00:00:00
00:00:06
OK, greetings.
00:00:07
My name is Dr. Richard
Venditti, and today I'm
00:00:10
going to talk to you
about the bio-economy.
00:00:13
00:00:17
The learning objective
for our lecture
00:00:19
is to try to understand what
we mean by a bio-economy.
00:00:24
This is going to be a
bio-based circular economy,
00:00:28
and hopefully it will have
environmental and social
00:00:31
benefits.
00:00:32
There are also some challenges
that we'll talk about.
00:00:35
So I have a picture here
of a plastic bottle.
00:00:39
Truth is is that that
could come from petroleum
00:00:41
or it could come from bio-based
biomass renewable material.
00:00:44
And what we're
trying to do is kind
00:00:46
of say, what are the
advantages and disadvantages
00:00:49
of this bio-economy.
00:00:52
OK, so what I'd like
to talk about first
00:00:55
is non-renewable materials
versus renewable materials.
00:00:58
And I've got some examples here
of non-renewable resources.
00:01:04
So we know that petroleum
and coal actually
00:01:08
formed in the earth
over millions of years,
00:01:11
and it's not being replaced
even though we're consuming it
00:01:14
at a very high rate.
00:01:16
So this would be considered
a non-renewable material.
00:01:19
00:01:23
Of particular interest are
non-renewable carbon resources.
00:01:28
And the reason why
these are so important
00:01:31
is because we use them for
electricity and for products.
00:01:35
And when they're combusted
and we utilize them,
00:01:37
a lot of gases, global
warming potential gases
00:01:41
go into the environment.
00:01:42
And these can have
long-lasting effects.
00:01:45
00:01:48
The other thing is we make
chemicals and materials
00:01:51
out of these resources.
00:01:53
And you know, general
plastics like polystyrene
00:01:57
or polyethylene are
things that we can use
00:02:01
to our advantage in society.
00:02:03
But at end of life,
what we find out
00:02:05
is that they're
not bio-compatible,
00:02:07
they're not
environmentally friendly.
00:02:09
And you can see examples of
terrible amounts of litter
00:02:13
all across the globe
and in our oceans.
00:02:16
They're going into
our food chains
00:02:18
and they're affecting us.
00:02:21
Now, let's contrast that
with renewable materials.
00:02:26
Renewable materials
actually come
00:02:29
from raw materials
that are replaced
00:02:32
at the least the amounts
that they are consumed.
00:02:35
And we consider that
sustainable, OK?
00:02:38
So my example down
at the bottom here
00:02:40
is, we're going to
make paper boxes.
00:02:43
They serve as a real
strong need in society.
00:02:47
Well, we've got to
harvest the forests.
00:02:50
And if we plant trees
at the same rate
00:02:54
that we're harvesting
the forests,
00:02:56
then the total stock of
our forests' resources
00:02:59
will be maintained
constant over time.
00:03:03
In other words,
future generations
00:03:04
will be able to have the
same amount of tree resources
00:03:07
that we have right now.
00:03:09
That's renewable,
that's sustainable.
00:03:12
That's really what is at
the heart of a bio-economy.
00:03:15
00:03:17
I talked about forests, but also
agriculture can be sustainable.
00:03:23
Even grasses that we can
use for commercial purposes
00:03:26
can also be sustainable.
00:03:28
All right, now let's
talk about society
00:03:31
and some of the products
we've used over the years.
00:03:36
One of the first renewable
products that we used
00:03:40
was actually just
wood from trees.
00:03:43
Early man used to
cut down the wood,
00:03:45
pile it up into a
fire pit, and then use
00:03:50
it to cook and to keep warm.
00:03:53
That happened 400,000 years ago.
00:03:55
And a great example
of a renewable
00:03:57
resource that we're
still using today almost
00:03:59
in a similar fashion.
00:04:02
About 40,000 years
ago, people would
00:04:09
take plant oils and
animal fats, collect them
00:04:12
and store them, and
then kind of use
00:04:14
this bio product to do
heating and cooking and things
00:04:19
like that.
00:04:21
There's evidence that there
were cotton filaments spun
00:04:24
12,000 years ago.
00:04:25
So here's another example of
a renewable plant, cotton,
00:04:30
that was produced,
harvested, and then spun
00:04:33
for clothing for people to
meet one of society's needs.
00:04:38
As you can see, all these
things are renewable.
00:04:42
All right, ethanol production.
