Closer to industrialisation with first JV - Carbiolice
Carbios has announced its first joint venture, Carbiolice, in partnership with Limagrain and SPI. This is a key step and will combine Carbios technology with Limagrain’s industrial and commercial expertise in a €29.5m project to be developed over four years. Demand is supported by French legislation, which will enforce the use of bio-sourced and biodegradable plastics for certain bags from 2017. Our valuation range is unchanged, €23-37/share.Carbios SA, formerly Carbios SASU, is a France-based company engaged in green chemistry that focuses on discovering and developing enzymatic bioprocesses applied to plastic and textile polymers. The Company creates a new generation of fully biodegradable plastics with a controlled lifespan, a process enabling infinite biorecycling of plastic waste (PET) and a new biological pathway for the production of competitive biosourced polymers.
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