$1M GRANT TO ACCELERATE QLD ALGAE FARM

Written on the 1 July 2016

$1M GRANT TO ACCELERATE QLD ALGAE FARM

SOUTH East Queensland is set to be home to a commercial-sized algae farm thanks to a $1 million grant.

Brisbane omega-3 algae farming company, Qponics, has been awarded the million-dollar boost through the federal government's Cooperative Research Centre Project program.

Qponics CEO doctor Graeme Barnett says algae farming investment for omega-3 fatty acids has just begun in earnest in South East Queensland.

"Our goal is to produce omega-3 oils for human health, so that we do not impact on global stocks of marine animals such as fish and krill," says Barnett.

The grant project, titled Translational R&D to accelerate sustainable omega-3 production, will allow Qpoincs to resourcefully construct a commercial-sized algae farm commencing this year.

The project will include co-participants The University of Queensland and Nutrition Care Pharmaceuticals - a Melbourne-based global marketer of nutraceuticals and pharmaceuticals.

The Qponics algae farm will integrate a suite of innovative and sustainable technologies developed by Professor Peer Schenk and his research team at the University of Queensland.

The site will produce a safe, natural and vegetarian-friendly source of DHA² and EPA omega-3 oils.

"Studies indicate that most of the world's population is deficient in these essential fatty acids, which contributes to a wide spectrum of health disorders," says Schnek.

It is expected the construction of the farm will commence this year on a near-urban site in South East Queensland.

Initially it will be a 1ha farm before scaling it up to a 10ha farm in 2017.

Main picture L-R: Professor Schenk and Doctor Barnett


Latest News

VIDEO INTERVIEW: TAKING ON THE TELCO GIANTS AND HOW TO COMPETE AGAINST HEAVYWEIGHTS LIKE TELSTRA

THEY'RE one of only four licenced mobile carriers in Australia, and Pivotel Group is taking on the likes of te...

COMMUNITY LAWYERS ON FUNDING CRISIS: BUDGET WAS A DECENT START, BUT MORE NEEDS TO BE DONE

While the Federal Budget may have reversed its initial plans to cut funding from community legal services nationwi...

DREAMWORLD UNDER 'REVIEW' BY OWNERS ARDENT LEISURE AS ACTIVIST INVESTORS PUSH FOR BOARD POSITIONS

DREAMWORLD owner Ardent Leisure (ASX: AAD) is considering the future of the theme park which may be redeveloped or so...

MAKE WAY FOR THE 'PANTSCRAPER', A TWIN TOWER SET TO CHANGE MELBOURNE'S CITYSCAPE

MELBOURNE'S skyline is about to transform following the construction of a $1 billion luxury high-rise in the city...

Related News

COMMUNITY LAWYERS ON FUNDING CRISIS: BUDGET WAS A DECENT START, BUT MORE NEEDS TO BE DONE

While the Federal Budget may have reversed its initial plans to cut funding from community legal services nationwi...

REGIONAL BANKS HIT OUT AT RATING CUT AND WARN BIG FOUR WILL BENEFIT

REGIONAL banks have hit out at a downgrade on their credit ratings, warning that it will increase their wholesale fun...

THE COMPANY THAT DECIDED IT WAS GOING TO GIVE A CRAP THANKS TO CROWD FUNDING

SIMON Griffiths is using toilet paper to save the world.

In 2012, on the back of an IndieGoGo crowdfunding campaig...

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter