News

August 2009: Algal Biofuels Set to Boom

The Australia Financial Review reports on a recent surge of interest and investment in micro-algae biofuels technology and Australia is in the spotlight as a potental major source of the raw material. Read more here>

May 2008: See also

Ozequities Newsletter (60 KB)

AquaCarotene Sells 40% of its Production

AquaCarotene has signed an agreement with Nutrimed (Group) Pty Ltd and Interclinical Laboratories Pty Ltd (Nutrimed) for the sale of 40% of Aquacarotene’s current season production of Dunaliella salina dry marine algae. The agreement also appointed Nutrimed as their “Preferred Authorised Distributor” in nutraceutical and function food markets for AquaCarotene’s Dunaliella salina dry marine algae.

Dunaliella salina dry marine algae, which AquaCarotene grow in open water ponds at Karratha, contains beta carotene and other beneficial antioxidants for use in nutraceutical and other markets.

Nutrimed are part of the Interclinical Group which recently launched their product Algotene, containing 100% AquaCarotene dry marine algae, in North America through Millennium Health. (
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Interclinical Newsletter (769 KB)

Key elements of the agreement are:

• Nutrimed have agreed to buy a minimum of 5,000 kg of AquaCarotene’s Dry Marine Algae (40% of this year’s production).
• Nutrimed have 24 months payment terms with the receivable guaranteed by Interclinical and their Directors.
• Aquacarotene will not compete with Nutrimed in North American or Australian markets in the Nutraceutical or Functional food area.
• Nutrimed will retain these rights until 31/12/2009 and thereafter each year by purchasing two thirds of AquaCarotene production.
• AquaCarotene and Nutrimed will work together to continue to create markets for AquaCarotene’s Dry Marine Algae

Ken Richards, Managing Director of AquaCarotene said from the company’s perspective this is a significant step forward in making a viable business from the 340 hectares of land/mud flats the company leases near the Karratha airport.

Aquacarotene is one of the few producers in Australia that have successfully grown micro algae in open ponds and while the company is only using 8 hectares of its leased area we need to look more broadly at micro algae and other aquaculture opportunities to fully utilise our lease.

As part of this review AquaCarotene is exploring opportunities related to the production of bio diesel from micro algae. The advantages of micro algae for bio diesel production are:

• Much greater productivity than land based crops (more than 50 x)
• Use non food resources and land not suitable for conventional agriculture (e.g. saline water)
• Utilise waste CO2 streams and
• Can be used in conjunction with nutrient rich waste water treatment

At this stage most research concludes that for micro algae to be used for bio diesel production it has to be combined with the sequestration of carbon dioxide, waste water treatment and/or the production of other high value products such as beta carotene.

AquaCarotene is also looking at a variety of potential aquaculture species that could be farmed economically on their leases.