Global Bioenergies strengthens its cash position thanks to several cash inflows coming from public fundings

PRESS RELEASE

Global Bioenergies strengthens its cash position thanks to several cash inflows coming from public fundings

Evry, 15 November 2023 – 05:45 p.m.: Global Bioenergies announces the strengthening of its gross cash position to 14.4 million euros to date (unaudited cash position), and the extension of its financial visibility until early 2025 through the collection of several non-dilutive financing from renowned partners (Bpifrance, ADEME and the European agency BBI-JU within the framework of the Horizon 2020 research and innovation programme).

Global Bioenergies has recently received from these partners several fundings totalling €7.3M, under:

• Plant construction project (€4.1m): payment of the first instalment of the funding granted by the French government for the construction of the world's first biobased isobutene plant. This funding, totalling €16.4m, was awarded as part of the “Première Usine” call for projects launched by Bpifrance within the France 2030 plan.
• Several French and European R&D consortia (€3.2m):
  
  receipt of the balance of the European grant for the Optisochem project aiming to convert wheat straw into biobased isobutene derivatives (€1.4m); receipt of the balance of the funding for the ISOPROD programme, led by ADEME, validating isobutene derivatives in cosmetics (€1.1m); payment of the advance for the Prénidem project (€0.7m) out of a total amount awarded by ADEME of €4.4m.

About GLOBAL BIOENERGIES

Global Bioenergies substitutes products of fossil origin with products of natural origin. In their quest for naturalness without compromising on performance, the cosmetics players are the Company's first customers. By 2027, the Company will be operating its innovative process in a large-scale plant. By 2030, the Company plans to become a leader in the huge emerging market for sustainable aviation fuels, in order to fight against global warming. Global Bioenergies is listed on Euronext Growth in Paris (FR0011052257 - ALGBE). L'Oréal is its largest shareholder, with a 13.5% stake.

Contacts

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