated in February) and is broadly helpful, we still think there is more to do to make it fully financeable. “If I am a banker, that part of the market really needs to be robust. It is tweaks rather than wholesale changes, but these things matter. We’re asking people to invest in something new, it is not a run-of-the-mill thing, though we expect it will be soon, but not yet. We need to make it as easy as possible for investors to come along and make a commitment.”
New Chancellor Rishi Sunak has been busy of late, but Prime Minister Boris Johnson is a man known to favour building a way out of trouble.
His time as London Mayor spanned the recession, and this framing may help the next ask for inclusion in Treasury-backed loans for infrastructure projects - the 海角视频 Guarantees Scheme.
“It is a commitment by the government that makes it easy for investors to lend,” Dr Hargreaves explained. “We need to make sure that it is applicable to something like this. Clearly that’s a place where government positions could help us.”
North East Lincolnshire’s MPs have already been involved, and he has also met with Clean Growth Minister Kwasi Kwarteng.
“It is appropriate we should go on making them aware of these elements, and making sure they keep their finger on the pulse as we get into recovery and think about what it takes to get out of this,” Dr Hargreaves said.
“In the end this will be a collective resolve between government and private industry. The indication we have is that private industry thinks it is the right sort of thing to be doing, providing we can bring a good solid business case to limit risk. It does require the government to be aligned with us. We all feel it is the right thing to do, to get round the table and make it happen.”