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Mega deal for New Zealand science

26 March 2009

Mega deal for New Zealand science

The patented omega-3 emulsion technology developed by the Riddet Institute is to be marketed worldwide through Croda Europe Ltd, a world leader in natural based speciality chemicals and oils. Croda has more than 4,000 employees in 38 countries.

It was announced today that Croda will market omega-3 emulsions to food products manufacturers in the United Kingdom, Europe and North America under an agreement signed this week between Croda and Speirs Nutritionals, the joint venture set up to manufacture the emulsion, comprising the Riddet Institute, Speirs Foods, the Bio Commerce Centre and Massey University.

Principal inventor of the technology and co-director of the Riddet Institute Professor Harjinder Singh said, “This agreement is a tremendous endorsement of New Zealand science. Croda searched the globe for this technology and found what they needed in New Zealand. It is very encouraging for the Riddet Institute, a Centre of Research Excellence, as it shows that we are the forefront of our field world-wide,” he said.

Minister of Research, Science & Technology Wayne Mapp said, “The success of the Riddet Institute in commercialising science shows the desirability of specialising. New Zealand has to focus its science effort to get international success.”

The omega-3 technology allows the addition of significant quantities of the essential fatty acids in fish oil to foods, without a residual fishy odour or taste. The technology prevents oxidation of the fish oil and allows a longer shelf life for those products containing the emulsion. It has huge potential in the manufacture of specialised high-health functional foods.

The Riddet Institute is one of just seven prestigious government-funded Centres of Research Excellence (CoRE), and is the only new CoRE to be formed since 2003.

ends

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