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€3.7 Billion to Realise the Potential of Bio-based Industries in Europe

15 July 2014

The European Union and the Bio-based Industries Consortium (BIC) have launched the Bio-based Industries Joint Undertaking (BBI).

 

According to BIC and the EU, the BBI is a new public-private partnership dedicated to breaking Europe’s dependence on fossil fuels by converting biomass and wastes into greener everyday products. Innovative technologies and advanced biorefineries are at the heart of this initiative which is focused on deployment and the creation of new markets for bio-based products such as food, feed, chemicals, materials and fuels.

 

Marcel Wubbolts, Chief Technology Officer at DSM and Chairman of the Bio-based Industries Consortium said: “As the private partner in this new endeavour, we are thrilled about having been able to translate the ambitions of multiple sectors into one coherent vision; into concrete actions that place sustainability at the heart of all business activities.”

 

Dirk Carrez, Executive Director of the Bio-based Industries Consortium added: “Without this partnership with the EU, industries across sectors wouldn’t have taken the risk to invest in this emerging sector in Europe. The BBI is an achievement as such, but only the start of a long-term project where the combination of European, national and regional financing instruments will be essential to realise our full potential.”