Business and energy minister Michael Fallon today met with senior representatives from industrial biotechnology companies like Biome Bioplastics to discuss the huge potential of the UK’s bio-economy.
Leading manufacturers and the Industrial Biotechnology Leadership Forum promoted applications of biotechnology at an exhibition in the Department for Business, Innovation and Skills (BIS).
Mr Fallon, who joined business leaders in calling on the UK’s manufacturing industry to embrace biotechnology, said the UK is leading the way in the field.
“The quality of our academic and research centres in the UK is allowing us to lead the way in industrial biotechnology and find innovative ways to replace traditional manufacturing products and processes with cheaper, greener and often more functional alternatives.
“To reach our full potential we now need to see the entire manufacturing industry embrace biotechnology, and start looking for every opportunity to integrate it into their production processes.
“This showcase demonstrates the diversity and creativity of innovative biotech businesses here in the UK that will help us build on the life sciences industrial strategy and compete in the global race.”
The industrial biotechnology market is projected to grow up to £360bn globally by 2025 with up to a £12bn share in the UK.
Whilst much potential is yet to be realised, manufacturers are already adopting the use of biological substances, systems and processes to produce materials, chemicals and energy.
Paul Mines, CEO of Biome Bioplastics said industrial biotechnology has the potential to change the world of plastics.
He continued: “Our UK based research and development activities in this field are fundamental to our ambition to develop high performance bioplastics that challenge the dominance of their oil-based counterparts.
“Leading academic institutions, strong chemical and biochemical skills and consistent government support make the UK an ideal location for developing, manufacturing and commercialising these advanced materials.”
The exhibition opened yesterday and will run until 16th August in the BIS reception area and is open to the public.