- The plan for the reference plant is to be operational in
20251 in France (Longlaville) with a processing capacity of 50.000
tons of PET2 waste per year and creating 150 direct and indirect
new jobs.
- Indorama Ventures, the world’s largest producer of recycled
PET for beverage bottles, plans to co-invest in this project3 and
will consider expanding Carbios’ unique biological recycling
process at other PET sites4 for future developments.
- This strategic project is strongly supported by the French
Government and the Grand-Est Region5, with significant non-dilutive
financing.
Regulatory News:
Carbios (Euronext Growth Paris: ALCRB), a pioneer in the
development of enzymatic solutions dedicated to the end-of-life of
plastic and textile polymers and Indorama Ventures (Bloomberg
ticker: IVL.TB), one of the world-leading PET manufacturer, jointly
announced a collaboration to build a manufacturing plant operating
Carbios’ PET bio-recycling technology at Indorama Ventures’ PET
production site in France (Longlaville, Meurthe-et-Moselle).
Bruno Le Maire, French Minister of the Economy, Finance and
the Recovery: “We are very pleased that Carbios and Indorama
Ventures have chosen France to build their first 100% bio-recycled
PET manufacturing plant. From cutting-edge science, Carbios has
developed a disruptive technology and process that enables
efficient transformation of plastic waste into novel valuable
products. This breakthrough project showcases the government’s
ambition within France 2030: getting ready for the challenges of
the next decade. Combining biotechnology and a renewed industrial
ambition will be key to achieve a more circular economy.”
Agnès Pannier-Runacher, Minister Delegate for Industry:
“The announcement by Carbios of a flagship project of enzymatic
plastic recycling demonstrates our ability to foster the emergence
of innovative industry leaders with cutting edge technologies for
the energy transition. It is a success for industrial startups in
France as well as a key milestone in the France 2030 strategy,
making our industry ready to meet the needs of the Transition.”
Jean Rottner, President of Grand-Est Region:
“Contributing to a cleaner planet while creating new jobs and
economic value is our core mission. Hence, we are very pleased to
welcome Carbios in Grand-Est Region and very proud to greet
Longlaville site selection for their world-first 100% bio-recycled
PET plant, in partnership with Indorama Ventures, already present
and very active in our Region. Carbios reference plant is fully
integrated within Grand-Est Region ambition to become a leading
territory for PET circular economy. This project represents a first
significant milestone in building our complete ecosystem.”
After having successfully started-up its demonstration plant in
Clermont-Ferrand, Carbios is now moving one step further towards
the industrialization and commercialization by partnering with
Indorama Ventures. The goal is to build and operate in France the
world’s first industrial-scale enzymatic PET bio-recycling plant,
with a processing capacity estimated at ca. 50.000 tons of
post-consumer PET waste per year, equivalent to 2 billion PET
bottles or 2.5 billion PET trays.
“With this first medium-sized plant, we want to become the world
reference for the Circular Economy of plastics and textiles. By
engaging in such a partnership with Indorama Ventures, we confirm
our commitment to pursue our initial industrial development in
France. This plant will pave the way towards international
commercial and industrial deployment. We are grateful to our
shareholders, partners, the French Government, and Grand-Est Region
for sharing Carbios’ ambitions and vision towards a profitable
Circular Economy.” Comments Emmanuel Ladent, Chief Executive
Officer of Carbios.
After the positive results of Indorama Ventures’ initial
analysis on the technical soundness of Carbios’ technology over the
past several months, both parties agreed to complete a due
diligence process. A feasibility study will be conducted for the
industrialization of Carbios’ technology on Indorama Ventures’
French production site. Subject to the successful completion of
these technical and economical evaluations, Indorama Ventures would
co-invest in the project.
“We are pleased to implement Carbios’ innovative and
transformative technology at our Longlaville site. Bio-recycled PET
addresses customers’ growing demand to contribute to a cleaner
planet through high-quality plastics while decreasing the use of
hydrocarbons.” adds D K Agarwal, Chief Executive Officer of
Indorama Ventures.
The capital investment required for the project is expected to
be around €150 million for Carbios core technology, including in
particular an additional purification step, which has been
integrated into the process. In addition, an estimated €50 million
investment will be allocated for the infrastructure preparation of
the site. The project is expected to create approximatively 150
direct and indirect full-time jobs. In the coming months, Carbios
expects to finalize a strong non-dilutive financial support from
French Government and from the Grand-Est Region5, based on the
offer received last week by Carbios, from the Minister of Industry,
Agnès Pannier-Runacher and the President of Grand-Est Region, Jean
Rottner.
This financial support will be conditional on the notification
to the European Commission and on contractualization by French
authorities. Carbios announced in its half-year results on the 30th
September 2021 a cash position of €112 million. Since then, Carbios
has also secured a €30 million loan from EIB6.
This collaboration reflects both parties’ ambition to address
the growing concern of plastics pollution through the development
of Carbios’ enzymatic bio-recycling process. This disruptive
technology could accelerate the transition to a plastics Circular
Economy.
