Marinova triples manufacturing capacity
Marinova is pleased to announce the completion of a $5 million expansion to its state-of-the-art fucoidan extraction facility in Australia.
Global demand for fucoidan – a bioactive compound found naturally in brown seaweeds – is rapidly increasing. High purity fucoidan is prized for its range of beneficial health properties, and is widely utilised in innovative nutritional, cosmetic and animal health formulations.
Company CEO Mr Paul Garrott said, “The expansion of Marinova’s fucoidan extraction facility, including the commissioning of new advanced manufacturing technologies, represents a tripling of the company’s production capacity. This significant capital investment will enable Marinova to meet rising global demand for its high purity fucoidan extracts, particularly from the consumer healthcare, medical device and pharmaceutical sectors.”
“Marinova’s branded Maritech® range is the world’s only high purity, certified organic fucoidan with global regulatory acceptance,” continued Garrott. “Natural, clinically proven and sustainably sourced, they are ingredients synonymous with quality.”
Marinova supplies its Australian made fucoidan extracts to leading nutritional and personal care brands in more than 35 countries. The company’s high purity fucoidans are particularly popular inclusions in formulations targeting immune support, gut and digestive health, and healthy ageing.
The expansion is reflective of a wider push by Australia to supercharge the country's innovative marine biotechnology industry. A national consortium, the Marine Bioproducts Cooperative Research Centre (MB-CRC), is currently fueling more than $270 million of R&D, a proportion of which is accelerating Marinova’s global fucoidan research program. Current estimates suggest Australia’s high-quality marine bioproducts are on track to reach $1 billion turnover by 2030.
Marinova’s facility expansion was supported by the Australian Government’s Modern Manufacturing Initiative, and the Tasmanian Government’s Building Projects Support Program and Advanced Manufacturing Accelerating Growth Program.