Bailing out manufacturers cannot be the full answer to the challenges facing European industry, including competition with China and geopolitical shocks to supply chains.
In an interview to Der Spiegel, Magnolia Tovar argues that innovation has a critical role to play – for both industrial competitiveness and climate goals.
Europe needs to do more than simply protect its existing industrial base. It must also accelerate the research, development, and deployment of tomorrow’s technologies.
One example is synthetic nitrogen fertilizer production. New electricity-based processes could reduce dependence on imported fossil gas while strengthening Europe’s chemical industry and reducing the climate impact of a sector responsible for around 2% of global CO₂ emissions.
European companies are already developing technologies that use electricity, nitrogen from the air, and water to produce fertilizers, opening the door to cleaner, more resilient production.
Read the article here (in German, behind a paywall).