Marine bioproducts derived from resources like algae could add $3 billion to the Australian economy by 2035 – while also building a more resilient food system.
Novel Farming Systems – which includes CEA, aquaculture, and insect production – was the second best-funded agtech category last year, according to AgFunder.
It’s aiming to build “the world’s largest algae factory” to supply raw material for a feed supplement that can reduce livestock methane emissions by up to 80%.
Sea Forest will use the funds to start supplying commercial quantities of seaweed that Australian science agency CSIRO has shown to reduce cattle methane emissions by as much as 80%.
Emerging from stealth, GrainCorp-backed FutureFeed will build a value chain from the ground up to cultivate and commercialize its seaweed additive.
The Faroese company wants to make sea-bound macroalgae farming less labor intensive, and more able to withstand the elements.
The ocean is a $100tln market opportunity