Four trends to watch in post COVID-19 bio-economy
Last year was remarkable in the U.S. bio-economy sector. Long-time industry advocates, who had already started to despair, were amazed by the progress they witnessed. Investment flowed, and bio-based fuels and products decisively broke into the mainstream making hefty profits. The gathering of political tailwind was, also, plain to see.
“The one constant has been the idea of bioenergy as a great insurance policy for a reliance on foreign oil imports and boosting agriculture,” says Douglas Faulkner, one of the leading influencers in the U.S. bio-economy discussion.
“That focus was subsumed by environmental pressures, primarily the need to reduce greenhouse gas emissions,” he recalls the reasons for the breakthrough.
While bio-economy is not going to go anywhere, a market and societal turmoil caused by the COVID-19 pandemic will shake its fundaments and put its staying power into a test. The question is, how big an effect will falling oil prices and poor market visibility have on biofuels and bio-based products.
Nordic West has been closely involved in the developments through the “Year of the Tree” program, which helps Nordic companies navigate the American market, access its ecosystems and raise their profile as solution-providers.
As part of the program, NoW USA C.E.O. Kristiina Helenius will on Wednesday virtually sit down with Douglas Faulkner and Gerard Ostheimer to hear their take on the future of the U.S. bio-economy and answer your questions. The webinar session focuses on the four trends that are likely to gain momentum due to the current affairs.
“The longer-term drivers of growth for the bioeconomy haven’t changed,” Douglas Faulkner says.
“It is time to take advantage of that, particularly in America, and lay the groundwork for further success,’’ he says.
Dr. Ostheimer agrees.
“U.S. consumers and companies will be looking to work with companies at the forefront of green business,” he says.
“Nordic companies that are selling green products and greening their supply chain will continue to be more competitive in the United States. In other words, opportunities will be better for those that use green fuels, chemicals and materials regardless of the current market turmoil.”
More about the four emerging trends in the webinar.
For speaker bios and to register for the webinar, go here.