Marinova Leading The Way In Innovation

The Minister for
Economic Development, Michael Aird, today congratulated one of
Tasmania’s leading biotechnology companies, Marinova Pty Ltd, on
winning the Technology and Innovation Award in the 2009 NAB Australian
Agribusiness Awards for Excellence.

Marinova was nominated in two categories, the Innovation in New
and Emerging Industries Award, sponsored by the Rural Industries
Research and Development Corporation, and the Technology and Innovation
Award, sponsored by the Australian Institute of Agricultural Science
and Technology.
Mr Aird said that Marinova was a fine example of a Tasmanian
company using innovative methods to develop and market products for
which there is a large demand.
“In its 14th year, these awards celebrate excellence,
innovation and leadership in agribusiness, particularly during such
challenging financial times.
“Since 2006, Marinova’s Cambridge extraction facility has been
developing medical and nutritional applications from brown seaweed
harvested in Tasmania, Canada and Argentina.
“The company has already generated more than $20 million in export earnings for the State.
“With a strong focus on research and development, environmentally
sustainable production and staff development, Marinova’s exemplary work
ethic has now been rewarded.”
Marinova Managing Director Paul Garrett said that it was the first time the company had entered the awards.
“We are one of the first marine biotechnology companies to be
recognised in these awards, representing a coming of age for the
“Our process uses bioactive polysaccharide extracts (fucoidans)
from brown seaweed as active ingredients in nutritional capsule and
tablet products, wellbeing beverages and topical cosmetics.
“The global skincare market alone is set to exceed US$44 billion
in sales by 2010, and we are the world’s only supplier of organic,
Halal and Kosher certified fucodian products.
“We are excited to receive the award and believe it will translate
into future opportunities for new and existing product lines,” Mr
Garrett said.