Carbios receives € 1.4M from ADEME following the success of the first milestone of its CE-PET research project
Clermont-Ferrand, France, December 3rd, 2019 (06:45 AM CET) – CARBIOS (Euronext Growth Paris: ALCRB), a company pioneering new bio-industrial solutions to reinvent the lifecycle of plastic and textile polymers, announced the confirmed success of a key stage of the CE-PET project and as a result, that it has received a total amount of 1.4 million euros from the Investments for the Future Program (PIA) operated by ADEME (France’s Agency of the Environment and Energy Management).
The CE-PET project, led by Carbios, aims to accelerate the ramp-up of the Company’s industrial and commercial project in the bio recycling of plastic waste and PET fibers. To this end, Carbios and its academic partner TWB are working on the development of new enzymes whose activity, thermostability and adsorption on the polymer will be improved to ensure the best possible productivity of the depolymerization stage and fully adapt the process of enzymatic recycling to PET polyester fibers. As part of this project, Carbios is also focusing on optimizing at pilot stage the pre-treatment stages of waste (plastics and textiles), depolymerization and monomer purification. This first step made it possible to demonstrate the circularity of the process, with the production of the first PET bottles from Carbios’ enzymatic recycling technology.
Following the provisional schedule, all the deliverables for the first milestone were obtained. The piloting of the enzymatic recycling process carried out on plastic PET waste has made it possible to establish the specifications of the engineering works of the industrial demonstrator, the construction of which must start at the beginning of 2020. Besides, the development of the process on high-grade textile waste in PET has demonstrated depolymerization levels equivalent to those obtained on plastic waste.
Jean-Claude Lumaret, CEO of Carbios comments: « *This milestone confirms the relevance and effectiveness of our collaborative approach with the National Institute of Applied Sciences of Toulouse (INSA) and Toulouse White Biotechnology (TWB)/ the Toulouse Biotechnology Institute laboratory. We are eager to translate these developments into our future demonstration plant and make this innovation an industrial reality. *»
: Circular Economy-PolyEthylene Terephthalate.
: Of which € 0.6 million was paid in the first half of 2019.
: Cf Press release of February 27, 2019.
About CARBIOS CARBIOS is a green chemistry company whose innovations are designed to meet environmental and sustainable development issues faced by global industrial players. Since its creation in 2011, CARBIOS has developed two industrial bioprocesses dedicated to the biodegradation and the biorecycling of polymers. These innovations, which are a world first, optimize the performance and lifecycle of plastics and textiles by exploiting the properties of highly specific enzymes.
CARBIOS’ economic development model is based on the industrialization and commercialization of its products, enzymes, technologies, and bioprocesses via the concession of licenses, directly or via joint ventures to major industrial players in the sectors that can make use of the Company’s innovative technologies. For instance, CARBIOS created in September 2016 the joint-venture CARBIOLICE, in partnership with Limagrain Ingrédients and the SPI investment fund run by Bpifrance. This company, in which CARBIOS holds a controlling share, will market the first technology licensed by CARBIOS by producing an enzymatic additive making PLA-based plastics (films, bags, packaging) fully compostable in domestic conditions.
Since its creation, CARBIOS benefits from the financial support of the leading European venture capital firm Truffle Capital. CARBIOS was granted the label “Young Innovative Company” by Bpifrance (former OSEO) and is eligible for investments by private equity 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.