Carbios and Indorama Ventures partner for bio-recycled PET in France

The goal is to build and operate the world’s first industrial-scale enzymatic PET bio-recycling plant, with a processing capacity estimated at ca. 50.000 tonnes of post-consumer PET waste per year, equivalent to 2 billion PET bottles or 2.5 billion PET trays.

Following the positive results of Indorama Ventures’ initial analysis on the technical soundness of Carbios’ technology over the past several months, both parties agreed to complete a due diligence process. A feasibility study will be conducted for the industrialization of Carbios’ technology on Indorama Ventures’ French production site (Longlaville, Meurthe-et-Moselle). Subject to the successful completion of these technical and economical evaluations, Indorama Ventures would co-invest in the project.

The capital investment required for the project is expected to be around EUR 150 million for Carbios core technology, including in particular an additional purification step, which has been integrated into the process. In addition, an estimated EUR 50 million investment will be allocated for the infrastructure preparation of the site. The project is expected to create approximatively 150 direct and indirect full-time jobs. In the coming months, Carbios expects to finalize a strong non-dilutive financial support from French Government and from the Grand-Est Region, based on the offer received last week by Carbios, from the Minister of Industry, Agnès Pannier-Runacher and the President of Grand-Est Region, Jean Rottner.

“Contributing to a cleaner planet while creating new jobs and economic value is our core mission,” said Rottner, ”Hence, we are very pleased to welcome Carbios in Grand-Est Region and very proud to greet Longlaville site selection for their world-first 100% bio-recycled PET plant, in partnership with Indorama Ventures, already present and very active in our Region.”

This financial support will be conditional on the notification to the European Commission and on contractualization by French authorities. Carbios announced in its half-year results on the 30th September 2021 a cash position of EUR 112 million. Since then, Carbios has also secured a EUR 30 million loan from EIB.
This collaboration reflects both parties’ ambition to address the growing concern of plastics pollution through the development of Carbios’ enzymatic bio-recycling process. This disruptive technology could accelerate the transition to a plastics Circular Economy.

“With this first medium-sized plant, we want to become the world reference for the Circular Economy of plastics and textiles,” said Emmanuel Ladent, Chief Executive Officer of Carbios, “This plant will pave the way towards international commercial and industrial deployment.”

With its world-first enzyme-based biological process, Carbios’ technology, named C-ZYME^™, converts PET (the dominant polymer in bottles, trays and textiles made of polyester) into its core monomers, which can then be used to manufacture 100 % recycled and infinitely recyclable PET. This first-of-a-kind manufacturing plant combines Carbios’ science and technology with Indorama Ventures’ world-class manufacturing capabilities. This collaboration will meet the growing needs of both demanding consumers and large consumer goods companies including Carbios’ partners and shareholders (L’Oréal, Michelin, L’Occitane, Nestlé Waters, PepsiCo, Suntory Beverage & Food Europe) for more sustainable packaging. AT

https://www.indoramaventures.com 
https://www.carbios.com