{"id":89483,"date":"2021-06-16T06:45:19","date_gmt":"2021-06-16T04:45:19","guid":{"rendered":"http:\/\/rss.nova-institut.net\/public.php?url=https%3A%2F%2Fwww.biofuelsdigest.com%2Fbdigest%2F2021%2F06%2F13%2Fcarbios-acquires-entire-stake-of-carbiolice-for-polymer-biodegradation-tech%2F"},"modified":"2021-06-16T01:51:41","modified_gmt":"2021-06-15T23:51:41","slug":"carbios-strengthens-its-position-in-polymer-biodegradation-technologies-with-the-acquisition-of-the-spi-funds-entire-stake-of-carbiolice-capital","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/carbios-strengthens-its-position-in-polymer-biodegradation-technologies-with-the-acquisition-of-the-spi-funds-entire-stake-of-carbiolice-capital\/","title":{"rendered":"Carbios strengthens its position in polymer biodegradation technologies with the acquisition of the SPI Fund\u2019s entire stake of Carbiolice capital"},"content":{"rendered":"<p><strong>Carbios (Euronext Growth Paris: ALCRB), a company pioneering new enzymatic solutions to reinvent the lifecycle of plastic and textile polymers, announced today the acquisition of the SPI Fund\u2019s entire stake in Carbiolice capital (37.29%).<\/strong><\/p>\n<ul>\n<li>Under the terms of the shareholders pact<sup>[1]<\/sup>, Carbios acquisition of the SPI Fund\u2019s stake in Carbiolice took place on June 3rd, 2021, for \u20ac17.9 million, closing five years of collaboration with the SPI Fund operated by Bpifrance Investissement<\/li>\n<li>By holding 100% of Carbiolice\u2019s capital, Carbios is strengthening its capacity to develop its activities on polymers biodegradation beyond PLA<sup>[2]<\/sup><\/li>\n<li>The transaction values Carbiolice at approximately \u20ac48 million<\/li>\n<\/ul>\n<p>Since the creation of Carbiolice in 2016, the close collaboration between Carbios and the SPI Fund enabled the industrial development of a unique innovative solution: The creation of a new generation of PLA-based plastics that are 100% compostable under universal conditions (industrial and domestic composting or methanization). This breakthrough allows Carbios to address one of the key issues generated by the end-of-life of plastics: The pollution of our environment. The bioprocess developed by Carbios introduces enzymes at the heart of plastic products to make them 100% biodegradable. This technology, which was licensed to Carbiolice in 2016, leverages an enzyme-based additive known as Evanesto<sup>\u00ae<\/sup>, which is easily incorporated into conventional plastic and packaging manufacturing processes.<\/p>\n<p>This acquisition demonstrates Carbios\u2019 confidence in Carbiolice\u2019s development capability. It also reinforces Carbios\u2019 ambition to position itself as the world leader in biological technologies to rethink the end of life of plastics and synthetic fibres.<\/p>\n<p>\u201cI want to express my gratitude to the SPI Fund for our productive collaboration. Their guidance and support have enabled the creation of one of the most innovative industrial biotech companies in Europe in the field of biodegradable plastic packaging,\u201d said Jean-Claude Lumaret, Carbios\u2019 Chief Executive Officer. \u201cCarbios\u2019 purchase of the Carbiolice shares held by the SPI Fund is consistent with our desire to strengthen value creation for our shareholders. We are convinced this operation will support Evanesto\u00ae\u2019s commercialization and extend the applicability of this technology to other polymers and products worldwide,\u201d Mr. Lumaret added.<\/p>\n<p>\u201cAs a founding member of Carbiolice, we are pleased to have supported it throughout its growth and to have played our role as a strategic partner in its governance alongside Carbios and Limagrain Ingr\u00e9dients. From an industrial green chemistry start-up, Carbiolice has become a full-fledged technological SME in its market, offering innovative solutions with high environmental value,\u201d said Jean-Philippe Richard, SPI Fund\u2019s Investment Director.<\/p>\n<p>\u201cThe industrial growth of Carbiolice reflects the advanced expertise of its teams and validates a technology that is unique in the world allowing the biodegradation and compostability of polymers. Carbiolice is a perfect illustration of the Bpifrance SPI Fund\u2019s purpose: To develop industrial production sites in France with innovative partners and thus consolidate the French technological lead while anchoring in the regions highly skilled jobs,\u201d Mr. Richard noted.<\/p>\n<p>Carbios\u2019 option to purchase the shares held by the SPI Fund was exercisable between the third and sixth anniversary of the shareholders\u2019 pact. As mentioned in its Universal Registration Document, Carbios could exercise this purchase option before the sixth anniversary of the Pact. Carbios therefore exercised this agreement and notified SPI of its willingness to exercise the purchase option for a sale price of \u20ac17.9 million under the terms of the shareholders\u2019 pact. This acquisition comes as part of the rationalization of the Company\u2019s portfolio with a view to developing its biodegradation technologies beyond PLA, as announced during the success of its capital increase on May 10, 2021<sup>[3]<\/sup>. The purchase of the SPI Fund\u2019s shares follows the acquisition in October 2020 of Limagrain Ingredients\u2019 entire stake in Carbiolice capital<sup>[4]<\/sup>. Following this cash-paid acquisition, Carbios has a solid financial position with cash of \u20ac114 million, compared to \u20ac29 million as of December 31, 2020.<\/p>\n<p><sup>[1]<\/sup> The signature of a shareholders\u2019 agreement on August 31, 2016 (\u201cthe Pact\u201d) between Carbios, Limagrain Ingr\u00e9dients and SPI Fund operated by Bpifrance Investissement defines the rights and obligations of the parties relating to the creation of Carbiolice.<\/p>\n<p><sup>[2]<\/sup> PLA: Polylactic Acid<\/p>\n<p><sup>[3]<\/sup> Cf. May 10th, 2021, press release.<\/p>\n<p><sup>[4]<\/sup> Cf. <a href=\"https:\/\/www.carbios.com\/en\/carbios-acquires-limagrain-ingredients-entire-stake-in-the-capital-of-carbiolice\/\" target=\"_blank\" rel=\"noopener\">October 8th, 2020<\/a>, press release.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carbios (Euronext Growth Paris: ALCRB), a company pioneering new enzymatic solutions to reinvent the lifecycle of plastic and textile polymers, announced today the acquisition of the SPI Fund\u2019s entire stake in Carbiolice capital (37.29%). Under the terms of the shareholders pact[1], Carbios acquisition of the SPI Fund\u2019s stake in Carbiolice took place on June 3rd, [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[10503,14007,5885],"supplier":[12894,7630],"class_list":["post-89483","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-biodegradable","tag-pet","tag-pla","supplier-carbiolice","supplier-carbios"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/89483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=89483"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/89483\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=89483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=89483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=89483"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=89483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}