GOVERNMENT INVESTS IN NEW ETHANOL TECHNOLOGY
Published Tuesday, 03 October, 2006 at 03:28 PM
Minister for State Development, Employment and Industrial Relations
The Honourable John Mickel
03 October, 2006
The State Government owned BioStart investment fund managed by teQstart Pty Ltd has made further investment in a company developing new technology that promises to produce ethanol from sugarcane without compromising sugar yields.
Minister for State Development John Mickel said the new investment, bringing the total invested to $250,000, would further strengthen Queensland’s growing position as an ethanol leader.
“With the funding Farmacule BioIndustries Pty Ltd will be able to further develop its unique INPACT technology,” Mr Mickel said.
“This gene activation and amplification technology is unique and was developed here in Queensland at the Queensland University of Technology.
“It will be used to enhance the production of cellulase enzymes in sugarcane leaf so that cane fibre will break down to glucose when the gene is activated. The sucrose is extracted from the sugar cane first and then the sugarcane fibres remaining - normally material that is burnt or left in the field – can be used to produce ethanol.”
Mr Mickel said that successful outcomes would enhance the sustainability of the sugar industry while also providing key outcomes to benefit the environment and the biofuels industry.
“This could help producers move into a new industry without completely having to forgo the sugar production that has been their staple for so many years and so important to many regional communities,” he said.
Farmacule CEO Dr Graeme Bullock said the investment would enable the company to progress its “world first” research.
“INPACT stands for In Plant Activation Technology and involves inserting specific genes into the leaves, roots or seeds of a plant to enable the production of a desired biological compound,” he said.
“In this case it is the insertion of the genes controlling the production of cellulase enzymes.
“The concept of molecular farming - using genetic engineering principles to enable plants to produce valuable biological compounds - is not new.
“But our technology is and we believe it will more effectively produce significant gains for not only a potential new ethanol industry for Queensland but also in areas such as plastics, paper manufacturing and medical proteins.
“Farmacule is close to commercial release of its first mammalian protein farmed in a plant host”.
teQstart Pty Ltd was established by the Queensland Government as part of the Smart State strategy to manage the teQstart and BioStart investment funds aimed at stimulating the growth of the State’s high-technology, knowledge intensive industries.
The fund co-invests amounts up to $250,000 on a matching basis with expert private and venture capital sources. “Early stage, high-technology Queensland companies seeking to develop their intellectual property into commercially successful ventures are eligible to qualify for teQstart investment.
The teQstart Pty Ltd portfolio currently comprises 19 companies in co-investment with 10 early stage venture capital firms and one angel investment group, across both funds. Industry sectors represented in the portfolio include biotechnology and health, agricultural biotechnology, medical devices, environment, sustainable energy, nanotechnology and advanced materials, education, and information and communications technologies.
For more information about teQstart and BioStart phone Ms Ruth Drinkwater, Manager teQstart Pty Ltd on 07 3227 9702, www.teqstart.com.au.
Media Contacts:Chris Brown 3224 7349 or Elouise Campion 3224 6784
Company contact details:
Dr Graeme Bullock – CEO
Farmacule BioIndustries Pty Ltd
PO Box 15434
Brisbane City Qld 4002
Tel: 3864 8386
Email: gbullock@farmacule.com
Web: www.farmacule
The State Government owned BioStart investment fund managed by teQstart Pty Ltd has made further investment in a company developing new technology that promises to produce ethanol from sugarcane without compromising sugar yields.
Minister for State Development John Mickel said the new investment, bringing the total invested to $250,000, would further strengthen Queensland’s growing position as an ethanol leader.
“With the funding Farmacule BioIndustries Pty Ltd will be able to further develop its unique INPACT technology,” Mr Mickel said.
“This gene activation and amplification technology is unique and was developed here in Queensland at the Queensland University of Technology.
“It will be used to enhance the production of cellulase enzymes in sugarcane leaf so that cane fibre will break down to glucose when the gene is activated. The sucrose is extracted from the sugar cane first and then the sugarcane fibres remaining - normally material that is burnt or left in the field – can be used to produce ethanol.”
Mr Mickel said that successful outcomes would enhance the sustainability of the sugar industry while also providing key outcomes to benefit the environment and the biofuels industry.
“This could help producers move into a new industry without completely having to forgo the sugar production that has been their staple for so many years and so important to many regional communities,” he said.
Farmacule CEO Dr Graeme Bullock said the investment would enable the company to progress its “world first” research.
“INPACT stands for In Plant Activation Technology and involves inserting specific genes into the leaves, roots or seeds of a plant to enable the production of a desired biological compound,” he said.
“In this case it is the insertion of the genes controlling the production of cellulase enzymes.
“The concept of molecular farming - using genetic engineering principles to enable plants to produce valuable biological compounds - is not new.
“But our technology is and we believe it will more effectively produce significant gains for not only a potential new ethanol industry for Queensland but also in areas such as plastics, paper manufacturing and medical proteins.
“Farmacule is close to commercial release of its first mammalian protein farmed in a plant host”.
teQstart Pty Ltd was established by the Queensland Government as part of the Smart State strategy to manage the teQstart and BioStart investment funds aimed at stimulating the growth of the State’s high-technology, knowledge intensive industries.
The fund co-invests amounts up to $250,000 on a matching basis with expert private and venture capital sources. “Early stage, high-technology Queensland companies seeking to develop their intellectual property into commercially successful ventures are eligible to qualify for teQstart investment.
The teQstart Pty Ltd portfolio currently comprises 19 companies in co-investment with 10 early stage venture capital firms and one angel investment group, across both funds. Industry sectors represented in the portfolio include biotechnology and health, agricultural biotechnology, medical devices, environment, sustainable energy, nanotechnology and advanced materials, education, and information and communications technologies.
For more information about teQstart and BioStart phone Ms Ruth Drinkwater, Manager teQstart Pty Ltd on 07 3227 9702, www.teqstart.com.au.
Media Contacts:Chris Brown 3224 7349 or Elouise Campion 3224 6784
Company contact details:
Dr Graeme Bullock – CEO
Farmacule BioIndustries Pty Ltd
PO Box 15434
Brisbane City Qld 4002
Tel: 3864 8386
Email: gbullock@farmacule.com
Web: www.farmacule