Marinova begins expansion of fucoidan facility
The expansion is supported by the Australian government’s Modern Manufacturing Initiative, providing businesses with funding to support projects that translate high-quality research into commercial outcomes.
Photo © iStockphoto.com/pavlen
Marinova (Tasmania, Australia) started its $5 million expansion to its advanced manufacturing facility. Marinova manufactures fucoidan, a bioactive derived from brown seaweed, which has been found to support immune health, gut health, and healthy aging.
The expansion is supported by the Australian government’s Modern Manufacturing Initiative, providing businesses with funding to support projects that translate high-quality research into commercial outcomes. The project also received support through the Tasmanian government’s Building Projects Support Program and Advanced Manufacturing Accelerating Growth Program.
“This expansion will allow Marinova to triple its fucoidan production capacity,” said CEO & managing director,Paul Garrott, in a press release.“It will involve significant investment in advanced manufacturing technologies and will create highly skilled new jobs at our facility in Tasmania. This extensive capital investment will enable Marinova to readily meet the rising demand for its high purity extracts, particularly from the global medical and consumer healthcare sectors.”
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