FTP played a key advisory role in establishing the Bio-Based Industries Joint Undertaking (BBI JU), a Public-Private Partnership (PPP) between the EU and its partner representing industry, Bio-based Industries Consortium (BIC), designed to support the coherent development of Europe’s biobased economy. After the successful completion and positive results of the EU-funded research project Star-COLIBRI, coordinated by FTP, the forest-based sector ETP was invited by the European Commission to discuss a potential PPP on biobased industries. Since the establishment of the BBI JU, FTP has taken an active role in the setting up of the PPP on behalf of its members, providing them with advice and representation on strategic aspects.
The Joint Undertaking features a total budget of € 3.7 billion, to be invested in biobased innovations during the period 2014-2020. This funding is dedicated to projects that aim to bridge key sectors, create new value chains, produce a range of innovative biobased products, and turn biological residues and waste into greener everyday products through innovative technologies and biorefineries. The EU’s contribution to the BBI JU is through Horizon 2020 and totals € 975 million, while the private partners are contributing € 2.7 billion, made through the BIC.