THE Australian Government will fund a new project to grow seaweed in tanks in Hervey Bay.
The project falls under the Securing Raw Materials Program and will produce seaweed for food products, nutraceuticals, cosmeceuticals and compostable plastics.
The Government will provide $850,000 to AlgOz Solutions Pty Ltd, in partnership with the University of the Sunshine Coast for the project.
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Federal Member for Hinkler Keith Pitt said Hervey Bay was the perfect coastal environment for the project and had close ties to the leading university in the area of seaweed cultivation.
“This funding will capitalise on this region’s unique potential and will support Australian jobs, the growth of our regions and the role regional communities play in the future of Australian innovation.”
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Regionalisation, Regional Communications and Regional Education Minister Bridget McKenzie said such projects in regional Australia are integral to securing and strengthening the supply of improved raw materials to vital industries.
“We want to prioritise and strengthen our valuable partnerships between Australian businesses, our world-class research institutions and regional communities, ensuring regional Australia is at the forefront of innovation and change,” she said.
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“We want to prioritise and strengthen our valuable partnerships between Australian businesses, our world-class research institutions and regional communities, ensuring regional Australia is at the forefront of innovation and change.”
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