Marinova has completed a $5 million expansion of its fucoidan extraction facility in Australia.
 
The global demand for fucoidan, a bioactive compound derived from brown seaweed, is rapidly increasing, for nutritional, cosmetic, and animal health applications, the company reports.
 
“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 Paul Garrott, CEO. “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,” Garrott continued. “Natural, clinically proven and sustainably sourced, they are ingredients synonymous with quality.”
 
Marinova supplies its Australian-made fucoidan extracts to nutritional and personal care brands in more than 35 countries. The company’s fucoidans are popular in products targeting immune support, gut/digestive health, and healthy aging.
 
The expansion is reflective of a wider push in Australia to boost the country’s marine biotechnology industry. A national consortium called the Marine Bioproducts Cooperative Research Centre (MB-CRC) is currently investing more than $270 million in research and development, a portion of which is supporting Marinova’s fucoidan research program. It is estimated that Australia’s marine bioproducts market is on track to reach $1 billion by 2030, Marinova reports.