MoU to accelerate sustainable new technologies

Life Sciences Queensland (LSQ) and Bioindustrial Innovation Canada (BIC) have signed a memorandum of understanding to accelerate the commercialisation of advanced new technologies. LSQ is an industry organisation working to provide opportunities for life sciences firms in Australia, while BIC is an accelerator for the commercialisation of large-scale industrial biotechnology and related sustainable chemistry.

The MoU, signed in San Diego in the lead-up to the BIO International Convention, calls for collaboration on such areas as composites, chemicals from sugars and lignin-based materials. The two organisations will promote the human capital agenda and develop research, development and demonstration projects for technologies that convert sustainable feedstock into energy and value-added chemicals and materials.

LSQ Chair Peter Riddles and BIC Chair Sandy Marshall at the formal signing ceremony for the MoU between the organisations.

“Our organisations will work together to advance technologies in the area of conversion of biomass and renewable raw materials into value-added bio-based products,” said Dr Murray McLaughlin, executive Director of BIC. “This partnership recognises the key elements of the Canadian and Queensland innovation strategies, including the concept of regional innovation clusters and development of an industry around sustainable products.”

BIC and LSQ agree to work together to exchange information and establish business relations between their networks and members. They will share knowledge and best practices, organising seminars and scientific conferences, attracting and developing young talent, development of joint educational programs in the field of novel bio-based processes and products and wide communication of scientific results.

“We are situated in two western jurisdictions with the ability to grow and develop vast quantities of biomass,” said Mario Pennisi, CEO of LSQ. “It makes strategic and economic sense that LSQ and BIC work together to leverage the know-how, interest and innovations of the respective stakeholder groups for mutual benefits and outcomes with global impact.”

The MoU will run for a three-year period.