CARBIOS is postponing the construction of its PET biorecycling plant in Longlaville, France, for 6 to 9 months due to delayed funding pending completion of additional financing under satisfactory conditions.

CARBIOS is postponing the construction of its PET biorecycling plant in Longlaville for 6 to 9 months.

CARBIOS aims to finalize this financing, notably non-dilutive, as quickly as possible, so as to serve market needs from 2027. CARBIOS expects to sign several binding commercial contracts in the first half of 2025.

Progress on financing the Longlaville plant

Negotiations with Indorama Ventures Limited are not yet finalized. CARBIOS has also entered discussions with other possible private and public financial institutions to provide financing for the Longlaville plant project under favorable conditions. These discussions are currently under review.

CARBIOS has therefore obtained confirmation from the French State, including Bpifrance, of its potential support in activating the appraisal of its request for debt coverage, for EUR 86 million, under the “Strategic Projects Guarantee” (GPS) scheme, for which the company has obtained eligibility.

Bpifrance’s GPS scheme is designed to support projects of strategic interest for the French economy, notably by offering partial debt coverage of up to 80% of loans or investments.

In addition, CARBIOS has obtained non-dilutive funding of EUR 30 million from France 2030 and a commitment of EUR 12.5 million from the Grand Est Region. The pre-notification phase of France’s state aid scheme to the European Commission has been completed.