Carbios, a biotech firm that recycles PET plastics and polyester fibers using an enzymatic process, held a groundbreaking ceremony for its PET bio recycling plant in Longlaville, France. The company will receive grants totalling EUR 54 million (~USD 58.2 million) from the French State and Grand-Est Region, as part of the France 2030 Plan.
The plant will leverage Carbios’ enzymatic bio recycling technology, a first in the sector, to break down PET waste. This sustainable process will support recycling of up to 50,000 tons of PET, inclusive of packaging and textile waste, in a year. Full operation of the plant is expected by 2026.
Analyst QuickTake: In November 2023 , the company secured ~USD 243 million for the plant from investors, including Indorama Ventures. The company also partnered with Landbell Group in February 2024 to begin processing PET waste at the facility once it comes online in 2026.
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