Research can start into sustainable offshore seafood production and renewable energy development in Tasmania after the Blue Economy Cooperative Research Centre received its final funding this week.
The Commonwealth signed off on its $70 million contribution, to be combined with $258 million from the private sector and $2 million from the Tasmanian Government over 10 years.
The research centre, based at Newnham, offers 50 PhD positions and 50 post-doctoral research fellowships to make Tasmania a world-leader in aquaculture research and development.
Blue Economy CRC chairperson Greg Johannes said there were opportunities for offshore renewable energy projects to combine with sustainable seafood production.
"This program [will] deliver significant change in the way offshore aquaculture and renewable energy development occurs, which will be significant not just to Tasmania, and not just to Australia, but to the entire world," he said.
"In practice, we will be running research projects in five different programs, things like offshore engineering, sustainable seafood products, renewable energy and regulatory environments.
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"Each of those projects will bring together a mix of research institutions, the private sector, the public sector in Tasmania and Australia, and across the world, to really drive leading edge research and commercialisation of new products."
One of the key outcomes was helping the offshore aquaculture industry shift away from a reliance on diesel for energy and instead adopt offshore renewable energy technology.
The Blue Economy CRC was promised funding during the election campaign, and the $70 million Commonwealth grant was one of the largest awarded under the CRC grant program.
Tasmanian senator Jonathon Duniam said the projects developed by the Blue Economy CRC would create jobs in emerging industries.