Marine biotechnology is the development of new products and services based on marine resources. These include a sustainable supply of food, new drugs and heath treatments, more sustainable industrial materials and biofuels.
"Marine biotechnology not only creates jobs and wealth, it can also contribute to the development of greener, smarter economies," said Lars Horn of the Research Council of Norway and chairman of the marine board. "Japan, China and the U.S.A. are already investing heavily in marine biotechnology. If we fail to act, Europe will lose out."
Biofuels, in particular, could be a timely recipient of biotechnological advances. Marine biotechnology could provide novel biocatalysts for second generation biofuels or improve the cultivation of algae and microalgae for algae-based biofuels.
The development of microalgae biofuels could not just have an economic impact but could also help Europe to meet its greenhouse gas emissions by 20 percent, the report said.
Current world production of microalgae is around 3 million kilograms of dried biomass, valued at about 1.23 billion euros.
More research and development into cultivation methods as well as optimization of harvesting and production methods are needed to make microalgae biofuel economically sustainable.
The board is pushing for four courses of action for Europe to reach its full potential in the marine biotech sector: development of new research strategies and programs for marine biotech aligned across national, regional and pan-European levels; strengthening collaborations between academic research and industry; securing fair and equitable access to marine genetic resources; and creating a stronger identity and communication to raise awareness of European marine biotechnology research.
The board is part of the European Science Foundation, an independent, nongovernmental organization that promotes collaboration in scientific research as well as funding of research and science policy across Europe.
source: APEC-VC Korea
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