The world faces two massive global challenges – food and energy security – which could be solved by farming.

Feeding the world’s 10 billion people in 2050 will require a 70 per cent increase in food production and a doubling of our energy supply; while at the same time decreasing our carbon footprint.

A report released by Australia 21, an independent not for profit think tank, asks whether algae farming will be able to provide both the food and energy needs of tomorrow.

The report, Opportunities for an expanded algal industry in Australia, acknowledges the algae farming industry is in its infancy, but makes recommendations about how to take it mainstream.

Professor Peter Ralph from the University of Technology Sydney says Australia will need help to establish the type of vibrant and dynamic suite of algal-based industries seen in Europe and the US. 

“Apart from the small Australian population, and therefore fewer SMEs there must be something more that has constrained growth in a country that has all the natural advantages that are so right for algae farming,” he said.

“Possibly a more important question is – if the algae industry hasn’t established itself over the past 30 years, why would it be any different now?

“I’m convinced that over the next 2 – 5 years we’ll see a raft of enterprises across sectors ranging from agriculture to pharmaceuticals that will use algae both as a raw material and as a platform for new industries.

“Like any new entrant algae, as a raw material, it must disrupt the status quo that often subsidises existing businesses and supply chains.

“The fact that algae is a sustainable, planet friendly product doesn’t help the financial bottom line – at this stage at least. This is where the science, R&D and entrepreneurship need to meet to improve the efficiencies along the algal production chain.

“We are addressing the issue of connectivity with a recently funded NSW government initiative called the Deep Green Biotech Hub; where innovators, universities, business and government can meet.

“This catalyst for innovation has significantly increased the visibility of algal based biotechnologies,” he said.

Professor Ralph said there was general agreement at the Australia21 roundtable that a roadmap is needed to articulate strategy with government and potential investors to demonstrate how algal farming can benefit Australia.

“Although algae based biofuels may get us some way along the way to our goal, it’s clear that the production and extraction of high value products for new industries will get us closer to our desired destination. That’s a prospect that is both exciting and also within reach,” he said.