First time profitable
Carbios reported a profit, for the first time in its history, in 2016. First commercial revenues from the Carbiolice JV were the key driver behind the strong results. We have upgraded our forecasts and estimate that the company is funded through 2017 but may require additional financing in 2018. Our valuation range remains unchanged at €23-37 per 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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