£12m boost for green economy

A multi-milion pound investment into Wales’ green economy has been announced.

The award-winning Beacon green technology operation has secured £12m funding via the Welsh Government to continue developing the green economy in Wales over the next four years.

The investment, announced by Welsh Government Finance and Government Business Minister Jane Hutt, includes £8m of EU funds.

The Beacon project will see scientists from Aberystwyth, Bangor and Swansea Universities working with industry to develop renewable materials, fuels and chemicals.

Ms Hutt said: “The £8m EU investment in the Beacon project is excellent news which will allow businesses in Wales to benefit from advanced scientific research to develop new products, create jobs and grow Wales’ low-carbon economy.”

Beacon is a Welsh Government EU-funded collaboration led by Aberystwyth University with Bangor and Swansea Universities.

The universities work with small and mediumsized enterprises, to develop renewable materials, fuels and chemicals.

Professor Mike Gooding, director of the Institute of Biological, Environmental and Rural Sciences (Ibers) in Aberystwyth, said: “The research we do in biorefining is developing sophisticated processes to turn locally grown crops into valuable chemicals and commercial products, ranging from fuels to cosmetics, pharmaceuticals, textiles, food and health products.

“Bio-refining means that full use is made of crops, whilst cutting back on emissions of greenhouse gases.”