France-based plastic recycling technology provider Carbios says it has reacquired the 37 percent stake in its Carbiolice Capital business unit formerly held by the SPI Fund investment group, also based in France.
“Since the creation of Carbiolice in 2016, the close collaboration between Carbios and the SPI Fund enabled the industrial development of [a] new generation of polylactic acid (PLA)-based plastics that are 100 percent compostable under universal conditions (industrial and domestic composting or methanization),” states Carbios.
Carbios says the focus of much of its R&D effort has been focused on plastic and packaging manufacturing process applications for Evanesto, an enzyme-based additive designed so products made with it are biodegradable. The technology was licensed to Carbiolice in 2016.
The acquisition of the SPI Fund stake “demonstrates Carbios’ confidence in Carbiolice’s development capability,” states the company. The firm also says the move “reinforces Carbios’ ambition to position itself as the world leader in biological technologies to rethink end-of-life of plastics and synthetic fibers.”
“Carbios’ purchase of the Carbiolice shares held by the SPI Fund is consistent with our desire to strengthen value creation for our shareholders,” says Jean-Claude Lumaret, CEO of Carbios. “We are convinced this operation will support Evanesto’s commercialization and extend the applicability of this technology to other polymers and products worldwide,” Mr. Lumaret added.
“From an industrial green chemistry start-up, Carbiolice has become a full-fledged technological SME [small-to-medium enterprise] in its market, offering innovative solutions with high environmental value,” says Jean-Philippe Richard, SPI Fund’s investment director. “Carbiolice is a perfect illustration of the Bpifrance SPI Fund’s purpose: To develop industrial production sites in France with innovative partners and thus consolidate the French technological lead while anchoring in the regions highly skilled jobs,” adds Richard.
Carbios says the move also was made with a view to developing the firm’s technology offerings to resins beyond PLA.
In April, Carbios and tiremaker Michelin jointly announced having tested and applied Carbios’ enzymatic recycling process for end-of-life polyethylene terephthalate (PET) to create what they called “a high-tenacity tire fiber” that meets Michelin’s technical requirements.
Get curated news on YOUR industry.
Enter your email to receive our newsletters.
Latest from Recycling Today
- Reju, Circle-8 partner to develop UK textile circularity
- Aduro joins PLASTICS, PSRA
- Rumpke awarded recycling contract in Bowling Green, Ohio
- VPPA and RISI to host pulp and paper summit in Vietnam
- Agilyx buys stake in Green Dot
- Meadow tabs aluminum as key to boosting beauty sector recycling
- Recycling industry stakeholders testify at Congressional hearing
- Missouri city expands recycling capabilities with funding from The Recycling Partnership