The National Reconstruction Fund Corporation (NRFC) is investing $55 million in senior secured debt into Global Resource Recovery (NT) Pty Ltd (GRR), a Northern Territory-based company that recycles chemical waste to renew products for industry use.
GRR’s innovative waste recycling facility in Darwin is the first of its kind in Australia. The facility recycles highly degraded glycol, amines and other industrial chemicals produced by the oil and gas industries that would otherwise need to be disposed of as toxic waste. The company's recycling process allows glycol and amines to be reused, reducing industrial waste.
Glycols are used to maintain pipes in LNG processing, preventing freezing, blockages and corrosion. Amines are used to remove carbon dioxide from the gas stream prior to further processing. GRR's process recycles waste glycols and amines to a high purity needed for such applications, providing a less carbon emissions intensive alternative to the manufacture of virgin glycol and amines.
NRFC investment will enable GRR to access and build out the company’s Darwin-based storage and transport facilities, which are supported by long-term contracts. This expansion will improve the efficiency of safe material transfer from ship to facility and unlock storage capacity, providing Australia with sovereign capability around waste processing and, over time, reducing the need to import chemicals required by key industries.
The debt investment is made through the NRFC's Value Add in Resources Priority Area and will create new skilled technical jobs at the Darwin Port site as well as flow-on benefits for local contractors. The NRFC's investment is forecast to create 115 temporary jobs during construction and an additional 11 full-time jobs once the chemical plant is fully operational.
NRFC CEO David Gall said, “GRR is an exciting investment in our Value Add in Resources Priority Area. This investment shows the strong benefits improved resource stewardship and circularity can contribute to Australia’s industrial future, while also creating high-quality jobs in Darwin in the present. It strengthens Australia's industrial capability to recover, process and reuse valuable chemical resources domestically.”
“GRR’s facility shows what can be achieved as a result of Australian innovation and knowhow, transforming a disused biodiesel and glycerine plant into a facility that is able to recycle chemical waste that might otherwise end up as landfill.”
“The expansion of GRR’s facility signals positive growth for Darwin Port, bringing new activity to a previously idle industrial facility and fostering job growth in the region. The NRFC is providing flexible capital that would otherwise by challenging for the company to obtain, making possible a project that would be unlikely to progress without our presence."
GRR CEO Mike Everton said, “NRFC’s investment is a significant milestone for GRR and provides us with the capital to accelerate the next stage of our growth in Darwin.
“We have demonstrated that industrial chemicals traditionally treated as waste can be recovered, processed and returned to industry as high-quality products. This investment will allow us to expand the infrastructure required to do that at greater scale, including our storage and logistics capability at Darwin Port.”
“Importantly, this is about building long-term sovereign capability in Australia. By recovering and reusing valuable chemicals domestically, we can reduce waste, support our customers’ sustainability objectives and, over time, reduce Australia’s reliance on imported chemical products.”
“We are extremely pleased to have the NRFC supporting GRR as we move into this next phase of development.”
GRR has existing tank long term storage agreements and offtake arrangements with international customers including IXOM, a leading Australasian chemicals manufacturer and distributor.
[ENDS]
About the National Reconstruction Fund Corporation (NRFC)
The NRFC is Australia’s sovereign investor in manufacturing capability. It has $15 billion to invest through direct loans, equity investments and loan guarantees across eight priority areas: renewables and low emissions technologies; enabling capabilities; defence capability; transport; value-add in resources; value-add in agriculture, forestry and fisheries; medical science; and industrial manufacturing and critical supply chains.
The NRFC’s role is to invest in Australian businesses and projects that design, refine and make to transform capability, grow jobs and a skilled workforce, and diversify our economy. The NRFC is a corporate Commonwealth entity, established by the National Reconstruction Fund Corporation Act 2023 (NRFC Act) in September 2023.
For more information, visit nrf.gov.au.
NRFC media contact: media@nrf.gov.au
About Global Resource Recovery
We are leaders in chemical reclamation, driving a circular economy.
Global Resource Recovery (NT) has been driven by a mission to build a more sustainable future for Australia’s industries. Committed to ongoing research and development, we’ve got a team of some of the industry’s top chemical engineers, chemists and operations personnel working together to redefine waste management.
Today, we’re the partner of choice for industry groups that have environmental responsibilities and legal regulations to meet. Always staying ahead of the curve, we deliver valuable, sustainable services to our partners, by offering innovative solutions to our clients to reclaim and repurpose what is traditionally considered waste.