Carbios Gets €54 Million for Enzymatic Recycling Facility and Research
The French government awarded grants to Carbios for the development of its facility for recycling PET using enzymatic technology.
Carbios, developer of an enzymatic process for recycling PET, announced it will receive grants from the French government valued at a total of €54 million euros. The money will be used to accelerate research and development and finance construction of a PET bio-recycling plant.
The Carbios process uses enzymes to break down PET into purified terephthalic acid and monoethylene glycol.
Photo Credit: Getty
As part of the France 2030 investment plan, announced in 2021 to support development of decarbonized energy, transportation, and industry, Carbios will receive €30 million from the French government and €12.5 million from the Grand-Est Region for industrializing the company’s PET recycling process.
The plant in Longlaville, France will be the first plant of its kind and is expected to be commissioned in 2025. The plant will be used to produce renewed terephthalic acid and ethylene glycol from PET using an Carbios’s enzymatic process. Carbios also announced the signing of an agreement with Indorama Ventures, a producer of PET resins. Indorama plans to put €110 million of equity and financing into the venture, to be finalized when engineering documentation and economic feasibility are completed.
Additional funding of €11.4 million, including €8.4 million for Carbios and €3.2 million for its academic partners, was granted for continuing research into enzymatic technologies for processing waste.
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