The European Union has launched Bio-Qed, a new research project coordinated by Italy's Novamont SpA which will help develop bio-based chemicals from renewable sources.
The project involves 10 partners from Italy, Germany, France, the Netherlands, Croatia and Spain, and will last for four years. Bio-Qed is intended to help the European economic system find broader and more sustainable forms of energy.
"This project is of strategic importance for Novamont research, which has accrued significant experience in integrating chemical and biotechnical processes for the transformation of biomass by developing proprietary technologies, and will allow us to further consolidate our relations with the leading players in bioeconomy at an international level," said Luigi Capuzzi, Research Director at Novamont, based in Novara, Italy.
The project, Novamont says, will help to combine the requirements of agriculture and food safety with the sustainable use of renewable sources for industrial purposes.
Novamont, which develops and produces bioplastics and biochemicals with a focus on R&D, currently employs 323 people and saw profit of 135 million euros ($185.4 million) in 2012.