DSM slams Europe on lack of renewables investment

09 March 2009 16:31  [Source: ICIS news]

LONDON (ICIS news)--Europe’s lack of investment in renewable chemical and biofuels technologies is putting it in danger of lagging behind countries such as the US, Dutch producer DSM said on Monday.

“It is not wise for us in Europe, as we will be at a disadvantage for patent development and knowledge. I regret that Europe has been so slow in stimulating this. In general, we are lagging behind,” said DSM CEO Feike Sijbesma.

Driven by the urge to make the US more independent of Middle East oil, the country’s Department of Energy has announced plans to spend $1bn (€790m) on biofuels research and development. Six demonstration plants are now under development there.

In comparison, the EU’s seventh cooperation framework agreement is only spending €55m.

There are also other investments by individual countries, such as a €90m grant by the French Industrial Innovation Agency.

This group partly funded DSM’s succinic acid demonstration plant, at Lestrem, France, which is scheduled for completion by December 2009. 

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By: Will Beacham
+44 20 8652 3214

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