This aid scheme, notified by France, is to support the chemical recycling of plastic waste. It is designed to promote investments in technologies for transforming plastic waste into new raw materials while reducing the industry's carbon footprint. A positive step towards the payment of grant subsidies to CARBIOS for the construction of the Longlaville biorecycling plant, as part of the overall public and private funding.
The authorisation granted by the European Commission should enable the final contractual agreements with the Grand Est Region and ADEME to be signed and the grant obtained to be implemented. At the same time, CARBIOS is continuing its discussions with private and public financial institutions likely to provide addtional financing for the project under favorable conditions.
CARBIOS is a biotech company developing and industrializing biological solutions to reinvent the life cycle of plastic and textiles. Inspired by nature, CARBIOS develops enzyme-based processes to break down plastic with a mission to avoid plastic and textile pollution and accelerate the transition to a circular economy.
Its two disruptive technologies for the biorecycling of PET and the biodegradation of PLA are reaching industrial and commercial scale. Visit www. This press release contains forward-looking statements, not historical data, and should not be construed as a guarantee that the facts and data stated will occur. It is therefore not in a position to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the materialization of a risk or combination of risks could lead to results that differ significantly from those mentioned in any forward-looking statement.
Political, economic and budgetary uncertainties in France and Europe may affect the schedule for actual grant payments. CARBIOS draws your attention to the fact that forward-looking statements are in no way a guarantee of its future performance and that its actual financial position, results, cash flows, its partnerships and corporate agreements, and the development of the sector in which CARBIOS operates may differ significantly from those proposed or suggested by the forward-looking statements contained in this document.
