EVE Investments (ASX: EVE) reported its 50%-owned Meluka Health has received a New South Wales TechVoucher grant worth up to A$15,000 to support its bee health and honey research.
Via the TechVoucher grant, wellness and nutrition company Meluka Health can be connected with an expert within its research field to begin a joint study.
The grant also provides access to high tech facilities.
As part of the grant, Meluka Health must match the funding with its own cash.
Meluka Health is investigating the therapeutic value of its honey, which it will pursue further with the grant. Meluka Health also believes adding its melaleuca tea tree extract into hives may enhance cleanliness and prevent disease.
Using the grant, Meluka Health’s research will look at the impact of bees pollenating on tea trees on European honey beehives and the potential for preventing bacteria diseases in these bees.
This latest news comes after Eve Investments announced Meluka Health had produced Australia’s first organic hemp seed honey.
Meluka Health’s wholly-owned subsidiary Medic Honey combined raw honey and hemp seed to create the product, which the company claims contains protein, essential fat and vitamins.
The hemp seed honey will be sold under Meluka Health’s brand and the product is anticipated to be ready for distribution by the end of the year.
Medic Honey will be responsible for marketing the hemp seed honey throughout Australia, while in the United States, Naturally Australian Products will distribute the product.
Eve Investments entered a binding agreement to take a 50% interest in Meluka Health for A$1.49 million in May this year. Jenbrook owns the other 50% stake in Meluka Health and has a certified organic melaleuca tea tree farm, which it developed to harvest and sell into the growing global tea tree market. Jenbrook also brings to the joint venture its established businesses throughout the value chain, including its US distributor Naturally Australian Products.
Focussed on investing in technology start-ups, Eve Investments’ strategy is to partner with companies that possess a “unique business plan” that separates them from competitors. Eve Investments also outlines it selects “global minded companies” and is always looking for opportunities to partner with “motivated and assiduous” businesses.