Essential Oils of Tasmania, a local producer of essential oil crops and unique plant extracts, has received a $1,134,208 grant from Commercialisation Australia to support the commercialisation of its proprietary innovation extraction technology.
The grant will provide benefits such as creating regional jobs, export opportunities and a wide range of collaboration with global organisations in the luxury industry.
The funding will lay the foundations for an Australian perfume industry that will provide a blueprint for Australian IP to develop stronger agribusiness ties internationally.
The grant will also provide benefits to Australian agricultural and aquaculture industries through the creation of a new Tasmanian manufacturing industry.
Managing director of Essential Oils of Tasmania, Stephen Gleenson, will manage the next step of growth.
‘‘We will leverage these funds and make a significant investment into Tasmania that will benefit other perfume crops, creating new jobs and export revenues,’’ Mr Gleenson said.
“We thank Commercialisation Australia for its support of this worthwhile and important project for Tasmania and Australia.”