The project valued at $270 million overall, including partner cash and in-kind contributions
National, 1st June, 2022: Indian industrial automation company Cybernetik has signed on with Australia’s Marine Bioproducts Cooperative Research Centre (MB CRC) as sole extraction partner to provide its expertise to a programme aimed at conducting research into commercialising the country’s bio products industry.
The overall project is valued at $270 million, including partner cash and in-kind contributions. Its aim is to transform Australia’s marine bio products sector into a globally competitive industry that can be a major export earner for the country.
Cybernetik will provide extraction equipment and research expertise to the project.
Mahesh Wagle, Co-founder and Director of Cybernetik, said, “The unique and diverse marine biota of Australia has strong potential for bio-marine discovery to markets in health, nutrition, agriculture, aquaculture, and biomaterials. Combining our decades of experience, research and expertise in extraction and industrial solutions in this area will create sustainable yet value-driven opportunities to further augment these areas. It will further showcase the diligence and efficiency of Indian talent on an international platform, bringing with it well-deserved global recognition.”
The Marine Bioproducts Cooperative Research Centre (MBCRC) is a major development initiative between people, industry and research partners that have successfully bid, and have been awarded, $59 million from the Commonwealth Government over the next ten years.
Over the course of the partnership, Cybernetik will work as a partner to the MBCRC assisting in the process of developing Australia’s potential as a global player in the marine bioproducts industry.
