About the Bio-based economy

In the 18th and 19th Centuries, European society was transformed by the Industrial Revolution and the steam engine. This was the Age of Engineering. In the 20th Century, the developed world reaped the benefits of chemistry, which provided the materials, productive agriculture and medicines which make our lives so comfortable and safe. The whole world is now in transition from the Age of Chemistry to the Age of Biotechnology.

Biotechnology will drive expansion of the global economy, increasing wealth while reducing Humankind's environmental footprint. We have the potential to be world leaders in innovation; the most dynamic region in the developing bio-based economy. But we will not achieve this without effort.

This website is for everyone interested in the potential of biotechnology to transform our economy.

What is the Bio-based Economy?

The bio-based economy is a term which encapsulates our vision of a future society no longer wholly dependent on fossil fuels for energy and industrial raw materials.

Currently, most of our power comes from burning coal, oil or gas: once extracted and used, we have to find and exploit new resources. We don't know when they will begin to run out, but as demand increases rising prices will focus attention on alternatives. Bio-fuels (like ethanol and diesel) made directly from agricultural crops, will become increasingly competitive with conventional fuels, and provide at minimum a sustainable fuel supply until hydrogen generated using non-fossil fuels becomes a viable alternative.

But a lot of fossil fuels are actually used as industrial feedstocks, to produce chemicals, plastics etc. Most of this use could, over time, be replaced by biomass - starch, straw etc - fermented and converted to a vast range of materials using enzymes or micro-organisms developed specially for the task.

Why is the Bio-based Economy important?

Recent economic growth has been driven increasingly by the rapid development of information technology and other knowledge-based sectors. This has contributed to a steady decrease in the energy intensiveness of our economy (the amount of energy needed for a given economic output). Nevertheless, the world's population continues to increase, major countries in the developing world (China and India in particular) are enjoying unprecedented growth, and demand for travel is blossoming as people become more prosperous. On a global basis, we are consuming the Earth's resources at an accelerating rate, and many of these are not renewable over normal human timescales.

Continued development and application of biotechnology will reduce our dependence on fossil fuels. Oil, gas and coal will be replaced by biomass. Chemical catalysts will increasingly give way to enzymes and micro-organisms. Our continued prosperity will be assured in a way which is truly sustainable.