Plastic bottles
Photo: Arshad Pooloo on Unsplash
French bioplastics biotech firm Carbios has announced that it raised €14.5m through share placement, which will be used to fun the building of a facility that makes 100% recycled plastics through the use of enzymes.
Of the €14.5m, 75% will be used to fund that plant. Scheduled to be operational by the end of 2020, the plant break down and recycle polyethylene terephthalate (PET) plastics, most commonly used to manufacture plastic bottles. The remaining 25% will go towards Carbios' ongoing financing.
Carbios has been continually developing biotechnology that develops enzymes capable of breaking down PET plastics and was the first company to produce 100% recycled plastic bottles.
“Today only clear bottles are recycled and can be recycled five or six times, not in a loop like we can do,” explained Carbios’ Head of Investor Relations, Benjamin Audebert. “The potential of enzymes is incredible and this is what we want to use it for.”
The bioplastics industry is growing rapidly as other industries are pressured by growing public awareness to cut down on pollution and be more sustainable. Carbios is also working on several other projects designed to move towards a circular economy including recycling old clothes into new plastics.
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