Carbios Enters Joint Development Agreement With Novozymes to Produce Its Proprietary Enzyme for Complete Recycling of PET-plastics and Fibers | Financial Buzz

Carbios Enters Joint Development Agreement With Novozymes to Produce Its Proprietary Enzyme for Complete Recycling of PET-plastics and Fibers

Regulatory News:

CARBIOS (Euronext Growth Paris: ALCRB), a company pioneering new bio-industrial solutions to reinvent the lifecycle of plastic and textile polymers, announced today an exclusive partnership (Joint Development Agreement) with leading biological solutions company, Novozymes. This agreement secures the production of Carbios’ proprietary PET-degrading enzymes at both a demonstration level and an industrial scale. The agreement also represents a critical step for Carbios in demonstrating the positive environmental impact of its technology and ensures it can provide its future customers with a sustainable solution for the infinite recycling of PET-based products, such as water and soda bottles, plastic packaging and textiles.

Jean-Claude Lumaret, CEO of CARBIOS, said: “Many years ago we envisioned the great potential of enzymes to bring PET-based plastics and fibers into the circular economy. Following a first partnership on PLA biodegradation with Novozymes that began in January 20191, today’s agreement on PET recycling reinforces our collaboration. It also demonstrates the trust that the world’s largest provider of enzyme technologies has placed in Carbios. We are proud to share this common ambition to preserve the planet’s resources and to work together with Novozymes, to help build a more sustainable world.”

Jens Kolind, VP Household Care Global Marketing at Novozymes adds: “At Novozymes, we help bring biological answers to many of the global challenges we face today. We are happy to expand our collaboration with Carbios where we work together on finding biological solutions to address the significant sustainability challenge of plastic pollution.”

Carbios has developed a biology-based solution which uses enzymes to break down widely used PET plastics and fibers. Unlike the limited recycling potential of mechanical processes, Carbios’ approach gives new value to plastic, preventing post-consumer plastics from manifesting as waste. Transforming the way plastics are produced and safely recycled requires unprecedented levels of innovation and collaboration. This agreement with Novozymes, along with the support and vision of Carbios’ consumer brand Consortium2, which includes L’Oréal, Nestlé Waters, PepsiCo and Suntory Beverage & Food Europe, brings the company’s patented solution one step further towards industrial and commercial reality.

Drawing on the company’s proprietary enhanced recycling technology and the extensive experience of its partners, Carbios will launch the construction of a demonstration plant for the recycling of PET-based plastics and polyester fibers in 2020. The first operations are expected to begin in 2021, prior to a large-scale industrial deployment.

About Carbios:

Carbios is a green chemistry company whose innovations help address the environmental and sustainable development challenges facing manufacturers. Since its creation in 2011 by Truffle Capital, the Company has developed, through biotechnology, two industrial processes that revolutionize the biodegradation and recycling of polymers. These innovations, 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 and/or enzymes, technologies and bioprocesses through license concessions directly or through joint ventures to major industrial players or sectors concerned by the Company’s innovations. As such, Carbios created the joint venture Carbiolice in September 2016, in partnership with Limagrain Ingredients and the SPI fund operated by Bpifrance. This company, of which Carbios has majority control, will exploit the first technology licensed by Carbios by producing enzymatic granules for the production of biodegradable and biobased plastics.

Carbios benefits from the qualification “Innovative Company” of Bpifrance allowing the eligibility of the Company’s securities for the investment of Mutual Funds Placement in Innovation (FCPI). 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.

This press release does not constitute and cannot be regarded as constituting an offer to the public, an offer to sell or a subscription offer or as a solicitation to solicit a buy or sell order in any country.

Translation for information purposes only. In case of discrepancy between the French and the English version of this press release, the French version shall prevail.

 


1Cf. press release dated January 29, 2019
2Cf. press release dated April 29, 2019