SeaStock
26/03/2024
In collaboration with the University of Western Australia, the team at SeaStock has made remarkable progress in the extraction of red pigment from Asparagopsis seaweed. Having already achieved the cosmetic grade threshold, the team is now focused on achieving the highest purity, analytical and pharmaceutical grade.
This undertaking isn’t simply about surpassing technical milestones; it represents a strategic move into a higher-margin sector. Pharmaceuticals demand the highest purity and quality, and achieving this purity index means SeaStock’s product will meet rigorous standards and command higher prices.
Additionally, the sustainability benefit of extracting red pigment from seaweed adds significant value. With a growing consumer preference for natural over synthetic pigments, this initiative is well-aligned with market demands for greener products and positions SeaStock advantageously within global markets. Independent market research forecasts show the natural food colourants market is set to grow from US$2.0 billion globally in 2022 to US$3.0 billion by 2028, and the global biotechnology pigments market, is expected to expand from US$1.0 billion in 2022 to US$2.2 billion by 2033.
As a result, SeaStock is ramping up the biomass extraction process, with the dual aim of fulfilling material off-take commitments and introducing its innovative product to new markets in Europe, Southeast Asia and North America, aiming to generate sales by Q3 this year.
Reflecting on SeaStock approaching pharmaceutical grade, Managing Director Tom Puddy said, ‘We’re on the cusp of a groundbreaking achievement that highlights our dedication to both innovation and sustainability. Importantly, our high-quality red pigment extraction enables us to produce the most cost-effective bromoform, a key agent in reducing global livestock methane emissions. Approaching this milestone, we continue to set new standards in the industry, underscoring our role as a leader in the development of sustainable, cost-effective solutions for global markets.
