ClonBio stalls Irish and European Union investment

News Snapshot:

ClonBio is working on a US project on which it could potentially spend hundreds of millions of dollars. So-called skewed incentives have prompted specialist agribusiness group ClonBio to stall investment in the Republic and the rest of Europe, it has emerged. ClonBio earns revenues of €400 million a year making proteins, animal feed, biofuel, ethanol and alcohol from grain in Europe and the US, and renewable gas at a plant in Co Kildare. The group is working on a US project on which it could potentially spend hundreds of millions of dollars, but says poor regulation and incentives have forced...