Clients: ACR, anci lazio, Gemeente Almere, biomass research, CETAQUA Galicia, cetenma, CSCP, CluBE, DRAXIS, Greenovate, ITENE, BIR, Lipor, PRO curement, RDA, SAV, SAVONIA, Science for Change, Stadt Münster, 2GO OUT, Ayuntmiento de Murcia
Date: 2020 – 2024
Location(s): Europe-wide
The HOOP project supports 8 lighthouse cities and regions in developing large-scale urban circular bioeconomy initiatives that will focus on making bio-based products from urban biowaste and wastewater. The HOOP project unlocks bio-based investments and deploys local bio economies in Europe through a systemic and cross-cutting approach. It offers Project Development Assistance to a group of cities and technology providers to build the technical, economic, financial and legal expertise needed to develop concrete investments to valorise biowaste and wastewater with the aim of obtaining safe and sustainable bio-based products.
The challenge lies in the European Union’s Bioeconomy Strategy, which envisages cities emerging as significant circular bioeconomy hubs, using biowaste as a foundation for developing safe and sustainable bio-based products. However, the reality is that only a few cities and regions have actively pursued the development of circular bio-based economy strategies or undertaken projects to innovate bio-based product production. In response to this challenge, HOOP seeks to act as the catalyst by providing essential Project Development Assistance (PDA) to 8 lighthouse cities and regions, with the aim of sparking progress in this crucial sector.
Approach
Bax defines and tailors Circular Business Models connected to different technological solutions that fit the framework of a particular urban ecosystem which vary in size, political strategies related to waste management, type of waste and available financial resources. The circular team at Bax assesses the potential of projects (start-ups/ scale-ups), so parties can make quicker and better decisions to develop bankable ideas and projects.
Impact
Through collaborative efforts, the initiative facilitates sustainable circular bio-based economy investments, aiding in the launch of innovative projects aimed at valorising urban biowaste and wastewater through the production of bio-based products. Additionally, fostering the establishment of a European network comprising cities and regions, serving as a platform for the exchange of best practices and lessons learned the, HOOP Urban Circular Bioeconomy Hub.
Cities and regions have an important role to play in accelerating the transition to a circular economy. Although promising, the valorisation of urban bio-waste into innovative bio-products is associated with high up-front investment costs. In the HOOP project, we are working to overcome this challenge by developing financial tools and frameworks that facilitate the attraction of private capital. We are proud to say that the new financing models, tailored to the unique dynamics of the bio-economy, have already unlocked several million euros of investment in HOOP’s 8 lighthouse cities and regions.
– Johanna Reiland, Innovation Consultant
