Interesting Financing.
85% of the 6 million Euro budget of the project is supported by the European Union and 15% by the Ministry of Industry and Technology under the Competitive Sectors Programme."
About Biorefinery:
A
biorefinery is a refinery in which various intermediate and end products (e.g. chemicals , materials , bioenergy ) are sustainably produced from biomass while utilizing all raw material components as fully as possible . Food and feed can also be produced as by-products.
Except for the raw materials, the principle of the biorefinery has many similarities with that of the petroleum refinery , in which the complex raw material petroleum is separated into individual fractions or components . In some cases, these are converted into other, more easily separable compounds by chemical processes
An important goal of the “biorefinery” concept is to replace crude oil as an important raw material in the chemical industry in the long term and to move towards a bio-based industry.
The United States Department of Energy identified industrial biorefineries as the most promising path to this goal.
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