Marinova completes expansion of its fucoidan extraction facility, tripling its production capacity

Photo © iStockphoto.com/BryanToro

Marinova (Tasmania, Australia) has announced the completion of a $5 million expansion of its fucoidan extraction facility in Australia.

“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,” said Marinova’s CEO Paul Garrott in a press release. “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.”

According to the company’s press release, Marinova’s fucoidan extracts are supplied to nutritional and personal care brands in more than 35 countries. Fucoidans are popular in products that target immune support, digestive health, and healthy aging. The expansion reflects a wider push in Australia to advance the country’s marine biotechnology industry. For example, the national consortium Marine Bioproducts Cooperative Research Centre (MB-CRC), is injecting more than $270 million into R&D funded by a federal grant of $59 billion with additional co-funding from partners, including Marinova. By participating in this ten-year research project, Marinova hopes to increase the breadth and depth of its research, with a focus on immune support, gut health, and healthy aging.

The facility expansion, says Marinova, 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.