00:04:44
Back in the Egyptian
days, they learned
00:04:49
how to ferment organic
material and produce ethanol
00:04:53
that had some
benefits in the fact
00:04:55
that it wouldn't spoil in
the same way as other foods
00:04:58
and drinks.
00:04:59
00:05:02
OK, so in the 1700s,
people started
00:05:06
to use coal and that use
that started to rival
00:05:10
the use of wood for energy.
00:05:12
OK?
00:05:13
So now, coal is
the first example
00:05:15
of a widespread material
that's non-renewable
00:05:18
that society is using.
00:05:20
And then as the Industrial
Revolution occurred
00:05:23
and steam engines and
other types of equipment
00:05:27
that could use this
coal effectively really
00:05:30
accelerated its use.
00:05:34
So in the 1800s, we
were still using wood
00:05:38
as the main raw
material for a lot
00:05:41
of the chemicals that we used
and the materials that we
00:05:44
produced.
00:05:45
However, coal was actually about
equal with wood with respect
00:05:51
to energy.
00:05:53
Finally, we can
look in the 1900s.
00:05:56
This is where oil
refining really took off.
00:06:00
And once we were able
to refine the oil
00:06:02
in a real effective way, we
could start to make fuels out
00:06:06
of it, chemicals, plastics,
all of these things
00:06:11
that met society's needs.
00:06:13
And in the 1900s, our amount
of the renewable resources
00:06:19
was a smaller fraction
of the total materials
00:06:21
that we were using.
00:06:23
So in the 1900s,
it's very important
00:06:25
to understand that the
inexpensive nature and then
00:06:29
the nice products and
the concentrated energy
00:06:32
and all the unique properties of
these non-renewable fossil fuel
00:06:35
type materials started to
really take over and dominate.
00:06:40
OK, what I'd like to do next is
talk about a wasteful economy
00:06:44
versus an effective economy.
00:06:48
First example, wasteful economy.
00:06:50
In a wasteful economy, we take
fossil fuels and fossil carbon,
00:06:54
we refine them, make
products that we need.
00:06:58
Use them once and then either
send them to a landfill
00:07:01
or they find themselves as
litter in the environment.
00:07:05
Along the way of
manufacturing these materials,
00:07:08
we get byproducts and wastes.
00:07:10
And those also find their
way to the environment.
00:07:14
This is very wasteful.
00:07:16
All right, now
what I'd like to do
00:07:18
is contrast that system with
a system based on bioproducts.
00:07:23
Now let's take a look.
00:07:24
In this system right
here, let's just
00:07:26
say we are going to make
some bioproducts to meet
00:07:31
the needs of society.
00:07:34
So there are our
bioproducts, and they come
00:07:36
from the factories, obviously.
00:07:38
So we're making our bioproducts.
00:07:41
Now, the bioproducts,
the raw material for them
00:07:45
in the factories is the biomass.
00:07:47
So we've got trees,
agriculture, and animals.
00:07:52
Now, what happens is, when we
manufacture the bioproducts,
00:07:56
we emit some CO2, some carbon
dioxide, into the atmosphere.
00:08:02
And that's kind of
interesting because what does
00:08:05
the biomass need to be made?
00:08:09
Well, the inputs for the biomass
are going to be the sunlight,
00:08:13
and it's going to
actually be just the CO2.
00:08:18
And then we're also
going to need some water,
00:08:23
and we're going to need
input from the soil.
00:08:27
And so all these
things go in there.
00:08:29
But what's very interesting
is this circular part
00:08:32
of my diagram.
00:08:34
The carbon dioxide
that's emitted
00:08:36
for making those bioproducts
can be reabsorbed in the plant
00:08:40
material that we are
considering renewable
00:08:44
as our starting source
for making the bioproduct.
00:08:47
So this is the power
of the bio-economy.
00:08:50
00:08:53
All right, so now let's
just kind of review
00:08:56
that kind of concept.
00:08:58
What we're going to do is
we're going to make biomass.
00:09:01
So we're going to have
agricultural systems, forestry
00:09:04
systems, and water systems.
00:09:06
We're going to add sun, water,
carbon dioxide, and nutrients
00:09:10
from the soil.
00:09:11
And then we'll harvest
the biomass off that
00:09:14
and get our biomass feedstock.
00:09:16
Then we will do refining.
00:09:18
Just like oil is refined
into multiple products,
00:09:20
we will refine our biomass
into multiple products.
00:09:23
For instance, electricity,
chemicals, paper, other things.
00:09:27
So we'll get all our
bio-products for society.
00:09:31
Then what we will have is
we'll use that material.
