Immersion Group Receives Funding for Feasibility Plant in Portland, Victoria
Immersion Group has received $450,000 funding under Regional Development Victoria’s Portland Diversification Fund to complete a feasibility study and business case to build our future production facility in the town.
Funding will be directed to community engagement, engineering design, business case development and project management outcomes.
Portland Q&A:
-What would a proposed onshore aquaculture facility look like and entail for Portland?
Immersion Group is excited by the opportunity to undertake a detailed feasibility study and business case for a future seaweed production plant through support from the Portland Diversification Fund. We view stakeholder engagement as an important first step to understand the expectations of the Portland community. This feedback will help to shape the engineering design for the project before we develop a final layout or select a site.
-Why is the Portland region being seen as the right location for the proposed aquaculture facility?
Immersion Group has been assessing the Portland region as a potential location for Asparagopsis production since 2021. Portland is located in the heartland of south-west Victoria’s dairying region. We view dairy cattle as a key market for Asparagopsis seaweed given its ability to reduce methane emissions by over 80% in ruminant livestock. Portland has a temperate, stable climate with lower summer temperatures and less extreme weather events overall. There is also an abundance of natural resources on Portland’s doorstep including geothermal energy and the pristine waters of the Southern Ocean which are home to an abundance of native seaweed species, including Asparagopsis.
-How does Asparagopsis reduce methane emissions when added to livestock diets?
It only takes a very small amount of Asparagopsis to be added to the daily feed of a cow or a sheep in order to block the process that generates methane in the rumen. Methane is a very powerful greenhouse gas, so by reducing it there is an obvious environmental benefit in terms of reduced emissions. Where Asparagopsis has another ace up its sleeve however, lies in its ability to improve feed conversion efficiency. Rather than losing a significant amount of energy through methane-laden burps, Asparagopsis supplementation means that this energy is retained by the animal and redirected into its growth, producing milk or condition. In a practical sense, this means that a ruminant animal fed Asparagopsis needs less feed to achieve the same (or better) productivity outcomes via an improvement in feed conversion efficiency.
-How will the proposed facility benefit Portland's economy and local industry?
Immersion Group is preparing a comprehensive business case and feasibility study that will support economic diversification by unlocking the construction of a future seaweed production plant in Portland. The proposed facility would create more than 50 new full-time jobs in Portland and position the region as a leader in seaweed aquaculture globally. Local procurement would be prioritised during the construction and operational phases of the project and local builders, plumbers, electricians, truck drivers, tank makers and logistics firms would all benefit from the work.
If you have any questions about this project, please don’t hesitate to reach out to Immersion Group’s CEO, Scott Ellliott via: scott@immersiongroup.com.au