SeaStock gets $740,000 FaBa funding to progress seaweed-based red food dye production

Algae-based food ingredients company SeaStock has been awarded $740,000 in funding from Australia’s Food and Beverage Accelerator (FaBA) for a project developing red pigment from asparagopsis seaweed.

Australian asparagopsis research has led to numerous startups using the red algae to create food supplements, which in small dosages can greatly reduce the amount of methane (a potent greenhouse gas) produced by the burps and farts of ruminant animals such as cows.

SeaStock, however, is undertaking this project to develop and certify, “safe, high-purity ingredients that meet Australian and international food and beverage standards”.

According to a statement from the company on Thursday, it marks a “critical step forward” for commercialisation of its RUBY SEA product, described as “a high purity, naturally derived red pigment (R-Phycoerythrin (R-PE))” extracted from sustainably cultivated asparagopsis.

The project will cover extraction of the ingredient, identification and evaluation of commercially viable co-products, data supporting regulatory approval by Food Standards Australia New Zealand (FSANZ) and international bodies, and bench-scale to pilot-scale production.

Co-founder and Managing Director of the company, Tom Puddy, said of the grant: “It validates the scientific and commercial potential of our circular production model and IP-led strategy.

FaBa Director Dr Chris Downs added that SeaStock’s approach to developing clean label, functional ingredients “aligns strongly with FaBA’s mission” of supporting science-led commercialisation for food and beverage manufacturing.

“By replacing synthetic additives with natural compounds, SeaStock has the potential to help shape a more sustainable and health-conscious future for consumers.”

SeaStock is based in Fremantle, Western Australia. As with startups including CH4 Global and Sea Forest, it is a licensee of intellectual property from FutureFeed, which was established by CSIRO.

FutureFeed is a patent-holder for manufacturing of asparagopsis oil. According to its website, there are currently nine companies globally that have licenced its IP.

Picture: credit Neto AIA, Prestes ACL, Azevedo JMN, Resendes R, Álvaro NV, Neto RMA, Moreu I (2020.) Biodiversity Data Journal (CC BY 4.0)