European Commission and Industry Investing $5 Billion in Biomass
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The European Commission and companies including Coca-Cola Co. are investing as much as 3.7 billion euros ($5 billion) to foster the growth of a regional bio-energy industry.
The commission is providing 975 million euros from 2014 to 2024, with the remaining 2.7 billion euros coming from the Bio-Based Industries Consortium, according to an e-mailed statement from BBI and the EC. The public-private partnership aims to spur investments and create a competitive market.