* This partnership would allow Zhink Group to meet its leadership ambitions
through increased recycled PET capacities and sustainable competitiveness by
offering recycled PET from enzymatic recycling
* This agreement confirms strong traction for CARBIOS biorecycling technology
in China, the world's leading PET producer
* Based in China, the future plant will depolymerize minimum 50k tons of PET
waste per year, with potential to expand capacities, to serve regional and
global packaging and textile markets
Clermont-Ferrand (France) and Hangzhou (China), Thursday 27 June (6.45am CEST).
CARBIOS, (http://www.carbios.com/) (Euronext Growth Paris : ALCRB), a pioneer in
the development and industrialization of biological technologies to reinvent the
life cycle of plastic and textiles, and Zhink Group (https://www.zhink.cc/index-
en.html), one of China's Top 500 Private Enterprises, specializing in two global
industries, PET and textiles, announce today the signing of a joint Letter of
Intent to build a biorecycling plant in China using CARBIOS' revolutionary
enzymatic depolymerization technology to serve the global market. This agreement
officializes collaboration towards a long-term partnership in view of a first
licensing contract to build a plant with a minimum annual processing capacity of
50k tons of prepared PET waste and would contribute to accelerating a circular
economy for plastic and textiles. China, as the leading producer of PET in the
world, is a key market for CARBIOS, and this agreement would establish a
presence in this dominant market.
China: the world's largest PET producer
With 67 million tons of PET produced annually, representing 61% of global
production(1), China is the world's largest PET producer. With regional and
global demand for recycled PET growing, China also has the potential to take the
lead in recycled PET (r-PET) production. In 2021, 58% of the world's r-PET was
consumed in Asia (with 38% in China(2)) underscoring this region's importance
both as a major producer and consumer.
Furthermore, China is a key transformer of PET into resins and fibers used in
numerous applications in the packaging and textile industries. Most notably,
China is the primary country for transforming PET into fiber, representing 78%
of all PET fiber transformation in the world(3).
Sustainability and the "dual carbon" policies are considered as main drivers for
the Chinese PET recycling industry. Click here to refer to the Government
Guidelines to establish a waste recycling system
(https://english.www.gov.cn/policies/latestreleases/202402/09/content_WS65c5ea15
c6d0868f4e8e3e8a.html).(4)
Strategic partnership for Zhink and CARBIOS
For Zhink, the strategic focus is on the development of two global industries,
PET and textiles, and to be a leader with sustainable competitiveness. Zhink is
a major actor within the PET market with an annual production of 3 million tons
of PET, serving domestic and global markets. CARBIOS has developed a
revolutionary enzymatic depolymerization technology that enables efficient and
solvent-free recycling of PET plastic and textile waste into virgin-like
products. The initial agreement between the two groups would allow Zhink to
increase its recycled PET capacities and meet its sustainable competitiveness
objectives by offering r-PET from enzymatic recycling: a circular recycling
solution that can process all types of PET waste including hard-to-recycle waste
(such as opaque and colored bottles, multilayer food trays and textile waste)
while reducing CO(2) emissions by 57%(5) compared with virgin PET production.
For CARBIOS, this agreement marks a significant step in the deployment of its
technology worldwide and roll-out of its licensing model to achieve its ambition
to become a leading technology provider in the recycling of PET by 2035. This
Asia-based plant under license by Zhink would come in addition to the world's
first industrial-scale enzymatic PET recycling plant which is currently under
construction in Longlaville, France.
A milestone for CARBIOS' China market entry
The opening of official discussions with Zhink for a licensing agreement marks
an important milestone in CARBIOS' market entry into China. Since its inception,
CARBIOS has proactively protected its innovations in all key regions of
interest. With China considered as a major market, all of CARBIOS' families of
patents(6) own one or more titles in this country. For its PET biorecycling
technology, CARBIOS currently has 28 titles in force in China covering both the
industrial process and the enzymes used (including variants that will be used in
the industrial process).
Emmanuel Ladent, CEO, CARBIOS: "There is great momentum in China to accelerate
the circular economy and meet its target of carbon neutrality by 2060. The
technology developed by CARBIOS makes perfect sense in this context: capable of
recycling all types of PET waste, it promotes a circular economy with high-
quality products and significantly reduces the carbon footprint of industries.
As a leader in PET production, Zhink is considered as a key partner for
introducing our technology into China and will stimulate our international
deployment."
Zhu Guoyang, President, Zhink Group: "For Zhink, the strategic focus is on the
development of two global industries, PET and textiles, and to be a leader in
the industry with sustainable competitiveness. We are actively promoting our
subsidiaries to develop our PET recycling portfolio and are very interested in
CARBIOS' revolutionary biorecycling technology to reduce carbon emissions."
Tina Sejersgård Fanø, Executive Vice President, Planetary Health Biosolutions,
Novonesis): "With a 20-year presence in China and a solid R&D and manufacturing
footprint in the region, Novonesis is keen to share its local know-how for the
successful implementation of CARBIOS. Novonesis has a strong long-term
partnership with CARBIOS, and an exclusive one for the production of its
patented enzymes for PET biorecycling plants under license. We are ready to meet
CARBIOS' needs for future licensing projects in the region and beyond."
