The funding will support the development of Licella’s owned and led commercial projects, including Project Swift – a proposed regional biorefinery in Queensland, Australia, that will convert sugarcane residues into low carbon liquid fuels such as sustainable aviation fuel (SAF) – and the Altona Project, Licella’s advanced recycling facility proposed for Victoria, Australia.
In addition to funding, the alliance with DEV provides strategic support, access to global networks, and potential pathways to co-develop projects with MCG business units – directly supporting Licella’s ambition to rapidly scale its proprietary Cat-HTR™ hydrothermal liquefaction (HTL) technology.
This partnership accelerates the commercial deployment of Licella’s platform to meet growing demand for proven, scalable decarbonisation solutions – particularly in hard-to-abate sectors such as aviation, shipping, and chemicals, where sustainable fuels and circular feedstocks are essential.
The announcement follows recent news that a Japanese Consortium – including Mitsubishi Chemical Corp., Japan Airlines, and Marubeni Corp. – will undertake a pre-feasibility study into a commercial-scale facility in Japan producing SAF, bio-naphtha, and renewable diesel from forestry residues. The project envisions potential use of Licella’s Cat-HTR technology, further demonstrating confidence in the platform.
Dr Len Humphreys, CEO of Licella, said: “We are delighted to welcome DEV as a strategic partner. Their support further validates the performance and scalability of our platform and reflects growing global demand for scalable, low carbon solutions. DEV’s deep industry insight and connection to Mitsubishi Chemical Group aligns strongly with our commercial projects and global strategy.”
Curtis Schickner, President of Diamond Edge Ventures, added: “We see immense potential in Licella’s technology to accelerate decarbonisation across transport fuels and chemicals. This alliance reflects our belief in the strength of Licella’s team, the maturity of its platform, and the strategic relevance of these solutions to Mitsubishi Chemical Group’s future as a green specialty company.”
This partnership represents another important milestone in Licella’s journey to scale globally – unlocking new pathways for circular chemicals and sustainable fuels from a wide range of biomass and plastic feedstocks.