The National Reconstruction Fund Corporation (NRFC) is investing $55 million in senior secured debt into Global Resource Recovery (GRR).
Operating out of Darwin Port, GRR recycles chemical waste produced by the oil and gas industries for reuse, reducing industrial waste and carbon emissions in the production of glycol and amines.
The NRFC is providing GRR with the flexible capital it needs to strengthen Australia’s sovereign energy supply chain whilst also delivering sustainability and circular economy benefits.
About Global Resource Recovery
GRR’s innovative waste recycling facility is the first of its kind in Australia. Repurposing a disused biodiesel plant in Darwin Port, GRR’s facility can process 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 be used to build out the company’s Darwin Port storage and transport facilities. 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, reduce the need to import chemicals required by key industries.
Investment impact
Promoting a circular economy
GRR plays a key role in the oil and gas circular economy as the glycol and amines that it recycles would otherwise be sent to landfill. Its operations strengthen Australia's industrial capability to recover, process and reuse valuable chemical resources domestically.
Creating jobs and regional development
The expansion of GRR’s facility represents positive growth for Darwin Port. 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.
Providing flexible capital
The NRFC is providing flexible capital that will enable GRR to access and build out the company’s Darwin-based storage and transport facilities, which are supported by long-term contracts.