17 June 2013 19:36 [Source: ICIS news]
MONTREAL, Canada (ICIS)--An EU and biobased industry public-private partnership (PPP) is committing €3.8bn ($5bn) to fund multi-annual programmes for biobased projects from 2014-2020, an official at a French-based trade group said on Monday.
Biobased and Renewables Industries for Development and Growth in Europe (BRIDGE) is investing in new and sustainable ways to organise the economy, enabling rural development and reindustrialisation in Europe, said Christophe Luguel, head of internal affairs at biobased products cluster Pole Industries & Agro-Ressources France (IAR).
Funding will include €1bn commitment from the EU and €2.8bn from the Biobased Industries Consortium (BIC), which is comprised of more than 40 European companies in agriculture, agro-food, biotechnology, pulp and paper, chemicals and energy, he said at the World Congress on Industrial Biotechnology conference.
The main challenge in developing a bioeconomy in the EU is overcoming innovation and the deployment gap, Luguel said.
Europe’s ability to commercialise and produce high-value products will lie in its ability to reach demonstration scale of advanced biorefineries to mature technologies, he added.
The World Congress on Industrial Biotechnology conference runs through Wednesday.
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