Global Bioenergies has received letters of intent for its plant project corresponding to forecasted annual sales of over €70 million
April 08 2024 - 11:45AM
Global Bioenergies has received letters of intent for its plant
project corresponding to forecasted annual sales of over €70
million
PRESS RELEASE
Global Bioenergies has received letters
of intent for itsplant project corresponding to
forecasted annual salesof over €70
million
- The plant
will focus on high added-value cosmetics markets, with annual
production capacity rescaled to 2,500 tons
- The total
volume of letters of intent exceeds the plant's production
capacity
- The plant
will also enable to initiate the sustainable aviation fuels
market
- CAPEX and
plant design specifications clarified
Evry, 08 April 2024 – 5:45 pm
CEST: Global Bioenergies (FR0011052257 - ALGBE), a player
in industrial biology, announces that it has received letters of
intent representing more than 2,500 tons of Isonaturane™ per year
from renowned cosmetics players based in several regions of the
World. These purchase intentions represent annual revenue of over
€70 million.
Commercial
aspect:
This plant, mainly dedicated to cosmetics, will
be commissioned during 2027 and will market Isonaturane™ 12 and 16,
the first natural-origin equivalents to petroleum-based isododecane
and isohexadecane. This new industrial facility has been resized to
2,500 tons of isobutene derivatives per year in order to focus on
the most profitable markets: make-up and prestige skincare
products.
Marc Delcourt, Co-founder and Chief
Executive Officer of Global Bioenergies, explains:
"Initially, we aimed at increasing the plant's
capacity to 10,000 tons, which required targeting markets such as
make-up removers or deodorants. These mass markets demand large
volumes at low costs, which would have inevitably driven down our
selling prices. By limiting the size of the plant, we are reducing
the amount of CAPEX required to build it, and we are targeting
markets willing to pay full price for naturalness. The plant's
economic profile maintains its margin prospects while reducing the
investment required, with purchasing intentions now exceeding the
plant's capacity and projected annual sales of over €70
million.”
In addition to cosmetics, the plant is intended
to initiate the Sustainable Aviation Fuels (SAF) market, since the
same technology can be used to produce a formulation perfectly
usable as aviation fuel, in blends of up to 50% with fossil
kerosene. As a reminder, the Company's process is one of the few
technologies in the world to benefit from the necessary ASTM1
certification, and the Company plans to deploy its process on a
large scale in the aviation sector starting from the market opening
in 2030, when the threshold for incorporating SAF into kerosene
will rise to 6% in the European Union.
Industrial
aspect:
Concurrently with commercial development and
under the supervision of Roland Desvignes, Industrial Director of
Global Bioenergies, the engineering teams have finalised the first
plant layouts. The plant will be divided into five zones: isobutene
production by fermentation, purification of isobutene, conversion
into isododecane and isohexadecane, effluent management and energy
management. Based on these layouts, the total construction cost of
the plant (including hazards) has been estimated at nearly €80
million. As a reminder, the French government had already announced
its support for the project at the end of 2023 with the allocation
of €16.4 million in public aid via the "First Plant" call for
projects conducted by Bpifrance as part of the France 2030
plan2.
The timetable for the design and construction of
the plant has also been specified. The so-called "basic
engineering" phase will be completed at the end of May 2024, and
will be followed by a "front end engineering design" phase in the
second half of 2024. This phase will define all the facilities to
be integrated on the selected site. A phase of detailed studies and
appraisal of permit applications will begin in early 2025. This
will be followed by the construction phase of the plant itself,
which will involve the main CAPEX outflows, and will be completed
in 2027.
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
GLOBAL BIOENERGIES+33 (0)1 64 98 20
50invest@global-bioenergies.com Follow our
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NewCap – Investor
relationsLouis-Victor DelouvrierAurélie
Manavarereglobalbioenergies@newcap.eu+33 (0)1 44 71 94 94
NewCap – Media relations Nicolas
Merigeauglobalbioenergies@newcap.eu+33 (0)1 44 71 94 98 |
1 See the press release dated 20 June 2023:
Global Bioenergies’ SAF technology receives ASTM certification2 See
the press release dated 04 October 2023: French government awards
Global Bioenergies €16.4 million to help fund construction of
the world’s first biosourced isobutene plant
- Global Bioenergies has received letters of intent for its plant
project corresponding to forecasted annual sales of over €70
million
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