AUSTRALIA, Sydney. The Meat & Livestock Australia will receive $6 mill. under Round 3 of the Rural Research and Development (R&D) for Profit programme for a project looking at ways to convert wastes from sectors including intensive animal production into valuable products. Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce, announced the grant. The project will develop technologies and business models to capture a market opportunity worth more than $100 mill. a year by 2025.
The Rural R&D for Profit programme funds projects that address the government's rural RD&E priorities: advanced technology, biosecurity, managing natural resources, as well as promoting industry and on-farm adoption of R&D. The first two rounds of the Rural R&D for Profit programme delivered grant funding of almost $79 mill. for 29 projects, matched by more than $109 mill. in cash and in-kind contributions from successful grantees and their partners.