Carbios Receives € 1.4m From ADEME Following the Success of the First Milestone of Its CE-PET Research Project
CARBIOS (Euronext Growth Paris: ALCRB) (Paris:ALCRB), a company pioneering new bio-industrial solutions to reinvent the lifecycle of plastic and textile polymers, announced the confirmed success of a key stage of the CE-PET1 project and as a result, that it has received a total amount of 1.4 million euros2 from the Investments for the Future Program (PIA) operated by ADEME (France’s Agency of the Environment and Energy Management).is a green chemistry company whose innovations meet 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 life cycle 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.
1 : Circular Economy-PolyEthylene Terephthalate.
2 : Of which € 0.6 million was paid in the first half of 2019.
3 : Cf Press release of February 27, 2019.