The BioBusiness Alliance of Minnesota (BBAM) recently released its Bio-industrial processing roadmap for the advanced biofuels and biobased chemicals industry to provide information for investors, businesses and stakeholders.
According to BBAM’s projections, direct and indirect employment in bioindustrial processing companies in Minnesota could total in excess of 13,000 by 2025, up from 2,000 last year. Bioindustrial processing companies in the state include Segetis, BioAmber, XL Terra, Reluceo, Cargill Industrial Oils and Cargill BioH, Butamax, Gevo, NatureWorks, CHS, BioCee, Starch Tech, Natur-tec, EarthClean, Cortec, Lonza, Agristrand Biocomposites, Entropy Solution, Butrolix, and Jet-E.
Other key points the organization wants to put out is existing infrastructure needed for integrated biorefinery development as well as sufficient agricultural and forest resources available for biobased chemicals and advanced biofuels feedstock.
The report includes specific policy recommendations developed to support the development of bioindustrial processing. Of course, a major factor in establishing this type of industry is to ensure availability of funding options for companies interested in “putting roots” in Minnesota.
Financing will be of critical importance to the industry. A full spectrum of investment is needed, from seed and angel funding to venture capital and long-term debt capital.
• Educating investors and financial institutions about the unique opportunity to develop the bioindustrial processing industry in this region, and
• Ensuring awareness, availability, and access to federal and state financial support to accelerate research and development through full-scale manufacturing
BAM is also holding its Renewable Materials Summit in Fargo, North Dakota, on May 15 to talk more about biorefinery business opportunities.