Aurora Algae has inaugurated its demonstration facility in Karratha, Western Australia, that will harvest algae-based biomass for products in the nutraceutical, pharmaceutical, aquaculture and renewable energy markets.
Aurora Algae has secured an option agreement on over 1,500 acres of land located near its demonstration facility.
The option agreement will allow the company to start the process of constructing a full-scale commercial facility equipped to manufacture thousands of tons of algae-based biomass annually, Aurora Algae said.
The company 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.
Aurora Algae is a producer of premium algae-based products for the pharmaceutical, nutrition, aquaculture and fuels markets.