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2007-03-19 | permalink
Grain Biotech Australia to shut down
The Perth biotechnology firm, Grain Biotech Australia, says the moratorium by the government on GM crops is largely to blame for its decision to shut down. GBA has been working to develop a genetically modified salt-tolerant variety of wheat, and received one-off funding of more than one and a half million dollars from the Grains Research and Development Corporation. But GBA business development manager, Alan Tough, says that hasn’t been enough and it now looks like their research will be in vain. Mr Tough says the benefits of the work they’ve already done would be to add $23 a tonne to WA grain prices. He says investors are reticent to inject more funds into the company while there is an uncertain future around GM crops.
Overview
News
2007-03-19 | permalink
Grain Biotech Australia to shut down
The Perth biotechnology firm, Grain Biotech Australia, says the moratorium by the government on GM crops is largely to blame for its decision to shut down. GBA has been working to develop a genetically modified salt-tolerant variety of wheat, and received one-off funding of more than one and a half million dollars from the Grains Research and Development Corporation. But GBA business development manager, Alan Tough, says that hasn’t been enough and it now looks like their research will be in vain. Mr Tough says the benefits of the work they’ve already done would be to add $23 a tonne to WA grain prices. He says investors are reticent to inject more funds into the company while there is an uncertain future around GM crops.
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