One of the largest research grants in the Scandinavian region will start researching into biofuels and other alternatives to petroleum-based materials.
The Danish Novo Nordisk Foundation is providing Sweden's KTH Royal Institute of Technology, along with the Danish Institute of Technology and Sweden's Chalmers University of Technology, with 94 million euros ($125.6 million) for a new joint research center for biotechnology focusing on bioenergy and renewable resources.
The Novo Nordisk Foundation's Center for Biosustainability will be headquartered at the Technical University of Denmark with satellite centers at K.T.H. and Chalmers.
"We will be conducting research on making the process of producing biofuels such as ethanol and butanol more efficient so that they will be more easily accepted as an alternative to petroleum-based fuels," said Bjor Renberg, a researcher at K.T.H.
Mr. Renberg, site manager for the K.T.H. unit, said his team will also identify ways to produce chemicals in a sustainable manner by using microorganisms such as baker's yeast and bacteria in lieu of petroleum-based raw materials.
Both the research into biofuels and into replacements for petroleum materials will be important in reducing dependency on fossil fuels.
"From a global perspective, the new research center is a key strategic endeavor that will benefit society both economically and environmentally," said Lars Pallesen, president of Technical University of Denmark.
The center's ultimate goal would be to enable the production of essential materials using sustainable, biotechnological processes.
The Novo Nordisk Foundation is a Danish foundation which supports research activities both conducted by companies in the Novo Group and beyond.
source: APEC-VC Korea
