Global Bioenergies has received letters of intent for its plant project corresponding to forecasted annual sales of over €70 million

PRESS RELEASE

Global Bioenergies has received letters of intent for its
plant project corresponding to forecasted annual sales
of over €70 million

• The plant will focus on high added-value cosmetics markets, with annual production capacity rescaled to 2,500 tons
• The total volume of letters of intent exceeds the plant's production capacity
• The plant will also enable to initiate the sustainable aviation fuels market
• CAPEX and plant design specifications clarified

Evry, 08 April 2024 – 5:45 pm CEST: Global Bioenergies (FR0011052257 - ALGBE), a player in industrial biology, announces that it has received letters of intent representing more than 2,500 tons of Isonaturane per year from renowned cosmetics players based in several regions of the World. These purchase intentions represent annual revenue of over €70 million.

Commercial aspect:

This plant, mainly dedicated to cosmetics, will be commissioned during 2027 and will market Isonaturane 12 and 16, the first natural-origin equivalents to petroleum-based isododecane and isohexadecane. This new industrial facility has been resized to 2,500 tons of isobutene derivatives per year in order to focus on the most profitable markets: make-up and prestige skincare products.

Marc Delcourt, Co-founder and Chief Executive Officer of Global Bioenergies, explains:

"Initially, we aimed at increasing the plant's capacity to 10,000 tons, which required targeting markets such as make-up removers or deodorants. These mass markets demand large volumes at low costs, which would have inevitably driven down our selling prices. By limiting the size of the plant, we are reducing the amount of CAPEX required to build it, and we are targeting markets willing to pay full price for naturalness. The plant's economic profile maintains its margin prospects while reducing the investment required, with purchasing intentions now exceeding the plant's capacity and projected annual sales of over €70 million.”

In addition to cosmetics, the plant is intended to initiate the Sustainable Aviation Fuels (SAF) market, since the same technology can be used to produce a formulation perfectly usable as aviation fuel, in blends of up to 50% with fossil kerosene. As a reminder, the Company's process is one of the few technologies in the world to benefit from the necessary ASTM¹ certification, and the Company plans to deploy its process on a large scale in the aviation sector starting from the market opening in 2030, when the threshold for incorporating SAF into kerosene will rise to 6% in the European Union.