Financial support from the RRP and the EU: recuperarportugal.gov.pt

Plan | Recovery and Resilience Plan (RRP)

Structuring Dimension | RE. Resilience

Support under | C05. Business Capitalization and Innovation

Investment Designation | E-C05-i01.01 – Mobilizing Agendas/Alliances for Business Innovation

Consortium Leader | Inovamar, S.A.

Agenda Description | Advocating a new sustainable, innovative, and decarbonizing paradigm that finds solutions to the global challenge of terrestrial resource scarcity in the sea, the Blue Bioeconomy Pact brings together various national industries to develop new products, processes, and services derived from incorporating blue bioeconomy assets into new or existing value chains. This will have a positive impact on the environment, consumers’ lives, and national exports. The investment will target seven sectors, focusing on the application of biomaterials, a new paradigm for bivalve production, marine-based textiles, sustainability in the food sector, increased algae production, circular food solutions, bioinformatics for the fisheries sector, and three cross-cutting initiatives to accelerate the development and commercialization of sector products and services: the Portuguese Blue Biobanks network, a digital platform for the valorization of marine co-products, and the promotion of growth and internationalization of companies and SMEs.

The planned investment aims to: (i) Propel the development of a cutting-edge industrial economic sector based on the application of marine biore sources to multiple industries; (ii) Serve as a flagship example of the cross-cutting and ecological potential of marine biotechnology solutions; (iii) Position Portugal as a global pioneer in a sector estimated to reach €200 billion globally by 2030; (iv) Materialize the significant growth and innovation opportunities for marine industries (aquaculture, fisheries, canning) and differentiation for traditional Portuguese industries that are currently distant from the sea (textile, cork, fertilizers, human health).

Start Date | 01-10-2021

Completion Date | 31-12-2025

Total Investment | €133,084,957.80

MRR (Recovery and Resilience Mechanism) / Next Generation EU Incentive | €93,838,407.60

Beneficiary Entity | B2E – Blue Bioeconomy CoLAB (B2E CoLAB)

Beneficiary Investment | €623,236.73

Beneficiary Incentive | €623,236.73

Objectives, Activities, and Expected Results |
The project led by B2E CoLAB aims to create a Co-Products Valorization Platform. Part of the Blue Bioeconomy Pact – WP8 – it aims to assist key stakeholders in the blue bioeconomy in identifying new value chains, new sector actors, and the latest valorization technologies, thus defining strategies for utilization and circularity. It is also intended to find takers of these technologies, identify or help create co-product processing companies, or simply find already developed technology that can be freely used to generate value.
The development of the circular bioeconomy has been considered a fundamental strategy for countries to cope with the growing need for raw materials, avoiding overexploitation of natural resources and contributing to environmental preservation and the mitigation of the consequences of climate change.
At the European level, the European Commission adopted an Action Plan for the Circular Economy, which includes measures to reduce waste production and ensure the proper functioning of the EU internal market for high-quality secondary raw materials. This plan includes a set of interrelated initiatives to establish a strategic framework for product sustainability, including circularity in production processes.
In this global context, this project arises to create a platform (collectively open for use) for the valorization of aquaculture co-products, for their management, communication of results, and their impact on the sector, promoting the connection between aquaculture co-product generators and technology suppliers/developers.

Status | Ongoing