Regenerative Aquaculture Farming on the NSW South Coast: Investigation of Business Cluster

Regenerative aquaculture farming as a solution for food security and economic growth gains more traction. These regenerative practices involve cultivating of seaweed and shellfish in coastal areas to meet seafood demand sustainably. Research suggests it can benefit ocean health and at a large scale create significant economic opportunities for coastal communities around the world, expanding on the USD $264 billion in revenue and employment opportunities for 20 million people that the aquaculture sector is already providing to. However, clear implementation pathways are critical. This report examines the business cases for kelp and shellfish farming on the NSW South coast from an innovative industry cluster perspective. While kelp farming lacks a clear business case due to unknown biomass models, there is significant potential for growth from a market demand site. Currently, a few businesses processing beach collected kelp into value-added products for local/ national consumption. Furthermore, innovation in kelp is striving through a novel kelp hatchery. However, further progress in regenerative aquaculture farming is prevented by complex and costly application processes (see reports 1-3). Shellfish farming is well established in the NSW South Coast and offers significant opportunities for scaling and diversification. This report centres around two established business case studies from the NSW south coast (kelp and shellfish) to illustrate the opportunities, challenges, and bottlenecks for each business case. The report will further mapout existing and emerging innovative aquaculture businesses within the region before concluding with key recommendations for government and industry.