During the opening plenary lunch at BIO’s World Congress on Industrial Biotechnology, Jim Greenwood, President and CEO of BIO, laid out a comprehensive state of the industry to a packed room of entrepreneurs, scientists, investors and business leaders from more than 35 countries.
In his remarks, Greenwood talked about the important strides the industry has made.
“Cellulosic and advanced biofuel companies are at a pivotal point in commercial development,” Greenwood said. “In addition, we are seeing important developments at renewable chemical and biopolymer companies as new processes are being commercialized and products are being produced at competitive prices. And new technologies for food ingredients, cosmetics, pharma intermediates, fragrances and flavorings are emerging. And consumer demand for products is at the cusp of a tremendous growth curve.”
Greenwood emphasized that “around the world, we’re seeing significant job creation and sustainable economic growth as the biobased economy expands.” But, in order to build on that, Greenwood said, “we need a stable, predictable long-term policy environment that supports R&D, innovation, commercialization and long-term investment.”
To help make that happen, BIO helped launch Fuels America, a coalition committed to protecting America’s Renewable Fuel Standard and promoting the benefits of all types of renewable fuel already growing in America.
Greenwood concluded by noting that, “a decade ago World Congress was all about the promise of industrial biotechnology, but today it’s about the reality. It’s about raising capital and commercialization and a growing thriving marketplace for our bioproducts.”