Home / Knowledge / News / Textiles / Europe to invest €3.8bn in bio-based economy
Europe to invest €3.8bn in bio-based economy
16
Jul '13
8 Companies join forces with the European Commission to set up a Public-Private Partnership and accelerate the deployment of biobased products in Europe

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. 

Novozymes

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X