Carbios, the company pioneering new enzymatic solutions to reinvent the lifecycle of plastic and textile polymers, announces today plan to build a first of a kind 100% PET recycling production unit exploiting its technology (the “Unit”).
This Unit is expected to enable an annual production of 40.000 tonnes of recycled PET. It will also strengthen the Company’s business model which will remain the licensing of its technologies and know-how and the sale of enzymes to its licensees, who will build their own PET recycling production units.
The key steps for the building of the Unit are the following:
- September 2021: Start-up of Carbios PET demonstration facility in Clermont Ferrand, as expected, which will allow to generate process data for the design of the Unit;
- 2021 - 2022: engineering studies and site selection for the Unit;
- End 2022: beginning of the construction of the Unit;
- End 2024: Start-up of the Unit; and
- 2025: First revenues generated from the Unit.
Under this framework, Carbios announces the signature on March 18th, 2021 of a non-exclusive and non-binding Expression Of Intent agreement with Equipolymers, leading European PET producer, which could host the Unit on its production facilities located in Schkopau (Germany) (the “Agreement”). Equipolymers is a subsidiary of EQUATE Petrochemical Company.
The objective of this Agreement is to bring together Carbios’ unique biorecycling technology and Equipolymers world class PET manufacturing and R&D know-how in the field of chemical recycling. It will allow Carbios’ technology to rapidly transform the plastic market and fully capitalize on Carbios’ unique leadership in this industry.
The Agreement foresees notably:
- An assistance in securing the sourcing of PET wastes for the Unit;
- A mutual access to data coming from Carbios’s demonstration plant and the biorecycling technology and from Equipolymers facilities.
The estimated cost of the Unit amounts to around 100 million euros. Carbios has already started to explore various financing options.
“In the unprecedented time we have experienced, I am proud of the significant progress made in 2020. Thanks to the commitment of our employees and the many challenges they have faced, we have succeeded in accelerating the development of our pipeline of technologies and in consolidating our position as world leader in the field of enzymatic recycling and biodegradation of plastics and fibers. We also signed a new structuring agreement with Novozymes to develop the production of our enzymes dedicated to the recycling of PET. 2020, was also marked by a major international recognition with the publication of an article co-authored by Carbios scientists and our partner TBI1 in the prestigious scientific journal Nature, and by the extension of our recycling technology to PET polyester fibers. In line with our objectives, we will pursue the implementation of our strategy for the industrialization of our breakthrough technologies. 2021 will therefore be a particularly structuring year for Carbios. In September, we will start operating the first industrial demonstration plant for the enzymatic recycling of PET a site made available by the Michelin Group in Clermont-Ferrand, France, which would support the objective to set up with our partner the construction of a PET first of a kind production facility by 2024. Supported by the growing appetite of industrial players for our technologies, we are confident in our ability to create long-term value for our shareholders and all the stakeholders involved in the development of our ground-breaking solutions based on circular economy,” comments Jean-Claude Lumaret, CEO of Carbios.
2020 ANNUAL RESULTS
– Carbios announces as well its operating and financial results for the year 2020. The financial statements as of December 31st, 2020 were approved by the Company’s Board of Directors at their meeting on March 31st, 2021 and audited by the Statutory Auditors whose certification reports are being issued.
HIGHLIGHTS OF THE 2020 FINANCIAL YEAR AND POST-CLOSING EVENTS
R&D
- Publication of an article co-authored by Carbios and TBI1 in the prestigious scientific journal Nature
- Creation of a collaborative enzyme engineering research center of international scale on plastic recycling and biosynthesis
Enzymatic recycling of PET-based plastics and fibers
- Joint-Development Agreement with the world leader in enzyme production Novozymes
- Launch of the construction of an industrial demonstration plant for the enzymatic recycling of PET-based plastics and fibers
- Extension of Carbios recycling process to PET-based polyester fibers
Carbiolice2
- Carbiolice: commercial launch of Evanesto® at the end of 2020 (enzymatic biodegradation of PLA based single-use plastics)
- Acquisition of Limagrain Ingredients entire stake in the capital of Carbiolice
- Evanesto® granted with the Efficient Solution label by the Solar Impulse Foundation
Intellectual Property
- 11 patents granted in 2020 including seven in the United States
Finance
- Successful capital increase of 27 million euros with French and international institutional investors (July 2020)
- Cash position of €29 million as of December 31, 2020