00:09:34
Maybe there'll be some
byproducts and some waste.
00:09:37
We'll try to recycle some
back, but for the most part,
00:09:40
these materials will
be bio-compatible.
00:09:42
They'll be compatible
with the environment.
00:09:45
And what will
happen is, they will
00:09:47
be able to be incorporated
into the ecosystems, either
00:09:53
the air, the water,
or the soil, and then
00:09:55
go right back into our
biomass preparation.
00:09:59
And this circular bio-economy is
renewable and it's sustainable.
00:10:04
So that's why we like it.
00:10:06
All right, so next let's just
talk about some definitions.
00:10:10
I've already mentioned
sustainable materials.
00:10:15
And we're going to say
bio-renewable resources are--
00:10:18
the definition would be organic
materials of recent origin.
00:10:22
So it didn't take a
million years to produce.
00:10:24
It might have taken five
years or 20 or 40 years.
00:10:27
But those are created
from renewable resources
00:10:30
like sunlight, water,
and carbon dioxide.
00:10:31
That's great.
00:10:33
And we're going to say
they're sustainable if they
00:10:35
are regenerated at the same
rate as we consume them.
00:10:39
OK?
00:10:39
And what that means
is that there'll
00:10:41
be a steady state
amount of this resource
00:10:45
for future generations.
00:10:48
Fossil fuels, we've
already gone over those.
00:10:52
They're also from
organic materials,
00:10:54
but the important
difference is is
00:10:55
that they were generated
over millions of years.
00:10:58
And the fact is
is that we're not
00:11:01
going to be around
another million years
00:11:04
here to see them
being regenerated.
00:11:07
We're going to consume them, OK?
00:11:08
So they're not renewed and
they're not sustainable.
00:11:12
OK, now we're going to
talk about bioenergy
00:11:14
and bioproducts.
00:11:15
Bio-energy is the
conversion of any type
00:11:18
of biomass to a stationary
heat or electricity-generating
00:11:23
plants.
00:11:25
So we might produce steam or
we might produce electricity,
00:11:29
but the plant is
just stationary.
00:11:31
Now, bioproducts,
what we'll do is
00:11:33
we'll talk about
bioproducts as any material
00:11:36
from a bio-renewable resource
other than bioenergy.
00:11:40
So that could include chemicals,
fibers, wood, paper, food.
00:11:44
00:11:47
You could even consider
it a liquid fuel,
00:11:49
which is a little bit confusing
because you think, ah, maybe
00:11:52
that's a bioenergy.
00:11:54
But if it's a liquid
fuel that goes
00:11:56
into a non-stationary device
like a car or a bus or train,
00:12:01
we are going to consider
that a bioproduct.
00:12:03
So bio-ethanol that we put
into our cars, or biodiesel,
00:12:07
we would consider
those bioproducts.
00:12:11
So just to kind of
summarize what I just said,
00:12:14
we are going to make
bioenergy and bioproducts.
00:12:17
Bio-energy are things like
steam and electricity produced
00:12:22
in a stationary place.
00:12:24
Bioproducts are materials,
chemicals, and even
00:12:27
fuels that are used in
non-stationary devices.
00:12:31
And of course, we're going to
use renewable biomass sources
00:12:35
and convert those hopefully
in an environmentally friendly
00:12:39
way.
00:12:41
All right, now let's just kind
of talk about the existing US
00:12:43
bioproducts industry.
00:12:45
I mean, most people know already
about food and pharmaceuticals.
00:12:49
Those are products, but what
we're going to talk about
00:12:51
are some of the things
not included in there.
00:12:54
So the US bioproducts
industry is
00:12:57
tracked by the USDA,
the United States
00:13:00
Department of Agriculture.
00:13:02
And they have estimated
that bioproducts in the US
00:13:06
and are about $400
billion in value.
00:13:09
And that equates to people
working in that industry
00:13:13
of about 4.2 million jobs.
00:13:16
That's very, very significant.
00:13:19
And there's lots of different
products that we make.
00:13:23
About 97 product categories,
14,000 different products
00:13:27
recognized by the USDA.
00:13:31
And then I just
show a little bit
00:13:32
of the rankings
on the right here.
00:13:34
North Carolina has actually
about 90,000 direct jobs
00:13:38
related to the
bioproducts industry.
00:13:41
And think about it, that
does not include food,
00:13:44
so that's a big deal.
00:13:45
And then in North Carolina,
we've got about $6.4 billion
00:13:49
worth of valuable products
that we are selling.
