CARBIOS: First-Half 2017 Operating and Financial Results
- Significant achievements in Research and Development
- Contract with TechnipFMC for the recycling of PET
- CARBIOLICE: ongoing approval of an innovative range of biodegradable and biosourced pellets
- Cash position of €4.7 million as of June 30, 2017
- Successful share placement of €4.2 million in July 2017
CARBIOS (Paris:ALCRB) (Euronext Growth Paris: ALCRB), pioneer company in the field of bioplasturgy, today announces its operating and financial results for the first half of 2017. The financial statements as of June 30th, 2017 were approved by the company’s Board of Directors at their meeting of September 19th, 2017.
Jean-Claude Lumaret, CEO of CARBIOS, said: “This first half of 2017 marks an important transition in the development of CARBIOS. We have just completed the fifth and final key stage of the THANAPLAST™ project launched in 2012 and in which more than 60 scientists from academic and private institutions have been involved. This strategic project has yielded excellent results confirming that we made the right choices. Our technology of enzymatic biodegradation applied to plastics, which has been licensed to CARBIOLICE, is on track for approval and everything is also ready for us to initiate the pre-industrialization of our biorecycling process dedicated to PET plastics.”
Highlights of the first half of 2017
During the first half of 2017, CARBIOS made significant scientific progress enabling to initiate the transposition of its PET biorecycling process from the pre-pilot to the pilot scale. The highlights of the first half of 2017 were the following:
Research & Development
- In January 2017, CARBIOS announced that its research enabled to demonstrate the depolymerization at 100% of household packaging in opaque PET such as the new milk bottles. Since 2012, CARBIOS carried out extensive research on the development of an enzymatic recycling process for PET. This work successfully demonstrated the depolymerization at 100% of PET based commercial products (bottles, packaging, films…) into their original monomers: TPA (terephthalic acid) and MEG (mono ethylene glycol). This proprietary innovation is an answer to one of the strategic challenges faced by operators of the plastic waste value chain by offering a technological solution to the recycling of all PET products (transparent, multi-layer, opaque, complex). Moreover, it fits a general context where the increase in quantities of opaque PET packaging on the market is causing mayhem in recycling plants. An issue which should encourage the emergence of new solutions, such as developed by CARBIOS, for the treatment of this type of plastic waste, today mostly sent to landfill or incineration.
- In June 2017, CARBIOS has taken a new step forward with the production of PET oligomers made out of terephthalic acid coming from its biorecycling process of PET plastic bottles. The synthesis of PET is carried out in two major steps. The first, considered to be the most critical, consists in the synthesis of PET oligomers from monomers of terephthalic acid and mono ethylene glycol. The second allows the synthesis of PET by polycondensation of the oligomers previously obtained. By succeeding in this first step, CARBIOS demonstrates that it is now possible to use PET plastic waste rather than fossil resources for the synthesis of PET oligomers.
- The first half of 2017 saw the ongoing activities of the THANAPLAST TM collaborative research and development project, as outlined in the consortium agreement between the CNRS, Poitiers University, the INRA (National Institute for Agricultural Research), Deinove, Limagrain Céréales Ingrédients and the group Barbier, one of the largest plastic producers in Europe. This strategic project which started in 2012 for a five-year period came to an end in June 2017.