Biotechnology innovations in latest $6.9m industry grant funding

The federal government has announced that five innovation initiatives will share $6.9 million in funding under the government’s Industry Growth Program. The latest round of grants targets priority areas aligned with the National Reconstruction Fund, including projects spanning advanced manufacturing, sustainable materials and biotechnology. The Industry Growth Program helps businesses commercialise innovative new products, processes and services.

The latest grants will support five projects in priority areas for the National Reconstruction Fund.

Bioborne has been awarded $2,267,343 to scale its closed-loop microalgae production that uses artificial intelligence with the aim to produce a new range of bio-fertilisers that will help increase crop yields, while C Sea Solutions will receive $2,107,300 to scale production of Uluu, a sustainable seaweed product to use an alternative to plastic packaging, with the initial aim to achieve first sales in sustainable packaging for cosmetics.

Seascape Restorations Australia will use its $750,000 to build a patented photobioreactor system for cultivating a native seaweed that can reduce methane gas. The project will include two new patent applications and prove feasibility of the modular system.

Aston Dynamics will receive $1,500,000 to finalise prototypes of its hydraulic jet technology for electric trailer brakes and to help scale manufacturing and accelerate entry to international markets.

$250,000 will help Levur to continue developing its precision fermentation process to produce sustainable palm oil derivatives for use in cosmetics, nutraceuticals and food.

The Australian Government said the Industry Growth Program provides free, tailored advisory services to startups and small to medium enterprises, alongside matched grant funding for eligible businesses seeking to expand and commercialise innovations.

Image credit: C Sea Solutions