£12m Funding to Further Green Economy in Wales

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

The new £12 million was announced in December by Welsh Government Finance and Government Business Minister Jane Hutt during an event at the Liberty Stadium, Swansea to mark the achievements of the 2014-2020 European programmes in Wales.

Backed by £8 million 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.

The Finance Minister said: “Today’s £8 million 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, where scientists specialise in bio-refining processes.

The universities are working with small and medium sized enterprises, to develop renewable materials, fuels and chemicals as well as modified and new environmental and economically sustainable processes.

Biorefining is the sustainable processing of biomass into a wide range of bio-based products, chemicals and materials, and bioenergy - biofuels, power and/or heat.