France – Carbios and Indorama Ventures intend to collaborate on the construction of a manufacturing plant in France that will use Carbios’ PET bio-recycling technology.
Carbios is partnering with Indorama Ventures to take the next step towards industrialization and commercialization after successfully launching its demonstration plant in Clermont-Ferrand. The goal is to construct and operate the world’s first industrial-scale enzymatic PET bio-recycling plant in France, with a processing capacity of approximately 50.000 tons of post-consumer PET waste per year, or 2 billion PET bottles or 2.5 billion PET trays.
Both parties agreed to complete a due diligence process after the positive results of Indorama Ventures’ initial analysis of Carbios’ technology over the past several months. On Indorama Ventures’ French production site, a feasibility study for the industrialization of Carbios’ technology will be conducted. Indorama Ventures would co-invest in the project if these technical and economic evaluations were completed successfully.
Carbios core technology, which includes an additional purification step that has been integrated into the process, is expected to require a capital investment of around €150 million for the project. Additionally, an estimated €50 million will be invested in the site’s infrastructure preparation. Around 150 full-time jobs are expected to be created directly and indirectly as a result of the project. Based on the offer received by Carbios from the Minister of Industry, Agnès Pannier-Runacher, and the President of the Grand-Est Region, Jean Rottner, Carbios expects to finalize a strong non-dilutive financial support from the French Government and the Grand-Est Region in the coming months.
This financial assistance is contingent on notification to the European Commission and contracting by French authorities. This collaboration reflects both parties’ desire to develop Carbios’ enzymatic bio-recycling process in order to address the growing concern of plastic pollution. This game-changing technology has the potential to hasten the transition to a circular economy based on plastics.
Carbios’ C-ZYME technology, which is based on an enzyme-based biological process, converts PET into its core monomers, which can then be used to manufacture 100% recycled and infinitely recyclable PET. Carbios’ science and technology are combined with Indorama Ventures’ world-class manufacturing capabilities in this one-of-a-kind manufacturing plant. This collaboration will meet the growing demand for more sustainable packaging among both demanding consumers and large consumer goods companies, including Carbios’ partners and shareholders.