An initiative to support the development of Europe’s bioeconomy aims to help companies with bio-based products to move from research and demonstration to commercial deployment.
The plan to establish the Bio-based Europe Alliance (BEA) was first set out under the EU’s Bioeconomy Strategy, as one of three initiatives to support the growth of the bio-based sector. The BEA is backed by more than 100 companies and organisations and founding members include Arkema, Eastman, L’Oreal, Neste, Technip Energies, and Unilever.
Launched during the Global Bioeconomy Summit, which was held in Dublin, Ireland, in October, the BEA seeks to addresses one of the challenges identified in the EU’s Bioeconomy Strategy - the struggle faced by many bio-based companies to move from research and demonstration to commercial deployment. This is often because their products have poor visibility in the market and suffer from weak demand.
The European Commission said that the BEA provides a collaborative framework for businesses and public authorities to develop markets for bio-based materials and technologies to “generate demand-pull signals across the bio-based value chain.”
“Greater demand predictability will help producers and technology developers secure investment for new facilities, scale-up innovative processes and achieve economies of scale, enabling more competitive products to reach the market,” the Commission said. The BEA will also play a role in helping to shape emerging European bio-based markets and demonstrate demand for alternatives to fossil-based materials.
The BEA will focus on two market categories: bio-based material markets and bio-based technology markets. The first covers plastics and polymers, fibres and fabrics, chemicals, construction products, and fertilisers and plant protection products. The second covers biorefineries, advanced fermentation, and permanent storage of biogenic carbon.
Benefits for members of the BEA will include strengthened supply chain security, access to emerging bio-based technologies as they scale, and supporting the EU’s bio-economy through off-take agreements. This is underpinned by a commitment from the BEA to help mobilise purchase agreements worth €10 billion by 2030 for bio-based materials and products.
Jessika Roswall, European commissioner for environment, water resilience and a competitive circular economy said the bioeconomy represents a strategic opportunity that Europe has the talent and innovative capacity to seize.
"The Bio-based Europe Alliance will turn this potential into real market impact by bringing together buyers and suppliers, and giving visibility to demand. This will help innovative bio-based companies scale up. Reducing our dependence on fossil-based materials will make European economy more competitive, circular and resilient,” Roswall said.
Also launched at the Dublin Summit, was the Global Bioeconomy Partnership (GBP). The GBP is focused on what it describes as “three Bold Bets.” These are: positioning the bioeconomy for the post-Sustainable Development Goal era; growing a common understanding recognising the diversity of visions and pathways and connect them; turning bioeconomy ambition into investment, financing and implementation, and engaging companies, producers and investors. The GBP is initiated and led by the International Advisory Council on Global Bioeconomy.
Further reading:
- Bioeconomy boost as Europe unveils three new initiatives
- Singapore boosts bioeconomy with new funding initiative
- Six new centres aim to grow bioeconomy research
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