Clean Energy Fuels Australia (CEFA) may have been around for over a decade, but it’s only in the last four years that their ambitions to supply Liquefied Natural Gas (LNG) to remote mine sites have hit the headlines.
With three founding members – Basil Lenzo, Gary Ireson and David Trembecki – and a combined 80 years of energy industry experience under their belts, CEFA is focused on reducing the carbon footprint for off-grid, energy-intensive industries in Australia.
With an ever-urgent requirement by many mid-tier operators to comply with stringent ESG demands, the services offered by CEFA are extremely prescient.
Providing integrated solutions to remote and stranded mining customers
Initially focusing on the Western Australian mining sector, CEFA offers integrated solutions to remote and stranded mining customers, with end-to-end logistics for LNG power generation.
None of the above comes without risk or a hefty price tag, however, and perhaps explains the gradual build to CEFA’s present-day operations.
Back in the late 2010s, they saw an opportunity to fill a gap and deliver gas via liquefication to remote mine sites. Their location, some 10 km south of Mount Magnet, was identified as the first location for a plant, allowing CEFA to offer a hub close to their customer base, improving efficiencies and deliverables.
Funds were initially raised through private equity to facilitate the building of a demonstration plant, and after a second customer signed up, a bigger plant was constructed in 2022.
Typically, clients can make significant financial savings on fuel and an impressive 30% savings on CO2-e (versus diesel). With a significant infrastructure investment in the project amounting to over $150 million, it led CEFA to entrust Ledge Finance to help access debt.
Ledge has helped us to raise debt against equipment, which has been instrumental in the continued growth of CEFA.
Sam Pearce, CEFA CFO
An experienced financial partner is a part of CEFA’s success
Having an experienced finance industry partner like Ledge has been a necessary part of CEFA’s success so far; the challenge, as founding Director and CEO Basil Lenzo explains, is that the business is very capital-intensive by nature.
Thanks to Ledge’s involvement, CEFA has been able to leverage funds into their capital-intensive ventures, accessing debt markets as the business reaches maturity.
It’s not always an easy conversation to commence with banks, when a business like ours is in ramp-up mode. However, Ledge has helped us target the right banks with the right appetite for our business model and navigate the process as we continue to grow. This is the beginning of a long-standing relationship.
Basil Lenzo, CEFA Director & CEO
As a result, gaining the support of banks has been critical in putting in place the finance to secure the LNG, which will, in turn, supply power to some of the nation’s most remote mine sites.
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*This article was previously published in Business News Book of Lists 2025. Click here to get your copy.
