Callaghan Innovation approached the KiwiNet Investment Committee (IC) with a project proposal, seeking PreSeed investment to support development of their extraction technology to a commercial stage.
By de-risking the technology with the PreSeed project, Callaghan Innovation could then transfer the technology to industry partners for further investment and full commercialisation of the product opportunities that are identified.
The IC was excited by the technology and approved the investment of PreSeed. However the committee identified that the project could benefit from extracting more high value carotenoids – such as astaxanthin.
Callaghan Innovation took the advice on board, and since the beginning of the project has successfully demonstrated astaxanthin extraction capability, and has licenced this IP to a commercial partner.