Ence Energía y Celulosa announced Thursday it will participate in the accord of Biobased Industries Consortium (BIC)–a sectoral group composed of 48 large and small businesses–and the European Commission to set up a public-private partnership. With an investment of 3,800 million euros, this partnership aims to accelerate the development of bio-based products in Europe until 2020.
“This public-private partnership (PPP) between the European Commission and the BIC consortium will boost growth and employment in Europe,” Ence said in a press release, “especially in rural areas, thanks investment in new and sustainable forms of economic development.”
Among the new concepts that provides the bioeconomy, there are biorefineries, which are at the core of the bio-based economy. In this sense, unlike conventional fossil refinering using a finite and fossil resource such as oil, biorefineries use renewable and sustainable biomass and waste with the potential to produce multitude of everyday products, such as cellulose , food, chemicals and fuels.
In addition to the replacement of petroleum products for bio-based equivalent “thanks to intense R & D effort that is being made,” bioeconomy has a high potential for development of new products made from renewable raw materials, offering functionality and capabilities, Ence explained.
To realize this potential, this PPP will capitalize on innovation and technological leadership in Europe seeking bio-based solutions on a commercial scale. Different companies from these sectors will come together to optimize and create new value chains, connecting directly to farmers and foresters with consumers. It will launch demonstration projects in EU member states, who will benefit from the new opportunities for growth and employment.