Australian clean energy developer Pacific Heat and Power has begun trading as Valorify as it advances a portfolio of bioenergy projects which are poised to become the largest in the southern hemisphere when constructed.
The newly launched Valorify name will underpin the company’s next phase of growth, as major projects progress through the planning phase to meet a growing demand for affordable low emissions energy.
Valorify CEO Dr Scott Grierson says the transition to the new trading name comes at a pivotal moment in the global energy transition.
“As the transition to renewable energy picks up pace, we are excited to bring affordable, carbon neutral bioenergy to the Australian market,” Dr Grierson said.
“Our developments offer a way for manufacturers and industrial energy users to decarbonise their operations and simultaneously take control of energy costs,” he said.
Valorify’s parent company Pacific Heat and Power was founded in 2017 to develop clean energy projects, with a focus on scaling up bioenergy technologies to support hard-to-abate sectors to reduce emissions and energy costs. The Valorify name was inspired by the process of valorisation, where waste and low value materials are enhanced through deliberate actions.
While Australia has been installing large amounts of wind and solar to decarbonise the electricity network, there are fewer options available for industries that rely on gas. Electrification and efficiency improvements will be suitable in some applications, but bioenergy offers a way to deploy proven technologies at scale without the need to replace existing infrastructure.
“We are confident that bioenergy will make an important contribution to the future energy mix, which is why we are working with large global partners to produce bioenergy at an unprecedented scale,” Dr Grierson said.
Valorify’s flagship Ararat Bioenergy project will convert residual materials from cereal farms in Victoria’s western districts into carbon neutral renewable biogas. Together with other projects across south-east Australia, Valorify’s portfolio will offer energy savings of up to 30 per cent for local manufacturers and support industrial development in the regions.
“We created this company to fill a gap in the Australian energy market and help to accelerate efforts to achieve net zero emissions targets. We are excited to launch our new name and take important steps towards growing the Australian bioenergy industry,” Dr Grierson said.
