The Australian Government is funding a new project under the Securing Raw Materials Program to grow seaweed in tanks for food products, nutraceuticals, cosmeceuticals and compostable plastics in Hervey Bay.

Minister for Regionalisation, Regional Communications and Regional Education, Senator the Hon 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,” Senator McKenzie said.

Federal Member for Hinkler Keith Pitt said the Government will provide $850,000 to AlgOz Solutions Pty Ltd, in partnership with the University of the Sunshine Coast for the project.

“Hervey Bay is the perfect coastal environment for this project and has close ties to the leading university in the area of seaweed cultivation,” Mr Pitt said.

“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.”

“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,” Senator McKenzie said.

More information on the Securing Raw Materials Program can be found at: www.business.gov.au/srmp.