The Biden Administration has released a new report titled “Bold Goals for US Biotechnology and Biomanufacturing” this month which includes a target for 30% biobased chemicals. 

The report underscores the need to decarbonise the chemicals and materials industries, develop more carbon-neutral transportation and fuels, introduce sustainable agricultural practices, and remove CO2 from the atmosphere.

The report outlines a goal to produce at least 30% of the U.S. chemical demand via sustainable and cost-effective biomanufacturing pathways within the next 20 years. 

Another goal set includes demonstrating and deploying cost-effective and sustainable routes to convert bio-based feedstocks into recyclable-by-design polymers that can displace more than 90% of today’s plastics and other polymers at scale. 

When it comes to health, the administration is targeting an increase in the manufacturing scale of cell-based solutions in 20 years’ time to decrease the manufacturing costs of cell-based therapies tenfold.

The report includes five sections with goals intended to provide a broad vision for the US bioeconomy. It lays out ambitious targets for the next two decades to establish R&D priorities that will be critical to advance the bioeconomy. 

In September 2022, Biden signed an Executive Order (E.O.) making biotechnology a national priority.