There is strong growth potential as we enter new markets from the Australian feedlot industry to the dairy industry and then significantly larger international markets such as USA, Canada and Brazil. We are also identifying new leading edge applications and second generation products, which will diversify our portfolio and maintain strong growth beyond 2021.
We are currently conducting further trials on how seaweed affects production, and building the international supply of seaweed based on demonstrated demand and interest from the livestock industry.
Our broad IP patent coverage (PCT/AU2015/000030) prevents any application of Asparagopsis seaweed being fed to livestock to reduce methane.
CSIRO, Meat and Livestock Australia (MLA) and James Cook University (JCU) hold a patent of the use of Asparagopsis for methane reduction, and the partners are actively involved in seeking to commercialise the technology. Funding to test and develop the use of Asparagopsis for animal feeding has been provided by the Australian Government under the National Livestock Methane Program.
With over $2M invested in product trials in Australia underway we are confident that it will allow producers to reap carbon credit revenue and access premium low carbon markets while building business profits.
The FutureFeed team are interested in engaging with potential investors and commercial partners, and in particular those that have networks and experience in the seaweed industry to supply the quantity required to deliver on this great innovation.