Thousands of kilometers of undisturbed coastlines, a longstanding culture of aquatic farming, steadily increasing demand for sustainable, plant based products and significant potential for environmental regeneration make Australia primed and well-positioned to host a robust seaweed industry - one which experts estimate could be valued at $100 million by 2025.
As part of the launch of Transformations for a Sustainable Ocean Economy in December 2020, Australia’s Prime Minister Scott Morrison flagged the acceleration of seaweed aquaculture as a priority for the country’s short term economic plan and for the achievement of ambitions set out by its membership in the Ocean Panel, an intergovernmental ocean policy body made up of 14 heads of state, that seeks to build momentum for sustainable ocean industries.
The startup ecosystem in Australia’s young seaweed industry has become noticeably more vibrant in the last 12 months, with new startups at various stages of development coming to life. However, today's seaweed farms are unscaleable.
Seaweed needs to be manufactured at scale to reach its full potential. Grey Innovation has launched Canopy Blue Pty Ltd, a company that will automate seeding and harvesting of seaweed with large offshore farms.