Bioeconomy worth 2.4 trillion EUR to the European economy as bio-based industries mark sizeable jump in turnover and bio-based share of chemicals reaches record high of 15%. The bio-based industries continue their ascent marking a total contribution of 750 billion EUR to the European economy in 2017, a notable increase of 50 billion EUR (+>7%) compared to 2016.
The new Action Plan announces initiatives along the entire life cycle of products, targeting for example their design, promoting circular economy processes, fostering sustainable consumption, and aiming to ensure that the resources used are kept in the EU economy for as long as possible.
“To increase awareness of the financing opportunities promoted by the European Union to support the development and growth of the European bio-based sector, focusing particularly on demonstration and flagship projects”. This is the aim of a new report presented yesterday by the Bio-based Industries Consortium (BIC).
“BBI JU calls see project proposals receiving excellent evaluation scores, but are often not granted due to budget limitations”.
The report outlines the opportunities available for financing these activities, allowing companies to pursue their investments in Europe.