$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

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Employee resilience is key to business resilience
Partner Content
Employee mental health and wellbeing is top of mind for Australian businesses, and or...
Aon
Advertisement

Related Stories

Another week of masks for SEQ as authorities reveal backpacker case was turned away in WA

Another week of masks for SEQ as authorities reveal backpacker case was turned away in WA

With all eyes on the Sydney COVID-19 outbreak where another month...

Priceline owner rejects "opportunistic" Wesfarmers takeover bid

Priceline owner rejects "opportunistic" Wesfarmers takeover bid

The board of Australian Pharmaceutical Industries (ASX: API) has ...

Commonwealth raises COVID-19 Disaster Payment to JobKeeper levels

Commonwealth raises COVID-19 Disaster Payment to JobKeeper levels

The Federal Government's COVID-19 Disaster Payment will see e...

Dexus names Dap & Co for Naldham House fitout

Dexus names Dap & Co for Naldham House fitout

Dexus Property Group (ASX: DXS) hopes to restore Brisbane's&n...