A preliminary definition of the full value chain of the BioSFerA concept was accomplished during the first period of the project with the identification of the stakeholders’ community, the KPIs definition, the feedstock selection, the replicability assessment in selected European countries and the development of a preliminary process model. Lab scale gasification and fermentation tests revealed that the reformer is able to remove most of the syngas contaminants thus allowing the successful growth of acetogenic bacteria. Gas fermentation trials with Moorella thermoacetica wild-type strain in pressurized bioreactors have achieved an acetate production of above 30 g/L reaching the project’s target. Efforts to increase the acetate productivity are underway. As for the acetate fermentation, experiments with Yarrowia lipolytica modified strain have shown a clear increase in TAG accumulation compared with the wild-type strain. Optimization trials have resulted in increased lipid titer and low by-product formation. Genetic engineering efforts for the construction of recombinant strains to further improve acetate and TAGs production are still in progress. In addition, several techniques for TAGs recovery and purification, including the innovative steam explosion method, are being evaluated. A modular pilot unit for syngas-to-acetate conversion has been built and the preparatory activities for its integration to the synthesis gas plant in Finland are almost complete. The piloting runs, that will validate syngas fermentation at TRL5, are scheduled for April 2023. Furthermore, a Computational Fluid Dynamics (CFD) simulation is being developed to investigate the hydrodynamics of an industrial DFB gasifier, as well as a process model for the commercial BioSFerA replication using data from the lab/pilot tests, as well as the literature. The assessment of the BioSFerA concept from an environmental, economic and social point of view is also being performed. A communication and dissemination strategy has also been applied to increase the project visibility. A website, social media profiles, as well as a newsletter, have been constructed and brochures and roll-up banners have been created. Publications, results and news on the BioSFerA channels have raised public awareness about the project.