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The funding has been secured by Aberystwyth University’s Institute of Biological, Environmental and Rural Sciences (IBERS) through the EU-backed BEACON project which is helping forge collaborations with businesses to develop everyday products from biomass such as grass rather than using oil. The project is delivered in partnership with Bangor and Swansea Universities.

Now IBERS will drive forward the BioHorizons and ADMIT Bio-SuccInnovate projects under the EU’s Climate Knowledge and Innovation Communities (KIC) programme which brings together Europe’s leading innovators to address climate change.

With the Welsh share of the investment totalling over £1m, the two projects will be delivered alongside academic and commercial partners from France, Germany, Hungary, Italy, Netherlands, Spain, Switzerland and the UK.

Minister for Finance Jane Hutt said:

"I am pleased to see European funds being invested to establish closer links between Welsh academia and business. Such collaboration has enabled BEACON to benefit from other European funding streams - the benefits of which will impact both in our own country and internationally. I am delighted to see Welsh expertise at the forefront of research and innovation which will help build our knowledge economy, and in turn create jobs and growth."

Through BioHorizons partners will undertake a survey to provide in-sight into regional differences, market failures, business opportunities and barriers to the developing the bio-economy across Europe.

The increasing popularity for renewable chemicals, such as Succinic acid, to be produced through sustainable production processes will be the driving force for the ADMIT Bio-SuccInnovate project. In particular, the project will look at developing innovative processes for the production of  succinic acid from feedstocks such as straw and Miscanthus.

BEACON Business Development Manager, Dr Mike Morris, said:

"Current global production of succinic acid is in excess of 25,000 tonnes per year. This is expected to increase by 10 percent per year, with a value of $500m by 2016. It can be used in markets including pharmaceuticals, chemicals, food and agricultural industries. Using innovative methods of producing this valuable compound from sustainable sources gives Wales a chance to be at the forefront of the developing bio-economy."

The news comes as the BEACON project holds its first inaugural conference in Llandudno today. More than 150 delegates are expected to attend the event at Venue Cymru which will include businesses, stakeholders and key figures in industrial biotechnology from Wales and Europe. Speakers include Dr Zsolt Gemesi (Climate-KIC); Dr Adrian Higson (NNFCC) and Dr David Randall (Chemoxy International Ltd).

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