High purity fucoidan is prized for its range of beneficial health properties, and is widely utilised in innovative nutritional, cosmetic and animal health formulations.
Marinova primarily extracts fucoidan from two species of brown seaweed, wakame (Undaria pinnatifida) and bladderwrack (Fucus vesiculosus) - currently relying on wild-harvested biomass from Australia and Nova Scotia respectively.
Company CEO, Paul Garrott, stated in a press release: “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.”
“Marinova’s branded Maritech range is the world’s only high purity, certified organic fucoidan with global regulatory acceptance. Natural, clinically proven and sustainably sourced, they are ingredients synonymous with quality.”
Marinova supplies its Australian-made fucoidan extracts to leading nutritional and personal care brands in more than 35 countries. The company’s high purity fucoidans are particularly popular inclusions in formulations targeting immune support, gut and digestive health, and healthy ageing.
The expansion is reflective of a wider push by Australia to supercharge the country's innovative marine biotechnology industry. A national consortium, the Marine Bioproducts Cooperative Research Centre (MB-CRC), is currently fuelling more than $270 million of R&D, a proportion of which is accelerating Marinova’s global fucoidan research program. Current estimates suggest Australia’s high-quality marine bioproducts are on track to reach $1 billion turnover by 2030.
Marinova’s facility expansion was supported by the Australian Government’s Modern Manufacturing Initiative, and the Tasmanian Government’s Building Projects Support Program and Advanced Manufacturing Accelerating Growth Program.
