Carbios Receives € 1.4m From ADEME Following the Success of the First Milestone of Its CE-PET Research Project
CARBIOS (Euronext Growth Paris: ALCRB) (Paris:ALCRB), a company pioneering new bio-industrial solutions to reinvent the lifecycle of plastic and textile polymers, announced the confirmed success of a key stage of the CE-PET1 project and as a result, that it has received a total amount of 1.4 million euros2 from the Investments for the Future Program (PIA) operated by ADEME (France’s Agency of the Environment and Energy Management).
The CE-PET project, led by Carbios, aims to accelerate the ramp-up of the Company's industrial and commercial project in the bio recycling of plastic waste and PET fibers. To this end, Carbios and its academic partner TWB are working on the development of new enzymes whose activity, thermostability and adsorption on the polymer will be improved to ensure the best possible productivity of the depolymerization stage and fully adapt the process of enzymatic recycling to PET polyester fibers. As part of this project, Carbios is also focusing on optimizing at pilot stage the pre-treatment stages of waste (plastics and textiles), depolymerization and monomer purification. This first step made it possible to demonstrate the circularity of the process, with the production of the first PET bottles from Carbios' enzymatic recycling technology3.
Following the provisional schedule, all the deliverables for the first milestone were obtained. The piloting of the enzymatic recycling process carried out on plastic PET waste has made it possible to establish the specifications of the engineering works of the industrial demonstrator, the construction of which must start at the beginning of 2020. Besides, the development of the process on high-grade textile waste in PET has demonstrated depolymerization levels equivalent to those obtained on plastic waste.
Jean-Claude Lumaret, CEO of Carbios comments: « This milestone confirms the relevance and effectiveness of our collaborative approach with the National Institute of Applied Sciences of Toulouse (INSA) and Toulouse White Biotechnology (TWB)/ the Toulouse Biotechnology Institute laboratory. We are eager to translate these developments into our future demonstration plant and make this innovation an industrial reality. »
Carbios is a green chemistry company whose innovations meet the environmental and sustainable development challenges facing manufacturers. Since its creation in 2011 by Truffle Capital, the Company has developed, through biotechnology, two industrial processes that revolutionize the biodegradation and recycling of polymers. These innovations, a world first, optimize the performance and life cycle of plastics and textiles by exploiting the properties of highly specific enzymes.
Carbios' economic development model is based on the industrialization and commercialization of its products and/or enzymes, technologies and bioprocesses through license concessions directly or through joint ventures to major industrial players or sectors concerned by the Company's innovations. As such, Carbios created the joint venture Carbiolice in September 2016, in partnership with Limagrain Ingredients and the SPI fund operated by Bpifrance. This company, of which Carbios has majority control, will exploit the first technology licensed by Carbios by producing enzymatic granules for the production of biodegradable and biobased plastics.
Carbios benefits from the qualification "Innovative Company" of Bpifrance allowing the eligibility of the Company's securities for the investment of Mutual Funds Placement in Innovation (FCPI).For more information, please visit: www.carbios.fr
CARBIOS is eligible for the PEA-PME, a government program allowing French residents investing in SMEs to benefit from income tax rebates.
This press release does not constitute and cannot be regarded as constituting an offer to the public, an offer to sell or a subscription offer or as a solicitation to solicit a buy or sell order in any country.
Translation 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 : Circular Economy-PolyEthylene Terephthalate.
2 : Of which € 0.6 million was paid in the first half of 2019.
3 : Cf Press release of February 27, 2019.
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