Ampol gets $100 million funding to expand alternative energies operations
Published on: Aug 12, 2024
The company will allocate the public funding to support sustainable initiatives such as EV charging and green hydrogen refueling infrastructure.
The Clean Energy Finance Corporation (CEFC) has given Ampol $100 million to help reduce emissions in the transport sector.
The company has confirmed this capital will be implemented to drive sustainable initiatives. Potential investments include the roll out of electric vehicle (EV) charging and green hydrogen refueling infrastructure, the installation of photovoltaic solutions, and developing alternative energy sources such as biofuels and sustainable aviation fuel (SAF).
"Ampol’s rich history is cemented in supporting Australia’s diverse transport network and we are committed to working with the Government, our partners and our customers to invest in solutions for the energy transition that lies ahead for us all," stated Matt Halliday, Ampol Managing Director and CEO of Ampol.
The number of EVs in Australia more than doubled in 2023 year-on-year and made up about 8% of new car sales in May 2024, according to data from the Electric Vehicle Council. There are now more than 180,000 EVs on Australian roads but just 812 charging stations across the country by the end of 2023.
According to the International Energy Agency, Australia had one of the lowest amounts of public charging capacity per electric light-duty vehicle in 2023, with 68 vehicles per charging point. This compared with Germany which had 25 vehicles per charging point, France with 14 and China with 8.