00:13:55
When you think
about bioproducts,
00:13:57
there are some that are
very traditional that most
00:14:00
people think about,
like tissue paper,
00:14:03
kitchen toweling at home,
and wood paneling and wood
00:14:07
flooring, wood decking, and
all the structural lumber
00:14:11
that goes into a house.
00:14:12
So those are conventional ones,
and those are bioproducts,
00:14:15
and those are
extremely valuable.
00:14:17
But there are other things
that we might not think about.
00:14:19
For instance, your cell
phone, your smartphone.
00:14:23
The display on the
outside is actually
00:14:26
a cellulose-based material.
00:14:28
Cellulose is a chemical that
we can extract from wood.
00:14:31
It's the main component of wood.
00:14:33
And as we process it and
purify it and convert it
00:14:37
into a semi-plastic, we can
use it for very high tech
00:14:40
applications.
00:14:42
That shirt I'm showing right
there is made out of rayon.
00:14:46
Rayon is also from wood.
00:14:48
So again, we take
fibers from the tree,
00:14:51
we convert them with
different chemistries,
00:14:55
and then we spin actual fibers
and filaments out of it.
00:14:59
And we can make very attractive
and comfortable clothing.
00:15:04
The cup down at the
bottom right is made out
00:15:07
of PLA, polylactic acid.
00:15:09
And that's actually
derived from corn.
00:15:13
We're also showing here
a 10% ethanol fuel.
00:15:17
So that ethanol is coming from
corn starch and the conversion
00:15:21
of corn starch to ethanol.
00:15:24
And then there are
some other examples
00:15:25
like glues and the
Coca-Cola bottle
00:15:28
that has a substantial
amount of natural biomass
00:15:33
that's converted into the
plastic for that bottle.
00:15:36
So it's all around us in lots of
different products that we use.
00:15:42
OK, so now what
I'd like to do is
00:15:44
talk about why should we
be using bio-based energy
00:15:47
and products.
00:15:48
We already found
out that the carbon
00:15:50
cycle is an important one, and
there are other advantages,
00:15:53
too.
00:15:55
So the first thing
I would say is
00:15:56
that there are improved
environmental impacts compared
00:15:59
to fossil resources, and
not just carbon dioxide.
00:16:02
There's lots of
other different ones
00:16:04
that there's advantages with
biomass and bioproducts.
00:16:09
For instance, mining
ore and drilling for oil
00:16:11
have implications to our land.
00:16:14
When we burn coal,
we get a coal ash
00:16:17
that is actually
disposed of in water.
00:16:19
And you might have heard of
coal ash ponds that have leaked,
00:16:25
and the coal ash pollutants
have gone into the rivers.
00:16:29
And then, of course, when we
burn the fossil fuels, not only
00:16:32
carbon dioxide, but other
components that cause acid rain
00:16:37
and particulates that
have human health hazards.
00:16:40
So in general, we
would like to move away
00:16:43
from these kinds of
non-renewable resources.
00:16:46
Now, another reason why we
want to use bio-based energy
00:16:49
and products is for
national security.
00:16:53
It turns out that
the United States
00:16:54
consumes quite a
bit of oil, about 20
00:16:57
million barrels per day.
00:16:59
And as shown in this
graph, what you see
00:17:02
is that we have to import almost
half of that into the country.
00:17:08
And so during times of
conflict or problems
00:17:11
with the weather or other
kind of upsetting phenomena,
00:17:17
we may not have enough oil to
import into our country for all
00:17:21
our needs.
00:17:22
It would be great if we could
be secure in our energy needs
00:17:26
internally so that we had better
control in troubling times.
00:17:32
Another reason why
we should think
00:17:34
that it's important to use
bio-based energy and products
00:17:38
is rural development.
00:17:40
The United States
is very fortunate
00:17:43
to have massive
amounts of rural area
00:17:45
that are actually productive
lands for agriculture
00:17:48
and forests.
00:17:49
And despite all
this and billions
00:17:53
of dollars in farm
subsidies, making a living
00:17:56
off crops and even
forests sometimes
00:17:58
can be very difficult.
00:18:01
And so what's
happening is population
00:18:03
is migrating to urban settings.
00:18:05
And that means an abandonment
of rural communities.
00:18:09
And really, what that means
is that the loss of the people
00:18:14
there in the rural areas,
we're losing our ability
00:18:19
to gain the benefits of
all these natural resources
00:18:22
that the United States has.
00:18:24
So down at the bottom here,
I'm showing a picture of corn.
