Industrial Biotechnology is a set of practices that uses living cells such as bacteria, yeast, algae or components of the cells like enzymes to generate the products of industrial importance. It is often referred to as the "Third wave" in biotechnology. It is one of the most favourable processes/method to control some of the serious issues of modern industry. If it is developed to its full extent it may have a larger impact on world than healthcare and agricultural biotechnology. This session will include the recent advances and research which entitles to use renewable raw materials and can contribute to lowering greenhouse gas emissions and stirring away from a petrochemical-based economy.