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(April-2002) LGSP (WA) in a first with biodiesel investment
The WA Local Government Superannuation Plan (LGSP), which has assets of $465 million and 22,000 members, is believed to be the first Australian super fund to invest in a biodiesel project, after making a $2 million investment in Australian Renewable Fuels.
LGSP chairman Alex Bajada says this company uses Austrian technology to process waste fats into a biodegradable and non-toxic biodiesel fuel, which significantly reduces exhaust emissions.
Australian Renewable Fuels, a subsidiary of Amadeus Energy, is building the first commercial scale biodiesel plant in Australia. It will initially produce 40 million litres of biodiesel a year, utilising low-grade tallow. The plant is in Western Australia, but the company plans to open further plants in other states within the next three years.
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