Australian algal opportunities
A new white paper exploring growth and innovation in the Australian algae industry has been released by the Deep Green Biotech Hub at the University of Technology Sydney.
The paper draws together findings from the 2023 Algae Business Summit, an event which drew together leading industry experts, academics and researchers to explore Australia’s burgeoning algae industry. The paper examines the state of the Australian algae industry, documenting key challenges, opportunities and stakeholder recommendations. It also outlines economic and policy requirements identified as crucial for the industry's future advancement.
Australia is investing significantly in R&D to grow its marine bioproducts industry. Collaborative national initiatives such as the Marine Bioproducts Cooperative Research Centre are fueling research projects across the country. The report notes that the value of the Australian domestic seaweed industry is predicted to grow significantly due to strong demand for algae and algae-derived products both domestically and internationally.
The white paper, ‘Unlocking the growth and innovation of the Australian algae industry: Insights from the 2023 Australian Algae Business Summit’ can be downloaded from the University of Technology Sydney website.