University of Tasmania
IN-50: Innovation D

The University of Tasmania is leading the largest-ever Cooperative Research Centre (CRC) in Australia, bringing together expertise in seafood, renewable energy and offshore engineering to transform Australia’s blue economy and deliver innovative solutions that will transform the way we use our oceans. The Blue Economy CRC's vision is "to enhance the development of Australia’s sustainable blue economy through the delivery of world-class, industry focussed research into integrated seafood and renewable energy production systems." It aims to 1) increase offshore aquaculture production and decrease production costs; 2) increase offshore renewable energy generation and use; 3) increase sustainability and community trust in Blue Economy industries; 4) increase regional economic growth, and 5) create a trained workforce for the future.
Australia has the third largest Exclusive Economic Zone with over 80% being classified as offshore, beyond two nautical miles from the coast and subject to oceanic waves, tidal currents and wind. Renewable energy from these sources can be captured and converted into electricity for both onshore and offshore use, as well as transformed into energy ‘carriers’ such as hydrogen, for storage or export. Australian aquaculture is challenged by the lack of suitable inshore sites and the knowledge to operate effectively in remote and/or exposed offshore environments. By overcoming these challenges, Australia can substantially develop its tropical, sub-tropical and temperate aquaculture industries.
The Blue Economy CRC will, for the first time bring the aquaculture and renewable energy sectors together to address the challenges of offshore food and energy production, that leverages the benefits of colocation, vertical integration, infrastructure and shared services. Offshore engineering will be central to this emergence.
The $329 million research project is a 10-year collaboration between 45 national and international partners from industry, research and government, underpinned by a $70 million cash investment from the Federal Government.