ARENA will contribute $4.03 million to Sydney-based Microbiogen, part of an $8.06 million project to breed and optimise the organism, which will convert non-food sources of feedstock into biofuel.
The grant can be recouped based on Microbiogen’s future revenues from the new yeast strain developed in the project. Microbiogen, a private company formed in 2001 as a spin-off from Macquarie University, now employs 18 people.