CLERMONT-FERRAND, France--(BUSINESS WIRE)--Regulatory News:
CARBIOS (Euronext Growth Paris:ALCRB) announces today the signature of a Letter of Intent (LOI) with KEM ONE for an implementation project, in the French Chemical Valley, of an industrial demonstration plant to secure the value of its breakthrough technology.
PET plastics and fibers are used to make everyday consumer goods such as bottles, packaging and textile. Today, most of PET is produced from fossil resources, used and discarded according a wasteful linear. By creating a circular economy from used plastics and fibers, CARBIOS biorecycling technology is bringing a sustainable and eco-friendly solution. Indeed, this proprietary innovation enables to use waste plastics and fibers instead of petrochemicals to produce new virgin material, with no loss of quality.
Under the terms of this Letter of Intent, CARBIOS and KEM ONE have defined the principles that will guide their collaboration over the next six months in the prospect of the implementation of a PET biorecycling demonstration plant on KEM ONE’s industrial site in Saint-Fons. CARBIOS undertakes to study the construction of its demonstration plant on Saint-Fons site. KEM ONE undertakes to make its best efforts to mobilize all stakeholders and assist CARBIOS in defining the conditions for the provision of land, main utilities and required services, and in its procedures involving public authorities.
Upstream the construction of the demonstration plant, expected to start mid-2019, CARBIOS will be assisted and advised for the engineering study by its partner TechnipFMC, a world leading company in engineering and technologies.
Alain CONSONNI, Site Manager at KEM ONE comments: “We are delighted to enter in such discussions with CARBIOS. Our industrial site, embedded in France’s birthplace of chemistry, is ideally placed to host innovative clean technologies. As a major player in the vinyl industry in Europe, we are deeply committed to promoting and developing solutions that addresses key environmental and societal challenges of our time.”
Jean-Claude LUMARET, CEO of CARBIOS adds: “With this ambitious project, we’ll reinforce our anchorage in the Auvergne Rhône-Alpes region. The economic vitality of the Chemical Valley and KEM ONE’s site at Saint-Fons seem perfectly suited for the scale-up and subsequent industrial demonstration of our innovative technology. Its organization offers many industrial synergies with the pooling of services, equipment and resources. We are confident that our strategy will lead to a successful industrial roll-out of our biological solution for infinite recycling of PET plastics and fibers.”
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 also eligible for inclusion in SME share savings accounts (PEA-PMEs).
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.