LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Regulatory News:
Carbios (Euronext Growth Paris: ALCRB) (Paris:ALCRB) and TechnipFMC (NYSE: FTI) (PARIS: FTI), announced today that TechnipFMC’s operating center in Lyon, France will be assisting Carbios to build a plant that demonstrates Carbios’ Enzymatic Recycling Process.
The technology uses proprietary enzymes to recycle waste PET (polyethylene terephthalate) plastics into monomers ready for repolymerization into PET with the same technical and physical properties as virgin PET. This collaboration is an important step in the demonstration of the technology and potential future commercialization.
TechnipFMC will provide advisory, engineering, procurement and construction supervision services for this plant, which will be located close to Lyon. Construction will start later this year with first operations expected to begin in 2021.
Alain Francois, Managing Director of TechnipFMC’s Lyon office, said “We are pleased to work with Carbios to demonstrate their plastic recycling technology. This collaboration recognizes our technological know-how and leading-edge approach to commercializing new processes, as well as underlining our ambition to provide services in the field of sustainability and the circular economy.”
Jean-Claude Lumaret, CEO of Carbios, noted “Carbios’ collaboration with TechnipFMC has been very successful over the past few years and we are delighted to extend this valuable partnership to the construction of our demonstration plant. This agreement, which will leverage both parties’ expertise, supports our common vision to enhance the sustainability of the plastic industry. Carbios’ technology has proven to be a superior process that efficiently recycles all PET-based plastics. To ensure its implementation at large-scale, it is key for operators to gain insights into operational conditions. Our collaboration with TechnipFMC aims to address this need through a demonstration plant.”
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About Carbios:
Carbios is a green chemistry company whose innovations help address the environmental and sustainable development challenges facing manufacturers. