SeaStock
10/09/2024
SeaStock is delighted to announce that it has received national recognition and secured federal funding to further its mission of driving innovation in sustainable agriculture.This achievement comes as part of the Australian Federal Government’s Industry Growth Program (Program), a significant achievement that will enhance the company’s capabilities of scaling its products for commercialisation and use within the agricultural sector.
Last Tuesday, SeaStock had the honour of hosting Hon. Ed Husic, Member of Parliament and Minister for Industry and Science, at its Fremantle headquarters. Minister Husic’s visit marked an important milestone for the company as it continues to grow and develop cutting-edge solutions aimed at reducing methane emissions in agriculture.
Through the Program, SeaStock has been awarded an Early-Stage Commercialisation grant of $136,000 to conduct feasibility studies for its pilot plant, aimed at demonstrating its potential for commercialisation. The Early-Stage Commercialisation grant is designed to support businesses with innovative products, providing between $50,000 and $250,000.
More generally, the Program supports innovative small and medium enterprises (SMEs) across Australia and is designed to accelerate the growth of businesses with high potential in key sectors such as renewables, low emissions technologies, medical science, transport, value-add in the agriculture and more.
The Program’s key features include Industry Growth Program Advisers, who provide tailored advice, access to specialist advisory services from industry partner organisations and grant funding for eligible projects. These elements work together to support the commercialisation of new products and services, positioning businesses for national and international growth opportunities.
This support will be pivotal in advancing SeaStock’s production capabilities and highlights the company’s commitment to delivering solutions that meet industry needs and Australia’s broader economic and environmental goals. Additionally, it positions SeaStock for future scaling opportunities including the potential support of the National Reconstruction Fund (NRF).
SeaStock’s inclusion in the Program is a testament to the hard work and dedication of the SeaStock team, as well as its commitment to innovation and sustainability. The company is excited about the opportunities this support will unlock and looks forward to the positive impact it will have on its growth, the agriculture industry and sustainability efforts worldwide.
Tom Puddy, Managing Director of SeaStock, commented, “We are incredibly grateful to the Australian Government for their support through this federal grant, which reinforces our commitment to becoming the lowest-cost producer of bromoform for farmers. Our innovative dual-extraction method not only enhances efficiency but also makes methane-suppressing solutions more affordable for the agricultural sector. This grant will help us scale our operations and be crucial in delivering sustainable, cost-effective solutions that benefit both farmers and the environment.”
