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Biotechnology key to developing sustainable industries says international panel
Date:6/17/2008

SAN DIEGO, CA (June 18, 2008): Despite recent controversies over crop-based biofuels, biotechnology offers some of the best opportunities to create a more sustainable world, with applications as diverse as new sources of energy, new materials for industrial and consumer uses, and high quality agricultural products with better production economics. But, for new products and technologies to be truly sustainable, they must be not only good for society and the environment, but have real economic value as well, according to an international panel of industry, governmental, and venture capital representatives at the 2008 BIO International Convention in San Diego.

"Excitement about biofuels and other new energy sources has served to bring growing interest to the concept of creating industries that are more sustainable over the long term and respond to environmental concerns," said Michael Pavia, Entrepreneur-in-Residence at venture capital firm, Oxford Biosciences (http://www.oxbio.com ). "Investors are increasingly recognizing the much larger business opportunities and enormous synergies that lie in applying biotechnology to other areas in the service of sustainability."

"For example, New Zealand has a long history of life science research applied to agriculture that is now being leveraged across a wide range of applications not only in food production, but far beyond," said Chris Boalch, Ph.D., Director, Investment New Zealand (http://www.investmentnz.govt.nz/section/14246.aspx ). "These include the development of new biomaterials to replace older petroleum-based products and more economic, environmentally sound agricultural methods, as well as technologies and products that deliver prospects for better health, in more sustainable, integrated ways." He noted that as part of the country's goal of becoming the first truly sustainable nation, New Zealan
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Contact: Joan Kureczka
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Source:Eurekalert

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