EC unveils an unprecedented 3.8 billion euros investment in biobased industries

European Commissioner Máire Geoghegan-Quinn
European Commissioner Máire Geoghegan-Quinn

The Biobased Industries Consortium (BIC), a cross sector group of 48 large and small companies, has joined forces with the European Commission to set up an unprecedented Public Private Partnership worth 3.8 billion euros to accelerate the deployment of biobased products in Europe by 2020.

The Biobased Industries PPP is part of the European Commission’s Innovation and Investment Package that was released today in Brussels. The package is intended to stimulate the European economy, create jobs and tackle major societal challenges through research, innovation and deployment.Commenting on the Innovation Package José Manuel Barroso, President of the European Commission, said that “the EU must remain a leader in strategic global technology sectors that provide high quality jobs. This innovation investment package combines public and private funding to do just that. This is a perfect demonstration of why the EU budget is a budget for growth.”

According to Máire Geoghegan-Quinn, European Commissioner for Research, Innovation and Science,”the emerging bio-based industry sector is set be the game-changer for stimulating smart, sustainable and inclusive growth in Europe. Europe must develop technology leadership in this sector, which is why the EU and industry are backing this new Joint Technology Initiative.”

The Biobased Industries PPP also known as ‘BRIDGE’ – Biobased and Renewables Industries for Development and Growth in Europe – is set to boost growth and jobs, especially in rural areas, as it invests in consolidating a network of integrated biorefineries across Europe. The aim is to connect sectors which would otherwise not be linked and spur the creation of new local value chain bridging research knowledge into added value products such as such as food, feed, chemicals, and materials.

Catia Bastioli, Ceo of Novamont, one of the key companies involved in the Biobased Industries Consortium since its starts origin,  welcomed today’s announcement and said to Il Bioeconomista: “This is a unique partnership which comes at a critical time for European development of the bioeconomy . Do more and better with less while acting in synergy with local areas and ecosystems through integrated biorefineries,  accelerating the creation of new bio based products and markets”.

Now the proposal will be passed on to Council and Parliament and Il Bioeconomista will keep you updated on the developments of this unprecedented partnership set to boost the European bioeconomy.

Isabella Dalbelgio

(Brussels correspondent)

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