CLERMONT-FERRAND, France--(BUSINESS WIRE)--Regulatory News:
Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development and industrialization of biological technologies for reinventing the life cycle of plastics and textiles, announces that its project has been selected by the French State for funding of €30 million from the French State as part of the investment plan France 2030, and €12.5 million from the Grand-Est Region. The implementation of this funding is conditional to the European Commission's approval of the corresponding state aid scheme, followed by the conclusion of national aid agreements. As part of the national call for projects on "Plastics Recycling" operated by ADEME2, Carbios' project to finalize the industrialization of its unique PET biorecycling process has been selected. The reference plant in Longlaville in the Grand-Est region will be the world’s first PET biorecycling plant and is due for commissioning in 2025. This plant will make it possible to relocate to France the production of the two basic components of PET, PTA and MEG3, both derived from the Carbios process.
Carbios also announces that it has been granted total funding of €11.4 million from the French State as part of France 2030, of which €8.2 million directly for Carbios (€5 million in repayable advances) and €3.2 million for its academic partners INRAE4 , INSA5 and CNRS6 via the TWB7 and TBI8 joint service and research units. This funding will enable to continue its research into the optimization and continuous improvement of Carbios’ enzymatic technologies.
Christophe Béchu, French Minister for Ecological Transition and Territorial Cohesion : "Fighting plastic pollution is a global emergency that requires a drastic reduction in its use, but also an increase in its recycling. For many years, French public and private research teams have been working together to develop a new enzymatic recycling technology. By supporting the construction of Carbios first biorecycling plant in the world, France is proving that Carbios’ technology has now become an industrial reality, making it possible to recycle waste that was previously difficult to recycle.”
Roland Lescure, French Minister for Industry: "I'm delighted to be able to announce, at the opening of the World Plastics Conference, the French State’s support of nearly €54 million for Carbios' innovative enzymatic plastic recycling projects. The construction in France in 2023 of the world's first enzymatic plastic recycling plant is an important step towards building a fully circular plastic economy, one of the greatest environmental challenges of the next two decades. This project shows just how much the ecological transition is also an opportunity for the green reindustrialization of our country."
Bruno Bonnell, Secretary General for Investment FRANCE 2030: "France 2030's support is twofold: to provide France with an innovative plastics processing solution, and to position Carbios' business model, based on license sales, at an international level. Carbios is a company whose development has been progressive, from public research, through the creation of a start-up, to the industrialization of a technological process. This is a continuum that France 2030 supports in particular, and Carbios is an excellent showcase.”
Franck Leroy, President of Grand-Est Region: "I'm very grateful to Emmanuel Ladent and the Carbios teams for choosing the Grand-Est Region to set up their world's first 100% biorecycled PET plant. By supporting this project, the Region is actively contributing to preserve the environment, while creating new jobs and added value in the Grand-Est. This is also excellent news for Longlaville, and I'd like to pay tribute to both its Mayor and the President of the Metropolitan area. They have spared no effort, with the constant support of the French State and ADEME, to make this plant a reality. The Carbios reference plant is fully in line with the ambition of the Grand-Est region to become a leader in the PET circular economy. This project represents a further milestone in the construction of our ecosystem.”
The plant will secure the sales of the first volumes of recycled PET produced with Carbios’ technology, and to offer its partners recycled PET of the same quality as virgin PET. Once the necessary permits have been obtained, which should be granted by the end of 2023, in line with the announced start of construction before the end of the year, the plant is scheduled to be commissioned in 2025. This will be followed by a period of ramp-up to full capacity. The plant will have a nominal processing capacity of 50,000 tonnes of PET waste per year, equivalent to 2 billion bottles or 2.5 billion food trays.
Emmanuel Ladent, Chief Executive Officer of Carbios: "Thanks to the French State’s previous support, we were able to demonstrate the economic and environmental competitiveness of our technology at the industrial demonstrator scale in Clermont-Ferrand. The renewed support from ADEME and that of the Grand-Est Region are crucial for this new industrial step which marks the start of our international deployment. Our first plant will be the global showcase for our PET biorecycling technology, and we are very proud that it is located in France. I would like to thank the Carbios Board of Directors, and in particular its Chairman Philippe Pouletty, for his decisive role in bringing this first plant to fruition.”
