$1M GRANT TO ACCELERATE QLD ALGAE FARM

$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

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