Sustainable business from biogenic carbon
Mitigation of climate change will require major changes in the operation of the energy use in the energy system and industrial production. World-wide change of ecosystem is going on which can be seen as a major investment on renewable energy especially solar and wind energy. Also new business opportunities are seen globally in bioeconomy based on various biogenic sources.
Carbon capture and utilization (CCU) is referred to as a family of
technology concepts utilizing captured CO2 as a feedstock for other
processes, to produce materials, transportation fuels or to be utilized as a
process medium e.g. carbon chemistry products, liquid biofuels, other products
or enhanced oil or gas recovery.
As biomass based raw materials could have a remarkable role in future energy ecosystem VTT started a two-year project on October 2016 to study the value chains of bio-CO2 utilisation (bio-CCU) in Finland.
Possible business areas for biobased CO2
The main aim of the project is to find out most feasible utilization pathways for biobased CO2 as a raw material in Finnish biomass driven industry sectors and to identify the best business candidates for near- to medium-term deployment in Finland. The main focus is on value chains for synthetic fuels, biogas upgrading, industrial chemicals and other valuable products utilising bio-CO2.
Finland has traditionally wide and comprehensive experience to utilise biomaterials for pulp and paper industry and in energy production. Creation of sustainable and valuable products from bio-CO2 would give additional boost and new business opportunities for Finnish industry.
The main financing for the project is from the European Regional Development Fund (ERDF).