00:18:28
It may be more difficult to
make a living off selling
00:18:32
low-valued corn kernels.
00:18:34
However, if those
corn kernels can
00:18:36
be processed into such a polymer
that we can make plastics,
00:18:41
like this polylactic
acid cup over here
00:18:44
on the right, that might
make the corn more valuable
00:18:46
and the products that we
make from it more value.
00:18:48
And maybe at that
point, it'll be easier
00:18:52
to make a living and a
career in a rural setting.
00:18:57
00:19:01
Now, another important
part about bioproducts
00:19:04
is that they're compatible
with the environment.
00:19:06
Fossil-based plastics, while
they're very valuable to us
00:19:09
and they serve a
real need, they're
00:19:11
not recycled at
a very high rate.
00:19:14
A lot of them find
their way into landfills
00:19:17
and into the
environment as litter.
00:19:19
And the problem is is that they
persist in the environment.
00:19:23
They actually make their way
and get into our food chain.
00:19:27
They actually absorb
toxic materials,
00:19:30
and when small microorganisms
eat that toxic material
00:19:34
and then that goes into shrimps
or fish or larger animals,
00:19:38
and then we finally
eat them, that
00:19:40
has a direct impact on
wildlife and on people.
00:19:45
If you contrast that with
bio-based products, things
00:19:48
like paper, cotton,
starch, these are natural.
00:19:50
They grow in nature, they
degrade naturally in nature.
00:19:54
When they go into nature,
they are incorporated back
00:19:57
into the soil.
00:19:58
Maybe some CO2 is emitted,
but in general, they
00:20:02
can be utilized by the
environment in a nice way.
00:20:06
Microorganisms
aren't transformed
00:20:08
into different things.
00:20:10
And so very powerful that
our bio-based products can
00:20:14
be incorporated.
00:20:16
OK, I've talked a lot about
advantages of bioproducts,
00:20:20
but now let's talk
about some challenges.
00:20:22
What kind of
questions do we need
00:20:24
to answer in order to use
biomass more productively?
00:20:29
Well, one of the
problems with biomass
00:20:31
is that they're typically
low density solids, OK?
00:20:36
So what that means
is, if they're
00:20:39
solids like wood
or corn kernels,
00:20:44
things like that, they're
harder to transport.
00:20:47
We can't just put them in a
pipe and pump them along just
00:20:50
like we can oil or natural gas.
00:20:52
So they're very
difficult to transport.
00:20:55
Now, transportation
can be a real issue
00:20:57
because the other
problem with biomass
00:21:01
is that they're low density.
00:21:03
In other words,
they're very bulky.
00:21:06
And that bulk leads itself
to having a low energy
00:21:10
density per unit volume.
00:21:12
So here in this picture, I'm
showing three different types
00:21:16
of material, all with
the same energy content.
00:21:20
But what you notice is, to
get the same energy content,
00:21:23
you've got to have a lot
bigger volume of straw
00:21:27
than you would of coal.
00:21:28
So you can imagine that the
transport, the collection,
00:21:33
the storage, all
these things that
00:21:35
are sensitive to the amount,
the volume of material,
00:21:40
are going to be more
difficult for straw than coal.
00:21:43
00:21:46
One other issue.
00:21:47
When we store coal, coal is
what we call hydrophobic.
00:21:51
So it doesn't absorb
a lot of water.
00:21:53
The water just
kind of repels off.
00:21:54
It beads up and rolls off.
00:21:56
That's not the same
case for wood and straw.
00:21:59
When we harvest
the wood and straw,
00:22:01
we call it green,
from the green state.
00:22:03
And what that means
is that there's
00:22:05
a lot of water and
moisture in living plants.
00:22:08
So we know that's a problem.
00:22:10
And then during storage, if we
store it outdoors and it rains,
00:22:14
the straw or the wood
will pick up moisture.
00:22:17
So that's also an issue.
00:22:18
And the moisture
actually, like when
00:22:21
we go to burn the straw,
as you can imagine,
00:22:23
if you try to burn wet straw,
you don't get as much energy.
00:22:26
You get a lot of smoke
and not as much energy.
00:22:29
So that can be also a
drawback of biomass.
00:22:32
00:22:36
Another challenge for biomass
is that it is living material.
00:22:41
After we harvest it, that
material is bio-compatible.
00:22:46
In other words, the environment
can take it and degrade it
00:22:50
and put it back into soil.
00:22:51
Great for when it's end of life.
00:22:54
But when we're trying
to store it and use it,
00:22:57
that's a problem because it
can degrade while we store it.
