Welsh Government
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EU funds supporting growth in green economy, says Finance Minister

“EU Funds are helping to support the low carbon economy and driving sustainable development,” Finance Minister Jane Hutt said yesterday as she met businesses pioneering new ‘green’ products and services as part of an EU-backed project.

At a business breakfast held during UK Climate Week 3-9 March and BioWales 2014, the £20m EU-backed BEACON project has been highlighting the work of companies and Universities in helping to establish Wales as a Biorefining Centre of Excellence. The aim is to reduce reliance on fossil fuels by developing new, sustainable products and services from plants using a process known as biorefining.

During the breakfast meeting the Minister launched a publication, ‘Progress through Partnership’, which highlights some of the innovative collaborations underway including, developing mushroom extract as a food supplement, using the properties from daffodils to treat Alzheimer’s and the identification of plant sugars for use in healthy living products.

Finance Minister Jane Hutt said:

"Sustainable development is at the heart of Welsh Government. This is another example of how Wales benefits from vital EU funds which are helping to drive innovation in the low carbon economy, creating opportunities for sustainable growth and jobs in our region, and making a significant contribution to combating climate change."

During the event, delegates also heard from Jonathan Hughes of Pennotec who has been involved in one such cutting-edge collaboration, fermenting grass sugars – a biorefining process - to help extract valuable components from waste crab shells that would usually go to landfill. These high value components can then be used for industrial and medical products.

Jonathan said:

"Using grass-based biorefining process, we can provide a sustainable alternative to the traditional chemical extraction processes currently used abroad. It also opens up the possibility of establishing smaller, multi-product biorefineries in rural communities all around the UK and beyond.

"Our collaboration with BEACON is enabling us to successfully explore biorefining and attract finance and commercial interest to further develop this technology."

BEACON Deputy Director Rob Elias said:  

"The BEACON Project is an excellent example of how companies can tap into the research and innovation expertise through Aberystwyth, Bangor and Swansea Universities.  We can offer a service to help develop their products and fast track their technologies. Working with BEACON brings real advantages to companies developing green technologies in Wales."

Other speakers at the breakfast event held in Cardiff Bay were Sir Roger Jones (Pro-Chancellor and Chair of Swansea University Council) and Kevin Stephens, Director of Agroceutical Products.
BEACON is led by Aberystwyth University, in collaboration with Bangor and Swansea Universities.

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