On June 23, 2016, the Australian Renewable Energy Agency (ARENA) announced $2.4 million in funding to support the development and construction of a biocrude and biofuel laboratory in Queensland. The $5.3 million project is expected to be completed in the spring of 2019 and will be Australia's first biorefinery producing renewable diesel and jet fuel from plant material. Australian companies have produced biocrude in the past but there is currently no commercial scale process to refine the biocrude into useable biofuels. The project by Southern Oil Refining (SOR) will help the Royal Australian Navy follow through on an agreement to explore utilizing more environmentally friendly fuel. Ivor Frischknect, CEO of ARENA, stated of the project: "SOR will carry out testing and reporting to produce valuable knowledge for Australia's bioenergy industry. New protocols for the conversion of biocrudes to drop-in fuels will also be established." This project will inform the future construction of a commercial scale biorefinery.