European companies are taking up the challenge of developing a bio-based economy that could reduce dependence on imported oil, but further political commitment and support will be required to keep up with the US, they say.
The concept of a bio-based economy is gaining traction in Europe.
Last month, EU Innovation Commissioner Máire Geoghegan-Quinn announced that the European Commission would present a bio-economy strategy in autumn 2011.
At the centre of the concept are bio-refineries. These are industrial plants which use renewable raw materials to produce biofuels and bio-based products used in chemicals, plastics, pharmaceuticals, cosmetics and paints.
To read the full, original article click on this link: Bio-economy poses new competitiveness challenges to Europe | EurActiv