00:23:01
Another issue is that there's
just a variable composition.
00:23:05
When you get oil
from the ground,
00:23:07
if you know where you
got it from, in general
00:23:09
you know exactly what
the composition is.
00:23:11
And you've got a large volume
of that same composition.
00:23:15
For plants, it's not the same.
00:23:17
There are different
species of plants,
00:23:19
and then there are different
ways that they're grown,
00:23:21
the growing condition.
00:23:23
And then disease
and pests can also
00:23:25
make the biomass more variable.
00:23:27
So that can be a
very big problem.
00:23:29
If you have a
factory and you want
00:23:31
to have a constant,
consistent raw input material,
00:23:35
and you've got this
variable biomass coming in,
00:23:38
that can cause problems
in your product quality.
00:23:41
Another thing that's
very practical
00:23:42
but a very serious
problem is dirt and rocks.
00:23:46
Because we're harvesting them
from soil area, agriculture
00:23:49
and forests, it's not uncommon
to have some mineral type
00:23:54
materials come in
with the plants.
00:23:57
And those dirt and rocks,
they can abrade equipment,
00:24:00
they cause yield losses, and
all kinds of different problems.
00:24:03
So those are all challenges.
00:24:05
00:24:08
Another challenge for
bio-renewable resources
00:24:11
is the competition between food
and the bioproduct utilization.
00:24:17
So for instance, corn.
00:24:19
A lot of people
question whether we
00:24:20
should be using corn
to fuel our cars
00:24:23
or to make plastics out of.
00:24:25
Why?
00:24:26
Because they feel like
if the corn is all
00:24:28
going to those
applications, that the food
00:24:31
supply and the food will go down
and the food prices will go up.
00:24:36
And then there will
be some populations
00:24:38
that would have a
harder time getting
00:24:39
the food that they need.
00:24:41
So that's a challenge.
00:24:42
00:24:50
The last challenge and
not the least important,
00:24:53
this one is very,
very important.
00:24:55
00:24:58
The last challenge I'll
mention four bioproducts
00:25:01
is one that's
extremely important.
00:25:04
And the fact is is that
petroleum-based products
00:25:06
are really, really cheap.
00:25:08
And as a society, we've become
addicted to those low price
00:25:12
products and the
convenience of using them.
00:25:15
When we have a bioproduct,
it's not that inexpensive.
00:25:20
So I give this
example, polystyrene
00:25:23
is about $0.05 per pound.
00:25:25
And so you could make
a disposable plate out
00:25:29
of the polystyrene
foam for $0.05 a pound.
00:25:33
Contrast that to paper.
00:25:34
$.30 a pound to make a paper
plate, almost six times
00:25:38
more expensive.
00:25:40
And although $0.25 a pound
doesn't sound like a lot,
00:25:44
if you multiply that over the
millions and millions of plates
00:25:47
that we're using or cups or
films or bags, that adds up.
00:25:53
You see a lot of grocery
stores that basically give you
00:25:57
plastic bags away for free
because they're so inexpensive.
00:26:01
And then you have to
ask for the paper.
00:26:02
Well, the major part of that
is that the paper bags are
00:26:06
a little bit more expensive.
00:26:08
So that's a challenge
that bioproducts have
00:26:12
and that we have to address.
00:26:13
00:26:19
OK, so let me just
kind of summarize
00:26:22
with what I think the
bio-economy of the future
00:26:24
might look like.
00:26:26
First part, really important.
00:26:28
We're going to grow and harvest
biomass in a sustainable way.
00:26:33
That's the first thing.
00:26:34
Second thing is, we're going
to convert these to products
00:26:37
that meet society's needs.
00:26:40
And then the third thing
is, that bio-economy has
00:26:43
to be economically competitive.
00:26:45
So we have to realize that
there are petroleum products
00:26:47
out there that are cheap.
00:26:49
And how do we compete with them
on a dollar per dollar basis,
00:26:53
OK?
00:26:55
Why is this important?
00:26:57
Why is this exciting to me?
00:26:59
What we need are
young people that
00:27:01
have a lot of
enthusiasm, that want
00:27:03
to do the right thing
for the earth and people,
00:27:06
and are smart and are ready to
go and improve life for us, OK?
00:27:11
I think if we have those
kinds of young people
00:27:13
in our bio-economy, we will have
a sustainable circular process
00:27:19
that meets society's
needs and is
00:27:21
compatible with the environment.
00:27:24
Thank you for your attention.
00:27:27