###
About CARBIOS:
CARBIOS (https://www.carbios.com/en/) 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. Its biorecycling demonstration plant has been
operational since 2021 and a first industrial plant, in partnership with
Indorama Ventures, is currently under construction. CARBIOS, founded in 2011 by
Truffle Capital, has received scientific recognition, notably with the cover of
Nature, and is supported by prestigious brands in the cosmetics, Food & Beverage
and apparel industries to enhance their products' recyclability and circularity.
Nestlé Waters, PepsiCo and Suntory Beverage & Food Europe are members of a
packaging consortium founded by CARBIOS and L'Oréal. On, Patagonia, PUMA, PVH
Corp. and Salomon collaborate with CARBIOS in a textile consortium.
Visit www.carbios.com/en (http://www.carbios.com/en) to find out more about
biotechnology powering plastic and textile circularity.
For latest news and media assets, visit our newsroom:
www.carbios.com/newsroom/en/ (http://www.carbios.com/newsroom/en/)
LinkedIn: CARBIOS (https://www.linkedin.com/company/carbios/) / Instagram:
insidecarbios (https://www.instagram.com/insidecarbios/?hl=en)
Information on CARBIOS shares:
ISIN Code: FR0011648716
Ticker Code: Euronext Growth: ALCRB
LEI: 969500M2RCIWO4NO5F08
CARBIOS is eligible for the PEA-PME, a government program allowing French
residents investing in SMEs to benefit from income tax rebates.
About Zhejiang ZHINK Group.
Founded in 1997, Zhejiang ZHINK Group is a modern group focusing on the
development of PET and textiles. The group locates it headquarter in the Noble
Center of Qianjiang Century City, Hangzhou, Zhejiang Province and its
subordinate industrial bases lie in Xiaoshan, Haining (Zhejiang Province),
Fuling (Chongqing City), Zaozhuang (Shandong Province), Xuzhou (Jiangsu
Province), Jinhua (Zhejiang Province) and Dazhou(Sichuan Province). The Group
now owns one listed company, two national high-tech enterprises, one academician
workstation, one post-doctoral workstation, one national textile product
development base and three provincial-level technology centers, and the
businesses cover hundreds of countries and regions around the world.
For additional
information, please
contact:
CARBIOS PR France PR US PR DACH & UK
Melissa Flauraud Iconic Rooney Partners MC Services
Aurélie AKNIN /
Press Relations Clémence NAIZET Kate L. Barrette Anne-Hennecke
carbios@mc-
melissa.flauraud@carbios kbarrette@rooneyco services.eu
.com carbios@iconic.fr .com (mailto:carbio
(mailto:Melissa.flauraud (mailto:carbios@ico (mailto:kbarrette@ s@mc-
@carbios.com) nic.fr) rooneyco.com) services.eu)
+33 (0)6 +49 (0)211
+33 (0)6 30 26 50 04 68 28 21 78 +1 212 223 0561 529 252 22
Benjamin Audebert PR China
Relations Investisseurs Golin
contact@carbios.com
(mailto:contact@carbios.
com) Vigar Zhou
+33 (0)4 73 86 51 76 wzhou@golin.com
+86 21 2411 0175
ZHINK PR CONTACTS
Tel?0571-83787179
Email?zhink@zhink.cc
Disclaimer on forward-looking statements and risk factors:
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. These forward-looking statements are based on data, assumptions and
estimates considered reasonable by CARBIOS. CARBIOS operates in a competitive
and rapidly evolving environment. 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.
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 and cash flows 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. In addition, even if
CARBIOS' financial position, results, cash flows and developments in the
industry in which it operates are consistent with the forward-looking
information contained in this document, such results or developments may not be
a reliable indication of CARBIOS' future results or developments. Readers are
advised to carefully consider the risk factors described in the Universal
registration document filed with the French Market Authority ("AMF"), as well as
in the half-year financial report available free of charge on the Company's
website. Should all or any part of these risk factors materialize or others, in
no case whatsoever will CARBIOS be liable to anyone for any decision made or
action taken in conjunction with the information and/or statements in this press
release or for any related damages. This information is given only as of the
date of this press release. CARBIOS makes no commitment to publish updates to
this information or on the assumptions on which it is based, except in
accordance with any legal or regulatory obligation applicable to it.
This press release and the information contained herein do not constitute an
offer to sell or a solicitation of an offer to buy or subscribe to shares in
CARBIOS in any country.
The translation is provided for information purposes only.
In the event of any discrepancy between the French and English versions of this
press release, the English version shall prevail.
--------------------------------------------------------------------------------
1 HIS Markit 2021, Market Research Future 2021
2 HIS Markit 2021, Market Research Future 2021
3 HIS Markit 2021, Market Research Future 2021
4
https://english.www.gov.cn/policies/latestreleases/202402/09/content_WS65c5ea15c6d0868f4e8e3e8a.html
5 Database ecoinvent 3.8; French scenario, taking into account the detour of
50% of PET waste from conventional end-of-life. Virgin PET: 2.53 kg CO(2)/kg
(cradle to gate)
6 1 innovation = 1 family of patents
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