CLERMONT-FERRAND, France--(BUSINESS WIRE)--Regulatory News:
Carbios (Paris:ALCRB) (Euronext Growth Paris: ALCRB), a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers, announced today that it has received alongside two significant partners T.EN Zimmer GmbH and Deloitte € 3.3 million - including € 3 million for Carbios – in the form of a European grant. T.EN Zimmer GmbH, will provide its expertise on monomer repolymerization in 100% recycled PET, and Deloitte on the environmental performance analysis (mainly through the Life Cycle Analysis) of the process for plastic and textile waste.
The European LIFE funding program is a major grants tool that supports innovative solutions with low environmental impact and a track record of industrial deployment. Carbios' C-ZYME™ technology fully complies with the European Commission's goals.
Faced with the limitations of thermomechanical recycling processes, Carbios' approach is unique in that it creates value for plastic and textile waste by providing 100% recycling of all types of PET waste without loss of quality. Carbios is committed to a truly circular economy model across the whole value chain of the plastics and textiles life cycle. At the cusp of industrialisation, its one-of-a-kind method will fulfil both the European Union's regulatory requirements2 and the ambitions of large companies that have announced significant commitments to sustainable materials. “We were able to demonstrate the significant deployment capacity of our enzymatic PET recycling technology by bringing our industrial demonstration unit into operation in September 2021. The grant will help fund the development of trials on plastic and textile waste at the demonstration plant, which will help confirm the process's scale-up and lead to the commercialization of our technology through licensing,” says Kader Hidra, Carbios’ Chief Financial Officer.
The LIFE program aims to fund initiatives that meet the regulations that the European Union is enacting. Recent legislative reforms2 in favor of an improved end of life of plastics, have created a major potential for enzymatic recycling of plastics and textiles in PET.
About Carbios: Carbios, a green chemistry company, 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.
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.
Translation is for information purposes only.
In case of discrepancy between the French and the English version of this press release, the French version shall prevail.
1 This funding, made up of grants, will be paid in several instalments over the duration of the project with an initial payment of 40%.
2 DIR (2019)/904 on single-use plastics, Circular Economy Action Plan (strategy for textiles and strategy for a cleaner and more competitive Europe COM (2020)98), The EU Strategy for Plastics in the Circular Economy European Green Deal COM (2019)640)