BBI JU says European bio-based industry sector already work EUR700 billion

October 8, 2019 |

In Belgium, the Bio-based Industries Joint Undertaking says that in Europe, the bio-based industries sector is already worth EUR700 billion and employs 3.2 million people directly, but it faces complex and substantial technology and innovation challenges. Since 2014, the catalyst for the development of bio-based industries in Europe has been BBI JU, a EUR3.7 billion institutional public-private partnership between the European Union (EU) and the Bio-based Industries Consortium (BIC). This partnership was created to structure the sector and make the European bio-based industry more competitive and sustainable, and so far it is well on track to deliver on its promises.

As an example of the socio-economic impact, the first nine biorefinery flagship projects alone will generate more than 3,000 direct and 10,000 indirect jobs, well spread throughout Europe. They will also leverage EUR1.2 billion of investments from industry, contributing to rural revitalization and delivering bio-based products with a lower greenhouse gas footprint.

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