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‘£1bn Global Opportunity’
By Mr Ethanol | May 23, 2007
Evening Gazette:
The biofuels industry could be worth £1bn to the North-east economy by 2027 according to a new strategy.
The North East Biofuels strategy, commissioned by regional development agency One NorthEast, highlights the opportunity for the region to become one of only a few major hubs for the industry in the UK and Europe capable of supplying the global market and attracting major international investment.
The report identifies potential opportunities including the creation of a green technology investment fund to encourage businesses to set up in the region, the importance of a strong biofuels group to represent the industry and strategic investment in research and development.
Stan Higgins, chief executive of the Wilton-based North East Process Industry Cluster, said: “The existing infrastructure of locations such as Teesside with its port, pipelines, storage facilities, transport and other utilities is clearly an advantage to projects.
“Several companies based in the region are already manufacturing bio-diesel and there is a new breed of companies setting up to manufacture Bio-ethanol that are helping the region become a world leading centre for the development of these new fuels.”
Pat Ritchie, assistant chief executive strategy at One NorthEast said: “The combination of the region’s strong rural sector and world class chemical and petrochemical industries gives us a significant competitive advantage and means we can produce the entire biofuels process from seed to tank within the North-east.”
There is already £200m of public and private investment either in the region or in the pipeline. One NorthEast is supporting a number of green fuel initiatives ranging from involvement with the construction of the largest biodiesel plant in Europe at Seal Sands to involvement in One Green Route, an independent green garage network selling biodiesel.
North East Biofuels is a consortium of petrochemical businesses, farmers, agricultural suppliers and One NorthEast.
Topics: Biofuel, BizOp, Market, Money, News |
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