Agreement signed to turn waste into cosmeceutical ingredients

Posted On: May 11, 2009

New Zealand-based Industrial Research Ltd (IRL) has struck up a partnership with Fomana Capital to enable the company to develop high-value cosmeceutical and nutraceutical products from waste.

Under the agreement, Fomana Capital, the investment arm of the Federation of Maori Authorities (FOMA), will provide capital and raw materials and Industrial Research will provide the processing expertise.

Using Crown Research Institute’s science and engineering facilities, the companies will begin working with each other to develop fish oil products rich in omega-3.

The partners are planning to install a pilot plant and begin manufacturing lipids enriched with omega-3 fatty acids this year and then move to market before 2010.

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