Carbios Will Receive Grants Totaling €54 Million From French State via France 2030 and Grand-Est Region1 to Finance Construction of World's First PET Biorecycling Plant and Accelerate R&D Activities

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Carbios will receive grants totaling €54 million from French State via France 2030 and Grand-Est Region to finance construction of world's first PET biorecycling plant and accelerate R&D activities (Photo: Carbios)

Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development and industrialization of biological technologies for reinventing the life cycle of plastics and textiles, announces that its project has been selected by the French State for funding of €30 million from the French State as part of the investment plan France 2030, and €12.5 million from the Grand-Est Region. The implementation of this funding is conditional to the European Commission's approval of the corresponding state aid scheme, followed by the conclusion of national aid agreements. As part of the national call for projects on "Plastics Recycling" operated by ADEME², Carbios' project to finalize the industrialization of its unique PET biorecycling process has been selected. The reference plant in Longlaville in the Grand-Est region will be the world’s first PET biorecycling plant and is due for commissioning in 2025. This plant will make it possible to relocate to France the production of the two basic components of PET, PTA and MEG³, both derived from the Carbios process.

Carbios also announces that it has been granted total funding of €11.4 million from the French State as part of France 2030, of which €8.2 million directly for Carbios (€5 million in repayable advances) and €3.2 million for its academic partners INRAE⁴ , INSA⁵ and CNRS⁶ via the TWB⁷ and TBI⁸ joint service and research units. This funding will enable to continue its research into the optimization and continuous improvement of Carbios’ enzymatic technologies.

Christophe Béchu, French Minister for Ecological Transition and Territorial Cohesion : "Fighting plastic pollution is a global emergency that requires a drastic reduction in its use, but also an increase in its recycling. For many years, French public and private research teams have been working together to develop a new enzymatic recycling technology. By supporting the construction of Carbios first biorecycling plant in the world, France is proving that Carbios’ technology has now become an industrial reality, making it possible to recycle waste that was previously difficult to recycle.”