- The simultaneous acquisition of the building permit and
operating authorization allows construction work to start as
planned for the plant's commissioning in 2025
- The building permit was obtained in 10 months (the average
duration in France is 17 months)
- In September, Carbios and Indorama Ventures signed the sales
agreement for the land to be purchased by Carbios and on which the
plant will be built
- Once fully operational, the plant will have a processing
capacity of 50,000 tons of PET waste and will create 150 jobs
Regulatory News:
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231025760921/en/
Emmanuel Ladent, Carbios CEO (third from
left) and Mr Toudma, Mayor of Longlaville (second from right) with
members of the Carbios team at the Nancy Prefecture (54). (Photo:
Carbios)
Carbios, (Euronext Growth Paris: ALCRB) (Paris:ALCRB), a pioneer
in the development and industrialization of biological technologies
to reinvent the life cycle of plastic and textiles, announces that
it has been granted the building permit and operating authorization
for the world's first PET1 biorecycling plant, allowing
construction to start. The plant will be built in Longlaville (54)
in the Grand-Est Region on a 13.7-hectare site adjacent to the
existing PET production plant of Indorama Ventures, its strategic
partner. This state-of-the-art facility, scheduled for
commissioning in 2025, will play a crucial role in the fight
against plastic pollution by providing an industrial-scale
enzymatic recycling solution for PET waste. Carbios' technology
enables PET circularity and offers an alternative raw material to
virgin fossil-based monomers, allowing PET producers, chemical
companies, waste management firms, public entities, and brands to
have an effective solution to meet regulatory requirements and
fulfill their sustainability commitments. The plant will have a
processing capacity of 50,000 tons of post-consumer PET waste per
year (mostly waste that is non-recyclable mechanically, equivalent
to 2 billion colored PET bottles or 2.5 billion PET food trays) and
will generate 150 direct and indirect jobs in the region.
Emmanuel Ladent, CEO of Carbios: "Everything is now in
place so that construction of our plant can officially begin! We
obtained the permits in line with the announced schedule, and we
are eager to deliver a facility of great local and international
significance for a circular economy of plastic. We would like to
thank the French State and the Municipality of Longlaville for
their support throughout the administrative procedure and for their
commitment in issuing the operating and building permits in 10
months."
Lionel Arras, Director of Industrial Development: "I am
very proud of the Carbios teams who have reached this critical
milestone in this significant project. With more than 80 engineers
involved, both internally and externally, it is a tremendous team
effort with our goal of commissioning in 2025 on track."
Construction progress according to schedule
On 28 September 2023, Françoise Souliman, Prefect of
Meurthe-et-Moselle, issued the environmental operating permit,
followed by the building permit on 24 October 2023 by Mr. Hamdi
Toudma, Mayor of Longlaville. These permits were obtained after an
administrative procedure, including public consultation, which
evaluated the site's future impacts on water resources and aquatic
environment protection, energy consumption, landscape integration,
traffic, etc.
Carbios submitted the authorization requests to local
authorities last December. Construction of the plant can start
before the end of this year for commissioning in 2025.
Carbios acquires Indorama Ventures' land
The plant will be built on a 13.7-hectare site acquired by
Carbios on Indorama Ventures' existing PET plant site without
suspensive conditions2. The land area gives the possibility to
double the facility's capacity.
A plant designed to minimize its carbon footprint
The plant is designed to maximize circularity, with high-quality
output products, and minimize its environmental footprint,
especially with regards to energy consumption. Optimizations are
underway to further increase the recycling of water required for
the process.
Located near the borders with Belgium, Germany, and Luxembourg,
the plant's location is strategic for nearby waste supply.
Moreover, Carbios' biorecycling technology can process complex
waste that conventional technologies cannot recycle and produce
food-grade products, enhancing the plant's flexibility for waste
supply. Carbios and Indorama Ventures will collaborate to ensure
the feedstock supply of the Longlaville plant, located in a
geographical area where the supply potential could reach 400,000
tons in 2023, and up to 500,000 tons in 2030 with improved
selective collection.
Carbios has already secured an initial supply source by winning
part of the CITEO tender for the biorecycling of multilayer food
trays. The consortium composed of Carbios, Wellman (a subsidiary of
Indorama Ventures), and Valorplast has been selected to handle 30%
of the tonnage proposed by CITEO. Carbios will handle the portion
of the flow consisting of multilayer food trays at its Longlaville
plant starting in 2025.
