Biofutures momentum builds in regional Queensland

New bio futures projects and potential commercial products are already emerging across regional Queensland as the Palaszczuk Government’s $20 million bio futures industry plan gains traction.

State Development Minister Dr Anthony Lynham today said a number of key projects are already at an advanced stage of planning in key sugar-growing areas and more opportunities are likely to be identified by the end of year, thanks to the $4 million bio futures acceleration program and related measures.

As well, major sugar industry and industrial biotechnology players were exploring partnerships with universities to progress new commercial bio futures products and technology.

“We invested almost $20 million into our Biofutures Roadmap and Action Plan in the State Budget to make things happen in this industry sector,” Dr Lynham said during a site visit to Mackay’s Racecourse Mill today.

“The rubber is already hitting the road.

“A scoping study underway now should identify potential growth areas for bio futures projects by the end of the year as well those that are already well advanced.

“The task then will be to work with the proponents to identify how government can help them to obtain necessary approvals and get operational.”

“At the same time, our $5 million commercialisation program has brought major players forward to work with Queensland’s research organisations.

“Our investment will bring solid dividends.”

Member for Mackay Julieanne Gilbert said as a major sugar-growing region, Mackay-Isaac-Whitsunday areas was a logical target for the government’s vision for a $1 billion sustainable and export-oriented industrial biotechnology and bioproducts sector.

Member for Mirani Jim Pearce said bio futures offered a real opportunity to diversify the local economy.

The vision is contained in the 10-year bio futures roadmap and action plan, which Premier Annastacia Palaszczuk released last month.

“Bio-based industry is the perfect growth sector for Queensland with a market that is expected to exceed $US1 trillion by 2022 and our natural advantages - climate, energy-dense and productive feedstocks and world-leading agricultural and industrial biotechnology expertise,” Dr Lynham said.

“All those factors, combined with a Government committed to working in partnership with the industry and the research sector, means we have what it takes to grow this sector and create next generation jobs across regional Queensland.”

Queensland will become a bio futures magnet for international biofutures experts later this year, with two specialist conferences in Mackay and Brisbane.

Mackay hosts later this year the Clean Energy Investment Conference on 24 October, with many attendees also expected to double-up at the Bioenergy Australia conference in Brisbane on 16 November.

ENDS             July 27, 2016

Media inquiries:         Jan Martin 0439 341 314