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Sat, 20 Dec, 2014 12:09:32 AM FTimes Report, Dec. 20
More than ten eligible applications were submitted by the 4 December, 2014 deadline to the international design competition for a bio-refinery being organised by the Ministry of Employment and the Economy.
The combined value of the applications was about 1.5 billion euros, said a press release of the ministry issued on Friday.
The aim of the competition is to expedite the commercialization of bio-economy innovations and the emergence of new bio-refineries in Finland.
A considerable variety of applicants from different bio-economy sectors are taking part in the competition.
The proposals vary in size from demonstration plants of less than 1 million euro to investments in demanding bio-refineries worth hundreds of millions of euros.
“We were very pleased with the interest shown in the competition. The winners that conform with the purpose of the competition will certainly be found among this group,” said Jussi Manninen, Development Manager at the Ministry of Employment and the Economy.
“In addition to the applicants, discussions were held with several other groups on participating in the competition, but their projects were not yet at the level required by the competition”, noted Jussi Manninen.
"Our unique competition also raised interest abroad, and we received many related enquiries,” the Development Manager added.
Applications received for the competition will now be evaluated by an expert panel, which includes Finnish and international experts on the financial sector and on bio-economy-related research, development and industry.
The winners of the competition will be announced at the end of February 2015. In the selection criteria for the winners, the focus will be on suitability for investment (50%), innovativeness (25%) and impact on the national economy (25%), said the release.
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