Coalition helps Algae Enterprises bloom
A unique Prahran-based company has been awarded $50,000 in Coalition Government funding to develop new techniques that will speed up the growth of farmed beneficial algae – potentially doubling or tripling its yield.
Algae Enterprises has been awarded the Technology Development Voucher as part of the Victorian Government’s program aimed at encouraging innovation among small and medium-sized enterprises.
Mr Rich-Phillips said that Technology Development Vouchers awarded to improve competitiveness by enabling companies to integrate advanced technologies (including micro and nanotechnology), industrial biotechnology or advanced ICT into their business.
“The vouchers enable some of our most forward-thinking entrepreneurs to collaborate with Victoria’s world-class universities, research organisations or other businesses with specialist knowledge, to develop cutting-edge commercial products and services,” Mr Rich-Phillips said.
Algae Enterprises is developing a new and highly innovative technology called Photoluminescent Algae System (PAS), that shifts the wavelength of sunlight into the zone best suited for algae growth.
The company plans to develop a process and a pilot plant for the manufacture of human nutraceutical products such as food and health supplements derived from algae.
Algae are a rich and varied source of pharmacologically active natural products and nutraceuticals, with extremely high market values.
Liberal Member for Prahran Clem Newton-Brown said the Victorian Government was supporting Victorian companies in improving productivity and competitiveness.
“Across the state, the recipients of the vouchers are working on exciting new projects that will lead to ongoing benefits for Victoria,” Mr Newton-Brown said.
Applications for the program are open continuously, enabling businesses to address new challenges or opportunities for application of small technology, industrial biotechnology or advanced ICT.
For further information visit www.business.vic.gov.au/grants
Media contact: Andrew Drever 0409 580 996 firstname.lastname@example.org