CLERMONT-FERRAND, France – (COMMERCIAL THREAD) – Regulatory news:
Carbios (Paris: ALCRB) (Euronext Growth Paris: ALCRB), a pioneer in the development of enzymatic solutions dedicated to the end of life of plastic and textile polymers, today announces that it has received alongside two important partners T.EN Zimmer GmbH and Deloitte 3.3 million euros – including 3 million euros for Carbios – in the form of a European subsidy. T.EN Zimmer GmbH, will bring its expertise on the repolymerization of monomers in 100% recycled PET, and Deloitte on the analysis of the environmental performance (mainly through the Life Cycle Analysis) of the plastic and textile waste process.
The European LIFE funding program is a major grant tool that supports innovative solutions with low environmental impact and industrial deployment experience. Carbios’ C-ZYME ™ technology fully complies with the objectives of the European Commission.
Faced with the limits of thermomechanical recycling processes, Carbios’ approach is unique in that it creates value for plastic and textile waste by ensuring 100% recycling of all types of PET waste without loss of quality. Carbios is committed to a true circular economy model across the entire plastics and textiles lifecycle value chain. At the dawn of industrialization, its unique method will meet both the regulatory requirements of the European Union2 and the ambitions of large companies which have announced major commitments in favor of sustainable materials. “We were able to demonstrate the significant deployment capacity of our enzymatic PET recycling technology by commissioning our industrial demonstration unit in September 2021. The grant will finance the development of tests on plastic and textile waste on the demonstration plant, which will confirm the scaling of the process and lead to the commercialization of our technology through licenses, ”said Kader Hidra, CFO of Carbios.
The LIFE program aims to finance initiatives that comply with regulations issued by the European Union. Recent legislative reforms2 in favor of a better end-of-life of plastics, have created a major potential for enzymatic recycling of plastics and textiles in PET.
About Carbios: Carbios, a green chemistry company, develops biological and innovative processes representing a major innovation at the end of the life of plastics and textiles. Through its unique approach of combining enzymes and plastics, Carbios intends to meet new consumer expectations and the challenges of a wider ecological transition by taking up a major challenge of our time: plastic and textile pollution.
Created in 2011 by Truffle Capital, Carbios’ mission is to provide an industrial solution to the recycling of PET plastics and textiles (the dominant polymer in bottles, trays, polyester textiles). The enzymatic recycling technology developed by Carbios deconstructs any type of PET plastic waste into its basic components which can then be reused to produce new PET plastics of a quality equivalent to virgin ones. This PET innovation, the first of its kind in the world, was recently recognized in a scientific article published in the prestigious journal Nature. In addition, Carbios works hand in hand with multinational brands – such as L’Oréal, Nestlé Waters, PepsiCo and Suntory Beverage & Food Europe – to implement its technology and lead the transition to a truly circular economy.
The Company has also developed a technology for the enzymatic biodegradation of single-use plastics based on PLA (a bio-based polymer). This technology can create a new generation of plastics that are 100% compostable under domestic conditions, incorporating enzymes at the heart of the plastic product. This breakthrough innovation was licensed to Carbiolice, a joint venture created in 2016, which is now the subsidiary of Carbios.
For more information, please visit www.carbios.com/en
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Carbios (ISIN FR0011648716 / ALCRB) is eligible for PEA-PME, a government program allowing French residents investing in SMEs to benefit from income tax reductions.
The translation is for informational purposes only.
In the event of any discrepancy between the French version and the English version of this press release, the French version will prevail.
1 This funding, made up of grants, will be paid in installments over the duration of the project with an initial payment of 40%.
2 DIR (2019) / 904 on single-use plastics, Circular Economy Action Plan (strategy for textiles and strategy for a cleaner and more competitive Europe COM (2020) 98), The EU Strategy for Plastics in the Circular Economy European Green Deal COM (2019) 640)
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