Selection for funding by the French State through France 2030 and the Grand-Est Region complements the recent announcement of an exclusive, long-term partnership with Novozymes9, the world leader in enzyme production, one of the main aims is to ensure the supply of enzymes to Carbios' Longlaville plant and future licensed plants. In addition, Carbios recently secured a first supply source for its future plant by winning part of the CITEO tender for the biorecycling of multilayer trays10.
France 2030 is an investment plan on an unprecedented scale. €54 billion will be invested to ensure that companies, universities and research organizations are in a position to respond competitively to the ecological and attractiveness challenges of the world ahead, and to foster the emergence of future leaders in our sectors of excellence, particularly in the field of ecological transition. From fundamental research, to the emergence of an idea, to the production of a new product or service, France 2030 supports the entire life cycle of innovation, right through to industrialization.
Carbios is a biotech company developing and industrializing biological solutions to reinvent the life cycle of plastic and textiles. Inspired by nature, Carbios develops enzyme-based processes to break down plastic with a mission to avoid plastic and textile pollution, and accelerate the transition to a circular economy. Its two disruptive technologies for the biorecycling of PET and the biodegradation of PLA are reaching industrial and commercial scale. Its biorecycling demonstration plant has been operational since 2021 and a first-of-a-kind reference unit, in partnership with Indorama Ventures, is due to be commissioned in 2025. Carbios has received scientific recognition, notably with the cover of Nature, and is supported by prestigious brands in the cosmetics, Food & Beverage and apparel industries to enhance their products’ recyclability and circularity. Nestlé Waters, PepsiCo and Suntory Beverage & Food Europe are members of a packaging consortium founded by Carbios and L’Oréal. On, Patagonia, PUMA, PVH Corp. and Salomon collaborate with Carbios in a textile consortium.
Visit www.carbios.com/en to find out more about biotechnology powering plastic and textile circularity.
Information on Carbios shares:
ISIN Code FR0011648716
Ticker Code Euronext Growth: ALCRB
Carbios, founded in 2011 by Truffle Capital, is eligible for the PEA-PME, a government program allowing French residents investing in SMEs to benefit from income tax rebates.
Disclaimer on forward-looking statements and risk factors:
This press release contains forward-looking statements, not historical data, and should not be construed as a guarantee that the facts and data stated will occur. These forward-looking statements are based on data, assumptions and estimates considered reasonable by Carbios. Carbios operates in a competitive and rapidly evolving environment. It is therefore not in a position to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the materialization of a risk or combination of risks could lead to results that differ significantly from those mentioned in any forward-looking statement. Carbios draws your attention to the fact that forward-looking statements are in no way a guarantee of its future performance and that its actual financial position, results and cash flows and the development of the sector in which Carbios operates may differ significantly from those proposed or suggested by the forward-looking statements contained in this document. In addition, even if Carbios’ financial position, results, cash flows and developments in the industry in which it operates are consistent with the forward-looking information contained in this document, such results or developments may not be a reliable indication of Carbios’ future results or developments. Readers are advised to carefully consider the risk factors described in the Universal registration document filed with the French Market Authority (“AMF”), as well as in the half-year financial report available free of charge on the Company’s website. Should all or any part of these risk factors materialize or others, in no case whatsoever will Carbios be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. This information is given only as of the date of this press release. Carbios makes no commitment to publish updates to this information or on the assumptions on which it is based, except in accordance with any legal or regulatory obligation applicable to it.
Translation is for information purposes only.
In case of discrepancy between the French and the English version of this press release, the French version shall prevail.
1 The implementation of this funding for €42.5 million is conditional to the European Commission's approval of the corresponding state aid scheme, followed by the conclusion of national aid agreements.
2 The French Agency for Ecological Transition
3 PTA = purified terephthalic acid; MEG = monoethylene glycol
4 French National Research Institute for Agriculture, Food and the Environment
5 French National Institute of Applied Sciences
6 French National Center for Scientific Research
7 Toulouse White Biotechnology - UMS INRAE 1337 / UAR CNRS 3582
8 Toulouse Biotechnology Institute - UMR INSA/CNRS 5504 / UMR INSA/INRAE 792
9 Cf. press release dated 12 January 2023
10 Cf. press release published by Citeo dated 26 April 2023