INDUSTRIAL BIOTECHNOLOGY COUNCIL
The bioeconomy, which in the EU is worth an estimated €2 trillion employing 9% of the workforce, comprises the production and use of renewable biomass from land and sea, and the use of waste to make value added products, such as food, feed, bio-based products, and bioenergy.
Sitting at the heart of the bioeconomy is the biorefinery – where industrial biotechnology turns renewable raw materials, such as agriculture and forestry residues, into essential everyday products. Carbon dioxide from the atmosphere, captured by plants and algae and used as renewable raw materials, is sequestered in the end products, paving the way for a fossil-fuel free economy.
In this way, industrial biotechnology creates smarter, more sustainable products and processes based on renewable raw materials. This process is a perfect example of the circular economy, which is about using resources more efficiently and sustainably throughout the economy.
EuropaBio is also a founding member of the European Bioeconomy Alliance, a unique cross sector alliance dedicated to mainstreaming and realising the potential of the bioeconomy in Europe.