CARBIOS, a company engaged in the field of bioplasturgy, and Toulouse White Biotechnology (TWB) have announce €7.5 million of funding from the Investments for the Future Program operated by ADEME to support, over a period of 39 months, the scale-up of the Company’s industrial and commercial PET plastics and fibers biorecycling project.
PET is one of the most common polymers on the market. It is used to make everyday consumer goods such as bottles, packaging and fibers especially for clothing. 70 million tons of PET are produced each year from fossil resources. Since 2012, CARBIOS develops a world pioneering process enabling to produce new virgin plastics from waste plastics according circular economy principles.
The €7.5 million funding has been granted by the General Secretariat for Investments (SGPI) as part of the Investments for the Future Program operated by ADEME for circular economy projects. This funding, which comes in the form of grants and conditional advances, will be paid in several instalments over the period of this CE-PET project and includes a first payment of 15%.
CARBIOS, coordinator and lead manager of the project, will oversee the acceleration of the industrialization of its PET plastics and fibers technology, and will be able to receive up to €4.1million.
Jean-Claude LUMARET, CEO of CARBIOS comments: « We would like to thank the French environment and energy management agency for its renewed confidence in the innovations developed by CARBIOS. This funding represents an important step that will allow us to accelerate the industrialization of our technology.”
For Pierre MONSAN, Founder of TWB: “We are very proud of the scientific milestones achieved through this collaboration between CARBIOS and TWB. Our partnership has led to the emergence of new sustainable and eco-friendly solutions to the management of plastics lifecycle. This funding highlights the commitment of French public authorities to make possible the industrial development of innovative processes that can become key alternatives to conventional chemistry.”
Source: Company Press Release.