French government awards Global Bioenergies €16.4 million to help fund construction of the world’s first biosourced isobutene plant
04 Octobre 2023 - 7:00AM
French government awards Global Bioenergies €16.4 million to help
fund construction of the world’s first biosourced isobutene plant
PRESS RELEASE
French government awards Global
Bioenergies €16.4 million to help fund construction of the world’s
first biosourced isobutene plant
Evry, 04 October 2023 – 07:00
a.m.: Under Bpifrance’s “Première Usine” call for projects
as part of the France 2030 plan, the French government has decided
to help finance the project to build a plant capable of producing
10,000 tonnes of isobutene and derivatives per year. The government
will provide €16.4 million of non-dilutive funding in the form of a
subsidy (60%) and a repayable advance (40%). The plant is due to
start operating in 2027.
The unique technology developed by Global
Bioenergies for producing isobutene from natural resources will
allow the cosmetics industry to increase the naturalness of its
formulas and the aviation industry to gradually reduce its
dependence on oil, without sacrificing performance and without the
need to adapt existing equipment and facilities.
Bruno Bonnell, Secretary General for Investments
in charge of the France 2030 plan, explained: “Global Bioenergies
has developed, in France, an innovative process of global reach
that offers a new solution for decarbonising a range of industrial
sectors. France 2030 aims to detect, de-risk and support disruptive
technologies.”
Marc Delcourt, co-founder and CEO of Global
Bioenergies, said: “This support from the government is essential
and represents the cornerstone of the overall financing
arrangements for the plant, which we hope to finalise by mid-2024.
Located in France, the plant will contribute towards adding value
to the region’s abundant resources, reviving local industry and
establishing a totally new economic sector.”
This project has been funded by the French
government as part of France 2030
Funded by the European Union - Next Generation EU
under the France Relance plan
About GLOBAL BIOENERGIES
Global Bioenergies substitutes products of
fossil origin with products of natural origin. In their quest for
naturalness without compromising on performance, the cosmetics
players are the Company's first customers. By 2027, the Company
will be operating its innovative process in a large-scale plant. By
2030, the Company plans to become a leader in the huge emerging
market for sustainable aviation fuels, in order to fight against
global warming. Global Bioenergies is listed on Euronext Growth in
Paris (FR0011052257 - ALGBE). L'Oréal is its largest shareholder,
with a 13.5% stake.
Contacts
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- French government awards Global Bioenergies €16.4 million to
help fund construction of the world’s first biosourced isobutene
plant
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