NPT joins Bio – based Industries Consortium

Nova Panagaea Technologies has today joined the group of 69 established industrials, clusters and SMEs that currently make up the Bio – based Industries Consortium (BIC).

BICLOGO

http://www.bbi-europe.eu

BIC has a mandate to unite the skills, technologies and resources within the EU to drive down Europe’s dependence on fossil resources – its 2030 targets are:

To replace at least 30% of oil based chemicals and materials with bio-based and biodegradable ones.

Meet 25% of Europe’s transport energy needs with advanced biofuels.

NPT’s patented fractionation process is expected to offer a perfect fit with BIC’s stated aim of – developing value added product streams from under utilised renewable agricultural and forestry resources (i.e. non-food waste).

The launch of Bio-based Industries’ Joint Undertaking – a new €3.7 billion public-private partnership between the EU and the Bio-based Industries Consortium – will support Research and Innovation and offers NPT the opportunity to partner with larger corporates, academic and research institutions in projects that will assist the deployment of NPT’s novel technology.

Co-founder John Nicholas said “Ever since Peter North and myself began this project we have been driven by a vision of producing a large scale, carbon efficient refinery technology that would replace crude oil with a renewable feedstock and I’m sure we’ve now found the perfect framework in which to make the leap forward”.

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