A research collaboration agreement signed by Scion (New Zealand) and the VTT Technical Research Center of Finland earlier this month gives New Zealand better access to global opportunities in the bioeconomy.

"This agreement sets a clear path for us to focus on co-invention and commercialization of technologies that will contribute to increased use of climate friendly, lightweight, high performance materials made from forest biomass. We have complementary science and technology capabilities and a good history of joint work. Under this agreement, we will also jointly target E.U. funding and approach global opportunities in the bioeconomy, particularly in Asia," said Scion CEO Warren Parker.

"Scion and VTT are collaborating on exciting research at the leading edge end of global trends, such as novel carbon materials, nanocellulose applications, biorefineries, and pulp, paper and packaging - areas of huge interest to high - value manufacturers," added Parker.

The first project conducted under the agreement will adapt VTT technology for hardwood trees and apply it to New Zealand radiata to develop a new biobased film for the packaging industry.

VTT CEO Dr. Antti Vasara said, "The bio and circular economy are global hot spot areas with huge technology potential where VTT and Scion can combine their competences and work together to open up new commercialization opportunities. With this agreement, we are also happy to see Scion as our partnering organization in New Zealand better serving industry for the benefit of all."

The signing of the Umbrella Research Collaboration Agreement took place at a business innovation forum in Auckland on March 3, attended by the foreign affairs ministers of Finland and Estonia, the New Zealand business, innovation, and employment minister, the foreign affairs minister, and the trade minister, along with business representatives from all countries.