The European Commission proposed a €3.8 billion Public Private Partnership (PPP) on Biobased Industries, in order to accelerate the commercialization of biobased products in Europe. The European Commission will invest €1 billion and industry €2.8 billion, from 2014 to 2020, to boost market uptake of new biobased products that are “made in Europe”.
The partnership promotes the use of various sources of sustainable biomass and waste to produce everyday products such as food, feed, chemicals and fuels.
The use of local biomass and waste will generate growth and jobs in rural areas across European regions, while reducing the EU’s reliance on fossil fuels, thereby offering sustainable alternatives to oil-based products and enhancing energy and food security.
Novozymes is part of this initiative alongside 47 leading European companies in the biotech, chemical, energy, agro-food and pulp and paper sectors.
"The Biobased Industries PPP is essential for Europe to remain competitive in the global race for the development of a biobased economy,” says Novozymes CEO Peder Holk Nielsen. “It is an opportunity for reindustrialization and for reversing the investment trend currently going to other regions of the world because of more attractive policy frameworks.”
The PPP will capitalize on Europe’s innovation and technological leadership to bring biobased solutions from research labs to the market. Various sectors will be brought together to optimize and create new value chains, such as connecting farmers and foresters directly to consumers.
The PPP is part of the European Commission’s Innovation Investment Package that was released. The PPP is expected to start its activities in early 2014 following approval from EU Member States.
Textiles | On 7th Dec 2016
Defying market expectations, the Monetary Policy Committee (MPC) of...
Textiles | On 7th Dec 2016
Kikani Exports, India based yarn supplier with 12 years of experience ...
Zenitex Mill Pvt Ltd
Full of green energy
Studio Priyanka Rajiv
‘To reinvent the age-old tradition of embroidery to suit demographics and...
‘RT3 motto is: Do not check millimetres, check colours.’
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Larry L Kinn
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Gildan Activewear SRL
Gildan Activewear, a manufacturer and marketer of branded clothing and...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
"Now we can see the Russian trend in international fashion. And Russian...
Textiles | On 6th Dec 2016