Tasmanian firm secures funds to develop prawn farming technology

Tasmanian company AQ1 Systems has secured A$1.85 million (US$1.56 million) in funding to develop cutting-edge technology for the global prawn farming sector.

Australian minister for Economic Development Michael Aird said funding from the Commonwealth Scientific and Research Organization (CSIRO)'s Australian Growth Partnerships programme will allow AQ1 Systems to work with the world class Tasmanian ICT Centre on smart sensor systems for prawn aquaculture.

Aird said the collaboration is predicted to provide A$15 million in extra revenue for Australian prawn farmers and open global markets in excess of A$500 million for AQ1 Systems.

He said the project aims to reduce feed wastage and improve feed utilisation to improve the growth rate of farmed prawns, which would mean more prawns per pond and larger prawns with higher market value.

US$1 = A$1.186 (Aug 14)