€3.8 billion EU-industry investment in bio-based industries
July 10, 2013
48 companies joined forces with the European Commission to set up an unprecedented Public-Private Partnership (PPP) for bio-based industries. The PPP brings together €3.8 billion to advance the bioeconomy in Europe. The European pulp and paper industry is a strategic partner in this PPP, with 13 of the 48 member companies from the sector.
The PPP combines €1 billion of public support from the European Commission’s Horizon 2020 programme with €2.8 billion of industry investment. The initiative will create new markets and value chains for bio-based products, bringing jobs and growth to Europe. Today European Commission President José Manuel Barroso launched the Bio-based Industries PPP as part of the European Innovation and Investment Package.
Applauding the European Commission’s initiative, CEPI Director General Teresa Presas said: “CEPI has worked hard to help make the PPP become reality. It is a great initiative. This support for innovation and demonstration is much needed. It keeps investments in Europe and helps realise our industry’s future”.
The PPP will capitalise on Europe’s research leadership to bring solutions to commercial scale via pilot and demonstration projects. It brings different industry sectors together to optimise and create new value chains. Equally, the PPP is set to boost growth and jobs especially in rural areas.
Biorefineries are at the heart of this development. Unlike conventional fossil refineries that use finite fossil sources, biorefineries use various sources of sustainable biomass and waste to produce everyday products. The biorefinery concept is well placed in the pulp and paper industry, which already constitutes a large part of the bioeconomy in terms of volume and value.
The industry’s expertise in forestry, recycling, wood chemistry and fibre processing provides a unique and strategic opportunity in this initiative. The pulp and paper sector’s focus on value creation from raw materials is leading to new products such as bio-chemicals, bio-composite materials and second- generation biofuels.
