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By Sarah Sloat
France's L'Oreal SA (OR.FR) said Wednesday that it has invested in Carbios S.A. (ALCRB.FR), a recycling-technology company focused on plastics and textile polymers.
L'Oreal's venture capital fund, Bold Business Opportunities for L'Oreal Development, invested in Carbios through a capital increase. The company didn't specify the size of its investment.
Carbios has developed sustainable technology that uses enzymes that can recycle broader PET plastics and polyester fibers feedstock than other recycling technologies, L'Oreal said. The process can also be used for other forms of packaging.
Bold Business Opportunities for L'Oreal Development is a fund set up to take minority stakes in innovative companies and brands with high growth potential, L'Oreal said.
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(END) Dow Jones Newswires
June 26, 2019 13:01 ET (17:01 GMT)
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