L'Oréal will increase its stake in Carbios.
L’Oréal increased its share in Carbios through its investment fund BOLD (Business Opportonuties for l’Oréal Development) launched in 2018. Other companies have also increased their share in Carbios: Copernicus AM, Michelin Ventures et Truffle Capital.
L’Oréal and Corbios formed the joint venture in 2017. In the meantime, following companies have expressed their support: Nestlé Waters, PepsiCo et Suntory Beverage & Food Europe.
The funding will enable Carbios to finance a pilot plant for the recycling of plastics and polyesters fibres into PET plastics which will be the first step towards the industrialisation of this enzymatic PET recycling technology.
This technology uses specific enzymes that recycle used plastics into (recycled) PET that is of similar quality as virgin PET.
"By 2025, 100 % of our packaging will be recycled, recyclable or compostable and 50 % of our packaging will be made from used plastics or bio-based” said Barbara Lavernos, General Director of Technologies and Operations at l’Oréal.