Marinova triples fucoidan manufacturing capacity through Australian facility
12 Jun 2024 --- Australia-based biotech company Marinova has finalized the AU$5 million (US$3 million) expansion of its fucoidan extraction facility, tripling its manufacturing capacity. The company’s branded Maritech range is a high-purity, certified organic fucoidan with global regulatory acceptance.
Global demand for fucoidan — bioactive sulfated polysaccharides found in brown seaweed — is rapidly increasing. High-purity fucoidan is sought for its immunomodulating, antioxidant, anti-allergic and anti-inflammatory properties. The company notes that current estimates show that Australia’s high-quality marine bioproducts are on track to reach AU$1 billion (US$660 million) turnover by 2030.
“The expansion of Marinova’s fucoidan extraction facility, including the commissioning of new advanced manufacturing technologies, represents a tripling of the company’s production capacity. This significant capital investment will enable Marinova to meet rising global demand for its high-purity fucoidan extracts, particularly from the consumer healthcare, medical device and pharmaceutical sectors,” says Paul Garrott, CEO of Marinova.
Marine biotech innovation
Marinova supplies its fucoidan extracts to nutrition and personal care brands in 35 countries. Its fucoidans are prized for formulations targeting immune support, gut health, digestive health and healthy aging.
The expansion reflects a wider push by Australia to “supercharge” the country’s innovative marine biotechnology industry. The Marine Bioproducts Cooperative Research Centre, a national consortium, is driving more than AU$270 million (US$179 million) in R&D. The company notes that some of these funds are accelerating Marinova’s global fucoidan research program.
Marinova’s facility expansion was supported by the Australian government’s Modern Manufacturing Initiative, the Tasmanian government’s Building Projects Support Program and the Advanced Manufacturing Accelerating Growth Program.
Rise of the fucoidans
The investment in Australia’s marine bio-industries began in 2021 to meet the growing global demand for plant-based proteins, nutraceuticals, omega-3 oils and bioplastics, among other things. The funding established the Marine Bioproducts Cooperative Research Centre, led by the nation’s Flinders University.
Meanwhile, another genus of macroalgae, Sargassum spp. extract could potentially prevent and improve skin aging while also offering anti-inflammatory properties. Findings by the National Research Foundation of Korea raised interest in using the extract’s nutraceutical properties for healthy aging products.
In addition, China-based BGG is strategically setting up its new global headquarters in Switzerland as part of a major restructuring plan. The branch will operate as BGG World from Basel and oversee the company’s international corporate strategy. The company’s product range includes fucoidan-based offerings such as FucoMax.
By Inga de Jong
