(PRWeb UK) February 8, 2011
Ten feasibility studies looking at how industrial biotechnology can be competitively applied to the production of high value chemicals and polymers are set to benefit from government investment totalling £1 million.
The funding follows the conclusion of the first part of a funding competition – Manufacturing High Value Chemicals through Industrial Biotechnology – run by the Technology Strategy Board.
The feasibility studies will be conducted by Biocatalysts Ltd, Biopharma Technology Ltd, Coressence Ltd, Demuris Ltd, Ensus Ltd, Ingenza Ltd, Novacta Biosystems Ltd, SERE-Tech Innovation Ltd, Plaxica Ltd and VHsquared Ltd.
Each company will receive between £40,000 and £120,000 to carry out the studies. The total cost of the ten studies, including contributions from the companies, will be in the region of £1.8 million.
The use of industrial biotechnology offers the potential to develop new, efficient and sustainable methods of obtaining a significant proportion of our energy, chemical and material needs. Agricultural feedstocks, novel biocatalysts and bioreactor technologies have the potential to meet a number of challenges, such as replacing existing petrochemical-derived products like lubricants and plastics or creating active pharmaceutical ingredients through novel bio-transformations.
In April the Technology Strategy Board will announce the results of the second part of its Manufacturing High Value Chemicals through Industrial Biotechnology funding competition, which will see up to £1.5 million invested in a number of collaborative research and development projects.