Carbios, a French biotech company renowned for its innovative approach to recycling, has announced that the construction of its PET biorecycling facility in Longlaville will face a delay of 6 to 9 months.
This update comes after the official groundbreaking ceremony held in April earlier this year.
Reasons for Delay
The delay is largely attributed to the company’s effort to secure financing under more favorable conditions.
While Carbios reassures stakeholders that this holdup will not threaten the viability of the plant, it aims to ease financial strains.
This strategy allows the company more time to negotiate without the pressing challenge of immediate cash flow concerns.
Partnership and Funding Efforts
The partnership discussions with Indorama Ventures Limited, the firm’s original collaborator on the project, continue and are still open-ended.
In addition to this partnership, Carbios is actively seeking other funding avenues, tapping into both private investors and public financial institutions to secure the necessary financial support at advantageous terms.
Future Ambitions
Founded in 2011, Carbios has positioned itself at the forefront of enzyme-based technologies designed to decompose plastics for efficient recycling, all while aiming to reduce energy consumption.
Their demonstration facility, which has been operational since 2021 in Clermont-Ferrand, acts as a precursor to what will eventually become an industrial-scale plant, pushing PET biorecycling processes into commercial territory.
With ambitions to secure funding swiftly and meet market expectations by 2027, Carbios is also looking to expand the scope of its recycling efforts.
The company aims to integrate various plastic materials into the circular economy, with a particular focus on PETG alongside other types of plastics.
Source: Premiumbeautynews