With its world-first enzyme-based biological process, Carbios’
technology, named C-ZYME™, converts PET (the dominant polymer in
bottles, trays and textiles made of polyester) into its core
monomers, which can then be used to manufacture 100% recycled and
infinitely recyclable PET. This first-of-a-kind manufacturing plant
combines Carbios’ science and technology with Indorama Ventures’
world-class manufacturing capabilities. This collaboration will
meet the growing needs of both demanding consumers and large
consumer goods companies including Carbios’ partners and
shareholders (L’Oréal, Michelin, L’Occitane, Nestlé Waters,
PepsiCo, Suntory Beverage & Food Europe) for more sustainable
packaging.
FOLLOW CARBIOS’ WEBCAST ON THE ANNOUNCEMENT
Emmanuel Ladent – Chief Executive Officer /
Kader Hidra – Chief Financial Officer
24th February 2022, 11:00 am CET – Paris Time
https://channel.royalcast.com/landingpage/carbios-fr/20220224_1/
24th February 2022, 17:00 pm CET - Paris Time
https://channel.royalcast.com/landingpage/carbios-fr/20220224_2/
Paris: +33 (0) 1 70 37 71 66 UK-Wide: +44
(0) 33 0551 0200 New York: +1 212 999 6659
About Carbios
Carbios, a green industrial biotech, develops biological and
innovative processes representing a major innovation in the end of
life of plastics and textiles. Through its unique approach of
combining enzymes and plastics, Carbios aims to address new
consumer expectations and the challenges of a broader ecological
transition by taking up a major challenge of our time: plastic and
textile pollution.
Established in 2011 by Truffle Capital, the mission of Carbios
is to provide an industrial solution to the recycling of PET
plastics and textiles (the dominant polymer in bottles, trays,
textiles made of polyester). 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 paper published in the prestigious
journal Nature. Additionally, Carbios is working hand in hand with
multinational brands — like L’Oréal, Nestlé Waters, PepsiCo and
Suntory Beverage & Food Europe — to implement its technology,
and to lead the transition toward a truly circular economy.
The Company has also developed an enzymatic biodegradation
technology for PLA (a bio-sourced polymer) based single use
plastics. This technology can create a new generation of plastics
that are 100% compostable in domestic conditions, integrating
enzymes at the heart of the plastic product. This disruptive
innovation has been licensed to Carbiolice, a joint venture created
in 2016, which is now Carbios’ subsidiary.
For more information, please visit www.carbios.com/en
Twitter: Carbios LinkedIn: Carbios Instagram : carbioshq
Carbios (ISIN FR0011648716/ALCRB) is eligible for the PEA-PME, a
government program allowing French residents investing in SMEs to
benefit from income tax rebates.
About Indorama Ventures
Indorama Ventures Public Company Limited, listed in Thailand
(Bloomberg ticker IVL.TB), is one of the world’s leading
petrochemicals producers, with a global manufacturing footprint
across Europe, Africa, Americas, and Asia Pacific. The company’s
portfolio comprises Combined PET, Integrated Oxides and
Derivatives, and Fibers. Indorama Ventures products serve major
FMCG and automotive sectors, i.e. beverages, hygiene, personal
care, tire and safety segments. Indorama Ventures has approx.
24,000 employees worldwide and consolidated revenue of US$10.6
billion in 2020. The Company is listed in the Dow Jones Emerging
Markets and World Sustainability Indices (DJSI).
Indorama Ventures is headquartered in Bangkok, Thailand with
global operating sites in
EMEA:
The Netherlands, Germany, Ireland, France,
UK, Italy, Denmark, Lithuania, Poland, Czech Republic, Luxembourg,
Spain, Turkey, Nigeria, Ghana, Portugal, Israel, Egypt, Russia,
Slovakia, Austria, Bulgaria
Americas:
USA, Mexico, Canada, Brazil
Asia Pacific:
Thailand, Indonesia, China, India, the
Philippines, Myanmar, Australia
For more information, please visit www.indoramaventures.com
Facebook: Indorama Venture PCL LinkedIn: Indorama Ventures PCL
Twitter: IVLTeam Instagram: indoramaventures_official
Translation is for information purposes only.
In case of discrepancy between the French and the English version
of this press release, the English version shall prevail
________________________________ 1 Estimated
date, depending on the grant of the authorizations to build and
operate and on the terms and conditions remaining to be defined for
this collaboration between both parties. 2 Polyethylene
terephthalate (PET) is the most abundantly used synthetic polyester
in circulation today, with an estimated global production of 82
million metric tons per year (IHS Markit in 2020). 3 Subject to the
completion of technical and economical due diligence in the coming
few months. 4 Indorama Ventures operates 19 PET production plants
on four continents in 11 countries (PET | Indorama Ventures). 5
Conditioned to aid notification to the European Commission and
in-additional assessments by French authorities. 6 Cf. Press
release dated December 20, 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220223006119/en/
Carbios: Laura Perrin / Agnès Mathé / Benjamin Audebert
contact@carbios.com +33 (0)4 73 86 51 76 Media Relations
(Europe): Tilder Marie-Virginie Klein mv.klein@tilder.com +33
(0)1 44 14 99 96 Media Relations (U.S.): Rooney Partners
Kate L. Barrette kbarrette@rooneypartners.com +1 212 223 0561
Indorama Ventures: Media Relations (worldwide):
Stuart Kelly stuart.k@indorama.net +66 2 661 6661 ext. 508
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