• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 15 minutes WTI @ 67.50, charts show $62.50 next
  • 14 hours The EU Loses The Principles On Which It Was Built
  • 6 hours Starvation, horror in Venezuela
  • 9 hours Why hydrogen economics does not work
  • 7 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
  • 6 hours Tesla Faces 3 Lawsuits Over “Funding Secured” Tweet
  • 2 hours Mike Shellman's musings on "Cartoon of the Week"
  • 19 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 1 day Chinese EV Startup Nio Files for $1.8 billion IPO
  • 7 hours Saudi Fund Wants to Take Tesla Private?
  • 23 hours Crude Price going to $62.50
  • 2 hours California Solar Mandate Based on False Facts
  • 2 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 18 hours Saudi Arabia Cuts Diplomatic Ties with Canada
Oil Prices Jump As Saudis Cap Oil Supply

Oil Prices Jump As Saudis Cap Oil Supply

Oil prices rose on Tuesday…

UK Industrial Biotech Sector could be Worth £12 Billion by 2025

A new report written by Jonathon Porritt, one of the UK’s leading environmentalists, states that the industrial biotech (IB) industry in the UK could be worth £12 billion by 2025 due to potential breakthroughs in the technology.

The report estimates that the global market will grow to anything between £150 billion and £360 billion by 2025, including industrial biotech in industry, agriculture, forestry, healthcare, and manufacturing.

Porritt states that the UK has great potential in the IB industry however it must first establish a financial framework which looks beyond the focus of biofuels. The current system is starving any small and medium enterprises (SMEs) of capital, and therefore restricting the development of the sector; venture capital funding in the market must be increased.

Related Article: Marginal Lands: Unfit for Food Crops, but Perfect for Biofuel Plants

Porrit explained that “when people talk about the Green Economy, they usually limit themselves to energy efficiency, renewable energy and waste management. But industrial biotechnology could have an equally dramatic impact, if it's done well.

IB is a young industry and there are still barriers to meeting its full potential, but a big part of overcoming those barriers is to ensure that IB, in all its many manifestations, meets the highest possible sustainability standards.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News