Bio-CCU - Creating sustainable value of the bio-based CO2
Decarbonization in Europe and Finland aim at avoiding further accumulation of CO2 in the atmosphere and its reduction. For the energy sector this means primarily to replace fossil fuels and/or to capture the CO2 generated. Sustainable and circular economy solutions, especially in the bioeconomy, can play a key role in providing carbon feedstocks without increasing the carbon footprint. Bio-based CO2 and its use for these purposes can potentially have a net negative carbon impact. Thus, in combination with voluntary emission markets, bio-based carbon dioxide can create interesting opportunities for value creation.Finland has a large number of forest based industry and related industrial ecosystems, which can utilize widely the waste to value circular solutions. Bio-based CO2 is seen as a remarkable tool for value creation in the future. The Bio-CCU project focuses on R&D of value chains, value creation and technological solutions that support climate resilience in the Finnish operating environment. This project also aims to identify the barriers and opportunities of regulation for sustainable Bio-CCU value chains.Bio-CCU is a co-innovation project consisting of eight parallel projects. A consortium of three companies (Fortum, Sumitomo, Chemitec) and five research organizations (University of Oulu, Tampere University, University of Helsinki, LUT University and Natural Resources Institute Finland) are working together to research and develop solutions for CO2 capture, green hydrogen production, CO2 utilization, and to identify the best business models for the value chains. The goal is to create up-to-date and forward-looking information and disseminate it to larger ecosystems. The project is also supported by five other companies, Oulun Energia, StoraEnso Oulu, Kiertokaari, P2X Solutions and Global Boiler Works. The Bio-CCU project gives a head start to Finnish companies for international bio-based CO2 market.