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    Media Statements

    Coat of ArmsMedia Release
    JOINT STATEMENT
    Minister for State Development and Minister for Natural Resources and Mines
    The Honourable Dr Anthony Lynham
    Minister for Innovation, Science and the Digital Economy and Minister for Small Business
    The Honourable Leeanne Enoch

    Bio fund drives products from lab to refinery

    JOINT STATEMENT

    Minister for State Development and Minister for Natural Resources and Mines
    The Honourable Dr Anthony Lynham

    Minister for Innovation, Science and the Digital Economy and Minister for Small Business
    The Honourable Leeanne Enoch

    Thursday, December 29, 2016

    Bio fund drives products from lab to refinery

    The Palaszczuk Government will invest $5 million to get bio-industrial products off the lab bench and into the marketplace. 

    Innovation Minister Leeanne Enoch and State Development Minister Dr Anthony Lynham today announced details of the fund, the final piece of the almost $20 million biofutures industry Budget commitment.

    Ms Enoch said the $5 million Advance Queensland Biofutures Commercialisation Program (BCP) aimed to boost the capability and scale of Queensland’s biofutures industry by filling the funding gap for bioindustrial products at the pilot and demonstration stage.

    “Bio-based industrial products are the next generation of products,” Ms Enoch said.

    “These products are sourced from non-food crops, such as oil-seed trees and algae, and agricultural waste such as bagasse to yield products including aviation fuels, diesel and higher value chemicals.

    “Our aim is to attract bioindustrial expertise to partner with Queensland researchers and/or businesses.

    “We want them to scale-up and test new or improved bioindustrial technologies to new industries, products and delivering jobs for Queenslanders.”

    Dr Lynham said the government’s vision was for Queensland to become the Asia-Pacific’s biofutures hub with a $1 billion sustainable, export-oriented industrial biotechnology and bioproducts sector.

    “Biofutures has the potential to provide significant high-value employment to regional Queensland, and this government is investing almost $20 million over three years to make it happen,” he said.

    In 2014, a joint Deloitte Access Economics and Queensland University of Technology study projected that by 2035 an industrial biotechnology and bioproducts sector could contribute $1.8 billion to Queensland’s annual gross state product and support almost 7000 jobs in the state.

    Ms Enoch said the program had two funding components.

    “We’ll provide funding up to $250,000 for projects at a pilot scale of development. We’ll also provide funding up to $1 million for projects at the demonstration scale of development,” Ms Enoch said.

    “We have the fundamentals in Queensland to see the emergence of this exciting and potentially lucrative new industry.

    “Our universities and research institutes are producing leading research and development on advanced biofuels, biochemicals, bioplastics, emerging specialised energy crops, and germplasm improvement, among a range of research projects,” she said.

    Ms Enoch said Queensland also had a range of natural competitive advantages that bode well for a bio-industry in the State, including natural resources, an efficient sugarcane industry, geography, infrastructure, a good regulatory environment and the state’s strategic location in the Asia-Pacific region.

    “But we need to make the jump from the lab to the marketplace.

    “The BCP will facilitate that by providing this excellent opportunity for researchers and businesses to demonstrate and prototype their research so that they can go out to the market and attract the key investment they need for full commercialisation.” 

    Queensland’s new Biofutures Industry Envoy Professor Ian O’Hara said it was important for research and industry to work together to solve the challenges and establish a biofutures industry in Queensland.

    “The Advance Queensland biofutures commercialisation program fund facilitates collaboration, which will pave the way for jobs and investment in regional Queensland,” Professor O’Hara said. 

    Applications open early next year. For more information visit advance.qld.gov.au/bcp  

     

    ENDS Media contact:        Minister Enoch – 0438 830 201

                                        Minister Lynham – 0419 562 389