Carbios Announces the Signing of an Expression Of Intent Agreement with a Major PET Producer
April 26 2021 - 12:45AM
Business Wire
- Significant PET producer could host a 100% PET
recycling production unit using Carbios’ technology
- With this second EOI agreement, Carbios
confirms its plan to build a first-of-a-kind production unit after
site selection to be completed in 2022
Regulatory News:
Carbios (Paris:ALCRB) (Euronext Growth Paris: ALCRB), a
company pioneering new enzymatic solutions to reinvent the
lifecycle of plastic and textile polymers, announced that a
non-exclusive and non-binding Expression Of Intent agreement was
signed with a significant PET producer on April 15th, 2021.
With this additional agreement, as announced on April 6th,
20211, Carbios confirms its plan to build a first-of-a-kind 100%
PET recycling production unit using its enzymatic technology (the
“Unit”). The company will carry out ongoing studies to select the
most suitable site, technically and economically, to build this
first industrial and commercial Unit.
Within this agreement, Carbios and the PET producer are
considering the opportunity to build the Unit on one of the PET
producer’s sites.
Carbios’ first industrial Unit is expected to allow for an
annual production of approximately 40,000 tons of recycled PET,
with the first revenues to be generated in 2025. It will also
strengthen Carbios’ business model, which is focused on the
licensing of its technologies, know-how and the sale of enzymes to
its licensees, who will build their own PET recycling production
units.
“We are delighted to be engaged in strategic discussions with
this important PET producer. The building of this first-of-a-kind
100% PET recycling facility is a major step in Carbios’
development,” said Martin Stephan, Carbios’ Deputy CEO.
About Carbios:
Carbios, a green chemistry company, develops biological and
innovative processes to revolutionize 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 energy 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, in which Carbios now holds a majority stake alongside the
SPI fund operated by Bpifrance.
For more information, please visit https://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.
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.
________________
1 Cf. April 6 2021 press release
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210425005023/en/
Carbios Agnès Mathé Communication Department
contact@Carbios.fr +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@rooneyco.com +1 212 223 0561
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