You have achieved very good results in your research project in the field of bioenergy/renewable fuels and are considering the next innovation steps to implement the technology economically? The SET4BIO online seminar was an opportunity to present your technologies and ideas and have them assessed by international experts. The seminar comprised also the occasion to discuss funding instruments, receive examples of successful companies and give suggestions on funding measures that are important from your point of view.
Henrik Brodin from Södra and René Venendaal from BTG shared practical experiences from their companies, which have scaled up innovative technologies successfully over many years. Some of their lessons learnt:
- Knowing your technology well is of key importance but not sufficient. The full value chain, regulations, markets and social factors are of equal importance.
- Consider variable political, regulatory and market conditions in your business plan.
- The importance of the different financing sources (grants, loans, equity) varies with passing Technology Readiness Levels (TRL) and commercialisation stages. Fine tuning is key to success.
- Building trust among public and private financers is crucial and a long term endeavour.
- Be prepared to have a lot of staying power. Your development may take significantly longer than expected.
FNR is a project partner of SET4BIO.
FNR contact person: Jan Schmidt
