January 30, 2024
Scottish Funding Council gives long-term investment commitment
The Industrial Biotechnology Innovation Centre (IBioIC) has been awarded long-term investment from the Scottish Funding Council (SFC).
The commitment, announced by the First Minister earlier today, should let the innovation centre continue to support Scotland’s transition to net zero by exploring the creation of more sustainable materials, consumer goods and pharmaceuticals using bio-based alternatives to petrochemicals.
IBioIC delivers support for industrial biotechnology research and development, early-stage entrepreneurship – including university spin-outs and start-ups – and helps develop the skilled workforce the green transition requires.
The innovation centre is a key driver of Scotland’s National Plan for Industrial Biotechnology , which sets out a target of £1.2bn in associated turnover and 4,000 direct employees by 2025.
In the decade since IBioIC was founded, it has supported more than 260 companies through projects valued at £6.8m, which has in turn generated £35m in further investment from other sources.
To date, IBioIC has also delivered skills programmes valued at £25m, supporting more than 467 students and connecting key universities and colleges with industry partners.
Chief executive Mark Bustard said: “The renewed commitment from SFC secures the long-term future of IBioIC and allows us to move into a new phase of supporting the acceleration of Scotland’s bioeconomy.
“We now have our sights set on generating further impact and ramping up our efforts to connect the world-leading powerhouse of Scotland’s universities and colleges with industry, alongside activities that will fuel the development of further early-stage companies and secure inward investment into this vibrant bioeconomy cluster.”
SFC chief executive Karen Watt added: “Today’s announcement builds on a decade of astute investment that has produced significant dividends in terms of new products, new processes and new jobs.”
Unlocking Renewable and Sustainable Sugars Key to Circular Bioeconomy Research led by University of California, Davis, sheds new light on how to access the sugars
The International Energy Agency (IEA) published the results of its review on Finland’s energy policy on 5 May 2023. According to the review Finland’s nuclear
Sulzer was recently selected by a major energy producer in Canada that is using local canola (rapeseed) oil to produce renewable diesel at industrial scale.
Valmet is to convert Helen Ltd’s coal-fired district heat boiler to bubbling fluidized bed (BFB) combustion to enable wood pellet firing at the Salmisaari ‘A’ power