State goes Deep Green with algae-based biotech funding
Algae is a sustainable resource with the potential to become a cost-effective ingredient in cosmetics, nutraceuticals, pharmaceuticals and animal feedstocks. Image: Thinkstock
A NSW Deep Green Biotech Hub (DGBH) is to be established in collaboration with the University of Technology Sydney (UTS) and other stakeholders, after the announcement of a $1 million grant by the NSW Department of Industry. Combined with UTS funding, the grant ensures the delivery of a $9 million dollar project. The Hub will be located in the centre of the $1.3 billion UTS campus, providing users with ease of access to other University facilities, research talent and transport.
This significant grant from the NSW Government aims to put NSW at the forefront of the algae-based biotechnology industry in Australia, as well as connecting to key international leaders. The Hub will create an enabling, incubator environment to develop algae as a cost-effective and sustainable resource in a perse range of products including nutritional supplements, cosmetics, industrial chemicals and animal feed.
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