Plant funding secured
In July 2023, Carbios successfully completed its capital
increase for approximately €141 million, the largest capital
increase on Euronext Growth since 2015. This amount is mainly
intended to finance the construction of this plant, for which the
total investment is estimated at around €230 million. The portion
of the investment not funded by the proceeds from the July 2023
capital increase is expected to be covered by Indorama Ventures,
which plans to mobilize approximately €110 million for this
project, French state subsidies of €30 million, and €12.5 million3
from the Grand-Est Region, as well as a portion of Carbios Group's
available cash, which amounted to €78 million as of 30 June
2023.
###
About Carbios:
Carbios is a biotech company developing and industrializing
biological solutions to reinvent the life cycle of plastic and
textiles. Inspired by nature, Carbios develops enzyme-based
processes to break down plastic with a mission to avoid plastic and
textile pollution, and accelerate the transition to a circular
economy. Its two disruptive technologies for the biorecycling of
PET and the biodegradation of PLA are reaching industrial and
commercial scale. Its biorecycling demonstration plant has been
operational since 2021 and a first industrial plant, in partnership
with Indorama Ventures, is due to be commissioned in 2025. Carbios
has received scientific recognition, notably with the cover of
Nature, and is supported by prestigious brands in the cosmetics,
Food & Beverage and apparel industries to enhance their
products’ recyclability and circularity. Nestlé Waters, PepsiCo and
Suntory Beverage & Food Europe are members of a packaging
consortium founded by Carbios and L’Oréal. On, Patagonia, PUMA, PVH
Corp. and Salomon collaborate with Carbios in a textile
consortium.
Visit www.carbios.com/en to find out more about biotechnology
powering plastic and textile circularity. Twitter: Carbios /
LinkedIn: Carbios / Instagram: insidecarbios
Information on Carbios shares: ISIN Code
FR0011648716 Ticker Code Euronext Growth: ALCRB LEI:
969500M2RCIWO4NO5F08
Carbios, founded in 2011 by Truffle Capital, is eligible for the
PEA-PME, a government program allowing French residents investing
in SMEs to benefit from income tax rebates.
This press release and the information contained herein do not
constitute an offer to sell or a solicitation of an offer to buy or
subscribe to shares in Carbios in any country.
Disclaimer on forward-looking statements and risk
factors:
This press release contains forward-looking statements, not
historical data, and should not be construed as a guarantee that
the facts and data stated will occur. These forward-looking
statements are based on data, assumptions and estimates considered
reasonable by Carbios. Carbios operates in a competitive and
rapidly evolving environment. It is therefore not in a position to
anticipate all risks, uncertainties or other factors that may
affect its business, their potential impact on its business or the
extent to which the materialization of a risk or combination of
risks could lead to results that differ significantly from those
mentioned in any forward-looking statement. Carbios draws your
attention to the fact that forward-looking statements are in no way
a guarantee of its future performance and that its actual financial
position, results and cash flows and the development of the sector
in which Carbios operates may differ significantly from those
proposed or suggested by the forward-looking statements contained
in this document. In addition, even if Carbios’ financial position,
results, cash flows and developments in the industry in which it
operates are consistent with the forward-looking information
contained in this document, such results or developments may not be
a reliable indication of Carbios’ future results or developments.
Readers are advised to carefully consider the risk factors
described in the Universal registration document filed with the
French Market Authority (“AMF”), as well as in the half-year
financial report available free of charge on the Company’s website.
Should all or any part of these risk factors materialize or others,
in no case whatsoever will Carbios be liable to anyone for any
decision made or action taken in conjunction with the information
and/or statements in this press release or for any related damages.
This information is given only as of the date of this press
release. Carbios makes no commitment to publish updates to this
information or on the assumptions on which it is based, except in
accordance with any legal or regulatory obligation applicable to
it.
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 PET = polyethylene terephthalate 2Oher than the right of first
refusal of the communes concerned and the absence of opposition to
the division of land required for the sale 3Implementation of this
funding is conditional on approval by the European Commission of
the corresponding state aid scheme, followed by the conclusion of
national aid agreements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231025760921/en/
CARBIOS Melissa Flauraud Press Relations
melissa.flauraud@carbios.com +33 (0)6 30 26 50 04
Benjamin Audebert Investor Relations contact@carbios.com
+33 (0)4 73 86 51 76
Press Relations (France) Iconic Marie-Virginie
Klein mvk@iconic-conseil.com +33 (0)1 44 14 99 96
Press Relations (U.S.) Rooney Partners Kate L.
Barrette kbarrette@rooneyco.com +1 212 223 0561
Press Relations (DACH & UK) MC Services Anne
Hennecke carbios@mc-services.eu +49 (0)211 529 252 22
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