An Introduction to Project Olea
For a weekly blog, I’m a little bit behind! I haven’t posted a blog for a fortnight and I want to explain why.
I’ve taken on a new project that I want to tell you about!
With my co-founders, Justine and Mark Cohen, we have founded a company we’ve called Project Olea. We’re working on building a circular economy within Australia’s olive industry. ‘Olea’ is latin for olive so we thought the name was fitting, and we see the challenge as a problem-solving project, hence the ‘Project’.
Young businesses are exciting ventures where things happen quickly due to the do-or-die nature that comes with being at the forefront of innovation. I can’t wait to share the journey of Project Olea through this blog, starting with this one; The Introduction.
The Inception
Throughout the journey of building a consulting business, I’ve met many inspiring and wonderful people along the way. Two of those people are Mark and Justine, who approached me to be part of the SproutX pre-accelerator program that they had been accepted into and to form a business together. The focus of the program is AgTech, and it just-so-happened that we have access to one of Australia’s largest agricultural waste products, olive pomace. We set out with an aim to create a circular economy with olive pomace waste (the olive waste after oil has been extracted), and with this idea, Project Olea became a reality.
The Problem
Olive pomace is the green olive waste that is a byproduct of the olive oil production process. Olives are pressed for oil, and what is left becomes a huge issue for olive millers. Firstly, it is a low-value resource that is very wet, making logistics, transport and storage challenging and costly. ‘What currently happens to the waste?’, you might ask. There are a couple of predominant usages that are again, low value and high effort for the olive millers.
It can be burned for fuel
It can be treated and added to livestock feed
It can be composted, but at a detriment to the soil (it is phytotoxic and not great for the soil)
Despite a global shift towards building sustainable systems, very few solutions exist that are worth the effort to repurpose the waste. Having said that, our research shows that olive farmers desperately want technology that can help valorise their waste product and reduce their overall wastage.
How big is the problem?
Between 2020 and 2022, the volume of olives harvested in Australia ranged between 50,000 and 130,000 tonnes per annum (Hort Innovation, 2021/22 Australian Horticulture Statistics Handbook). The harvest season lasts for 3 months, adding to the issue of huge quantities of olive waste within a short timespan, creating headaches for olive oil processors.
The solution
This is exactly what Project Olea’s purpose and mission is; to utilise innovative biotechnology and elevate waste up the food hierarchy.
Project Olea will investigate processes to convert pomace, the by-product of olive oil production, into a sustainable and cost-effective material, ingredient, or food product. Project-olea.au
It’s an exciting time to share our journey with you as we’re just getting started. You can be sure that we aren’t leaving any stone unturned. Our research has already been fruitful in that we have uncovered some great applications for this ancient food, and will be applying this knowledge, addressing potential markets and focusing on the sustainability of any operations we undertake.
Technology has come a long way in recent decades, so it is our belief that now is the time to take on this challenge. We have access to state-of-the-art technology, there is a global push towards sustainable agriculture and circular economies within food production, and we see it as an opportunity to make a difference. Just imagine 130,000 tonnes of food going to waste every year, when 43 million people in 38 countries across the globe are at risk of falling into famine or a severe hunger crisis. Solving the waste problem for olives feels like a no brainer and it will only put us in a position to apply our strategy to many more agricultural byproducts.
What’s next for Project Olea
At this stage, we’ve just set off from the starting line. We know we have a long road ahead, many challenges to face and goals to reach, many of which I will share through this blog. We are taking a multi-dimensional approach to this challenge and are actively working on proof-of-concept products to propel us forward.
If you, or anyone you know would be interested in collaborating with us on this epic challenge, reach out to any of us at Project Olea or through our website and we’ll be happy to bring in many great minds to make the most effective use of this opportunity.
Click on our logo to check out our website for more information and to sign up to our newsletter.
I’d like to acknowledge the SproutX pre-accelerator program for supporting our vision, which is directed by Maxie Juang and gives ideas like ours a platform to establish and grow into a business.
To hear more about AgTech, FoodTech and BioTech, subscribe to the mailing list for this blog and you’ll receive periodical updates on the progress of Project Olea.
