Aurora Algae as started its demonstration facility in Karratha, Western Australia, where the company is harvesting algae-based biomass for nutraceutical, pharmaceutical, aquaculture and renewable energy markets.
The firm has secured an option agreement for 1500 acres of land near the demonstration facility.
With the option agreement, the firm can begin the process of constructing a full-scale commercial facility equipped to manufacture thousands of tons of algae-based biomass annually.
The firm has also has received $1.02m in additional LEEDS grant funding, and $814,153 in research and development tax credits from the Australian government for production and construction.