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Plovdiv Reaps Double Windfall of Investment

2023/12/05
in Infrastructures

The European Commission and Bulgaria inaugurated the country’s first Centre for Scientific Excellence in the Field of Plant Biology and Biotechnology (CPSBB), in Plovdiv. The centre educates PhD students in biotechnology, linking academia and industry in Bulgaria.

Meanwhile, Schneider Electric Bulgaria has invested €1.8m in a geothermal energy system at its smart factory in the same city. The project, part of a larger expansion of the smart factory, aims to replace natural gas use with sustainable energy solutions. The geothermal system is expected to recoup the investment within 10-13 years. The expansion will create 150 new jobs, increase the company’s workforce to over 1,000 and increase production output by 30%. 

Schneider Electric Bulgaria, which has been operating since 1990, is committed to decarbonising its operations and aiming to become carbon neutral by 2030. The company has joined the Trakia Economic Zone’s carbon zero charter, which aims for 60% renewable energy for industrial production needs by 2030.

The CPSBB is co-financed with €3m from the European Regional Development Fund and €13m from the Horizon 2020 programme and will use genetics and genome technologies to address plant development, physiology, and environmental adaptation.

Bulgaria, like many European countries, has been gradually developing its biotech sector. The industry is likely characterized by a combination of research institutions, startups, and established companies focusing on areas such as healthcare, agriculture, and environmental solutions.

In agriculture, biotech companies may be involved in developing genetically modified organisms (GMOs) or other advanced technologies to enhance crop yields, improve pest resistance, and promote sustainable farming practices.

Environmental biotechnology is another potential area of focus, addressing issues such as waste management, pollution control, and renewable energy solutions. Companies may be working on technologies that contribute to a cleaner environment and sustainable resource use.

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