January 8, 2025 13:32

The French company Carbios has announced a six- to nine-month delay in the construction of its first industrial plant for PET biorecycling via enzymatic depolymerization.
The foundation stone for the plant was laid last spring in Longlaville, France, at the Indorama Ventures site, a partner in the project.

According to the company, the delay is due to pending additional financing under favorable terms. Carbios clarified that the project is not being canceled but merely postponed. This decision allows Carbios to slow the pace of project expenditure while continuing commercial negotiations without liquidity pressures, the company explained.

While discussions with Indorama Ventures regarding plant financing are ongoing, Carbios has also opened dialogues with other private and public financial institutions that could provide funds under advantageous conditions. Additionally, the French government has confirmed its willingness to support debt coverage of €86 million under the GPS (Strategic Projects Guarantee) program managed by Bpifrance. This program supports projects of strategic importance to France.
Carbios has already secured €30 million in non-dilutive funding under the France 2030 initiative and a commitment of €12.5 million from the Grand Est Region.

In parallel, the company announced the end of Emmanuel Ladent's tenure as CEO. Until a successor is appointed, Philippe Pouletty, the company's founder, will serve ad interim CEO.

The enzymatic biorecycling process developed by Carbios depolymerizes PET and polyester fibers, breaking them down into their original components—terephthalic acid and monoethylene glycol. After purification, these materials can be reused to produce virgin-quality polyester, which remains recyclable at the end of its life cycle.

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