Unique plant bio-based super high oleic safflower oil, replacing petroleum and palm oil based products
Investors to support the company growth ($5M capital raise) to produce fully biodegradable bio-lubricants, transformer oils, cosmeceuticals and food products, this may include:
Equity investors interested in exploring co-investment opportunities
Global manufacturers of petroleum based lubricants
Exclusive management of the entire supply chain.
Industry challenge: Investors, consumers, organisations and governments are driving a global shift toward sustainability and are increasingly demanding environmentally friendly options. Plants provide an alternate option as they can produce a wide range of compounds that can be used as raw materials for making industrial chemicals.
But bio-based oils vary considerably. Compared to palm oil, high oleic (HO) sunflower oil, HO soybean oil and HO canola oil, super high oleic (SHO) safflower oil provides superior thermal properties and functionality. This is because of its super high level of the monounsaturated oleic acid and low levels of both saturated and polyunsaturated fatty acids. This makes it ideal for use in fully biodegradable bio-lubricants, transformer oils, cosmeceuticals and food product applications.
Current opportunity: Super high oleic safflower oil (SHOSO) is a renewable, biodegradable alternative to petroleum and palm based raw materials with applications in the bio-lubricants, biochemical and bioplastics industries. GO Resources is seeking parties to support their expansion into bio-lubricants, biochemical and bioplastics industries. Current estimates are that these products are 10% of the global lubricant market equating to a value of around $22B per annum.
Developed by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) with investment from the Grains Research and Development Corporation (GRDC), the team has succeeded in producing safflower seed oil that contains >90% oleic acid. The oil is non-toxic, tolerant of high temperatures and is a ‘net zero carbon’ product.
There is no commercially available plant-based oil that has this high level of oleic acid. This, combined with very low levels of other fatty acids, provides considerable advantages in superior thermal properties and functionality compared to other oils (canola, soybean, sunflower). The crop itself is hardy and adaptable, works well in rotational cropping and produces high yields even under dry conditions.
GO Resources has developed products and initiated market engagement in areas including transformer oils, food oils and personal care.
GO Resources has established relationships with independent partners for all key aspects of the business, including seed production, plant breeding, crop production, grain handling, crushing and refining, blending packaging and distribution. One of the products commercialised is the HeartSmart safflower cooking oil with a renewed contract to supply Woolworths supermarkets across Australia.
Although there is traction in different markets and globally, GO Resources is looking to expand the business both domestically and internationally and is seeking interested parties to discuss options. GO Resources is quite flexible as to the approach.
Potential other applications: The oil can be utilised in all markets where petroleum-based products are used such as:
- Agricultural Surfactants
- Coatings, paints and inks, and
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