Marinova, a seaweed extract specialist, has finished the construction of a AUD $5m expansion to its Australian fucoidan extraction facility.
The extension includes the commissioning of novel manufacturing technologies, and will triple the company’s production capacity.
Fucoidan as a health ingredient
Global demand for fucoidan – a bioactive compound found in brown seaweeds – is rapidly increasing, and high purity fucoidan is prized for its range of beneficial health properties.
Marinova supplies its Australian made fucoidan extracts to leading nutritional and personal care brands in more than 35 countries.
The company’s fucoidans are particularly popular inclusions in formulations targeting immune support, gut and digestive health, as well as healthy ageing.
Boosting Australia’s marine biotech capabilities
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 fuelling more than $270m of R&D, a proportion of which is funding Marinova’s global fucoidan research programme.
Marinova’s facility expansion was supported by the Australian Government’s Modern Manufacturing Initiative, as well as the Tasmanian Government’s Building Projects Support Programme and Advanced Manufacturing Accelerating Growth Programme.