CSIRO has signed an 18-month partnership agreement with Brisbane-based company Pharmamark Innovation to develop omega-3 oils, proteins and bioactives from marine microorganisms.
The partnership aims to unlock significant economic potential from a novel source of protein and omega-3 oils and will contribute to Australia’s growing ‘blue economy’ target of $100 billion annual revenue by 2025.
The products will aim to boost the nutritional value of a range of food and beverages, beginning with the $89 billion global baby milk formula market.
CSIRO Research Scientist Kim Lee Chang, said the omega-3 oil was sourced from microorganisms found in the ocean, building on CSIRO’s expertise in identifying and developing new sources for omega-3 oils such as engineered canola.
“Our science is underpinning the development of renewable and sustainable sources of omega-3 oils and other nutrients for which there is strong global demand,” Dr Lee Chang said.
CSIRO Coasts Research Director Dr Andy Steven said investment in the blue economy could create new industries for Australia.
“Collaboration between science and industry is central to realising sustainable economic opportunities from our oceans and driving innovation in the blue economy,” Dr Steven said.
“Supporting food security and global health while helping to grow Australian industry is a win-win.”
Pharmamark Innovation CEO Guy Drummond said one of the aims was to deliver sustainable opportunities for a global market.