- Significant PET producercould host a 100% PET recycling production unit usingCarbios’ 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
Carbios (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 mostsuitable site, technically and economically, to build this first industrial and commercial Unit.
Within this agreement, Carbios and the PET producer areconsidering the opportunity to build the Uniton one of the PET producer’s sites. Carbios’ first industrial Unit is expected to allowfor 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 onthe 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 PETproducer. The building of this first-of-a-kind 100% PET recycling facility is amajor step in Carbios’ development,” said Martin Stephan, Carbios’Deputy CEO.
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, Carbiosaims 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 Carbiosis 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 Carbiosnow holds a majority stake alongside the SPI fund operated by Bpifrance.