(MENAFN- GlobeNewsWire - Nasdaq) A significant step towards the payment to CARBIOS of grant subsidies validated by ADEME and the Grand Est Region, totalling €42.5m, for the construction of the CARBIOS Longlaville biorecycling plant in France CARBIOS has reaffirmed its objective of building its PET biorecycling plant in Longlaville once the additional public and private financing, in particular non-dilutive financing, has been secured
Clermont-Ferrand (France), 6 February 2025 (18:30 CET). CARBIOS, (Euronext Growth Paris : ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, is pleased that the European Commission has authorised the 'Circular Economy' State aid scheme .
This aid scheme, notified by France, is to support the chemical recycling of plastic waste. It is designed to promote investments in technologies for transforming plastic waste into new raw materials while reducing the industry's carbon footprint.
A positive step towards the payment of grant subsidies to CARBIOS for the construction of the Longlaville biorecycling plant, as part of the overall public and private funding
This approval paves the way to effective payment of the subsidies, totalling €42.5 million, for CARBIOS Longlaville plant.
CARBIOS was selected by the French government to receive non-dilutive funding of €30 million under the France 2030 national 'Plastics Recycling' call for projects operated by ADEME, as well as €12.5 million from the Grand-Est Region . The implementation of this funding was conditional upon the European Commission's approval of the 'Circular Economy' State aid program.
The authorisation granted by the European Commission should enable the final contractual agreements with the Grand Est Region and ADEME to be signed and the grant obtained to be implemented. At the same time, CARBIOS is continuing its discussions with private and public financial institutions likely to provide addtional financing for the project under favorable conditions.
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About CARBIOS:
CARBIOS is a biotech company developing and industrializing biological solutions to reinvent the life cycle of plastic and textiles. Inspired by nature, CARBIOS develops enzyme-based processes to break down plastic with a mission to avoid plastic and textile pollution and accelerate the transition to a circular economy. Its two disruptive technologies for the biorecycling of PET and the biodegradation of PLA are reaching industrial and commercial scale. Its biorecycling demonstration plant has been operational since 2021 and construction work of the world's first industrial biorecycling plant is expected to restart between June and September 2025, subject to the necessary additional funding. CARBIOS, founded by Truffle Capital, has received scientific recognition, notably with the cover of Nature and a second article published by Nature, and is supported by prestigious brands in the cosmetics, Food & Beverage and apparel industries to enhance their products' recyclability and circularity. Nestlé Waters, PepsiCo and Suntory Beverage & Food Europe are members of a packaging consortium founded by CARBIOS and L'Oréal. On, Patagonia, PUMA, PVH Corp. and Salomon collaborate with CARBIOS in a textile consortium.
Visit to find out more about biotechnology powering plastic and textile circularity.
LinkedIn: CARBIOS / Instagram: insideCARBIOS
Information on CARBIOS shares:
ISIN Code : FR0011648716
Ticker Code : Euronext Growth: ALCRB
LEI : 969500M2RCIWO4NO5F08
CARBIOS, founded in 2011 by Truffle Capital, is eligible for the PEA-PME, a government program allowing French residents investing in SMEs to benefit from income tax rebates.
Disclaimer on forward-looking statements and risk factors:
This press release contains forward-looking statements, not historical data, and should not be construed as a guarantee that the facts and data stated will occur. These forward-looking statements are based on data, assumptions and estimates considered reasonable by CARBIOS. CARBIOS operates in a competitive and rapidly evolving environment. It is therefore not in a position to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the materialization of a risk or combination of risks could lead to results that differ significantly from those mentioned in any forward-looking statement. Political, economic and budgetary uncertainties in France and Europe may affect the schedule for actual grant payments. CARBIOS draws your attention to the fact that forward-looking statements are in no way a guarantee of its future performance and that its actual financial position, results, cash flows, its partnerships and corporate agreements, and the development of the sector in which CARBIOS operates may differ significantly from those proposed or suggested by the forward-looking statements contained in this document. In addition, even if CARBIOS' financial position, results, cash flows, its partnerships and corporate agreements, and developments in the industry in which it operates are consistent with the forward-looking information contained in this document, such results or developments may not be a reliable indication of CARBIOS' future results or developments. Readers are also advised to carefully consider the risk factors described in the Universal registration document filed with the French Market Authority (“AMF”), as well as in the half-year financial report available free of charge on the Company's website. Should all or any part of these risk factors occur or others, in no case whatsoever will CARBIOS be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. This information is given only as of the date of this press release. CARBIOS makes no commitment to publish updates to this information or on the assumptions on which it is based, except in accordance with any legal or regulatory obligation applicable to it.
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Translation is for information purposes only.
In case of discrepancy between the French and the English version of this press release, the French version shall prevail.
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