CLERMONT-FERRAND, France--(BUSINESS WIRE)--Regulatory News:
CARBIOS (Paris:ALCRB) (Euronext Growth Paris: ALCRB), pioneer company in the field of bioplasturgy, announces the acceleration of the development of its subsidiary CARBIOLICE concretizing its innovation strategy with the production of masterbatches supported, in accordance with initial commitments, by a new funding of € 3.35 million from CARBIOLICE’s partners.
Resulting from an unprecedented partnership between CARBIOS, Bpifrance (SPI) and Limagrain Céréales Ingrédients (LCI), CARBIOLICE today manufactures corn-based compounds and biopolymers for plastic manufacturers involved in different markets such as bags, mulching films and technical films. In 2020, it will commercially use its license on the enzymatic biodegradation technologies developed by CARBIOS to manufacture masterbatches serving to produce 100% compostable and 100% biodegradable single-use plastics, whose content in biobased materials will meet the new objectives set by the Energy Transition Law for Green Growth. In addition, to position itself on growing markets, CARBIOS extended the scope of the license granted to CARBIOLICE to rigid packaging, upon payment of an additional lump sum conditioned on the achievement by CARBIOLICE of a defined turnover.
This second financing from CARBIOLICE’s partners, of which € 1.1 million is brought by CARBIOS, comes along with the structuration of the industrial production unit and the reinforcement of commercial and technical means in anticipation of the market launch of this new range of products in 2020. As a reminder, beyond the contribution of assets from LCI and the licensing of CARBIOS, the three partners of the project previously invested € 4 million in 2016 out of a total of € 18 million spread over 4 years according to the achievement of technical and commercial milestones. Bpifrance has planned to invest € 11 million over this period, holding 37% of CARBIOLICE’s capital in the end.
“This first commercial unit producing enzymated masterbatches offers CARBIOLICE the opportunity to become a global leader in the plastic industry and a key player in the biodegradation of single-use plastics. In line with our commitments, this new funding round reinforces our ability to take a place among the major players in the energy and environmental transition,” stated Jean-Claude LUMARET, CEO of CARBIOS.
CARBIOLICE intends to generate the creation of 50 direct jobs with the deployment on an industrial scale of one of the first technologies of Green Chemistry in France, which allows to provide a concrete answer to a major environmental and regulatory challenge: produce wasteless plastics.
CARBIOS is a green chemistry company whose innovations provide solutions to the environmental and sustainable development issues that manufacturers currently face. Since its founding in 2011, the company has developed two industrial-scale biological processes for the biological breakdown and recycling of polymers. These unique innovations help optimise the performance and life cycle of plastics and textiles by capitalizing on the properties of specially selected enzymes. CARBIOS’s economic growth model is based on the industrial roll-out and sale of its products, enzymes, technologies and biological processes through direct licence agreements or joint ventures, to major players in the fields to whom they would most benefit. To that end, CARBIOS founded the joint venture CARIOLICE in 2016, in partnership with Limagrain Céréales Ingrédients and the fund SPI, run by Bpifrance. This company, in which CARBIOS holds a controlling share, will market the first technology licensed by CARBIOS by producing enzyme pellets used in the production of biodegradable and bio-sourced plastics. Since its founding, CARBIOS has been backed by Truffle Capital, a European investment capital player. CARBIOS qualifies as an “Innovative Company” according to Bpifrance, which makes the company’s shares eligible for inclusion in innovation-focused mutual funds (FCPIs). 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.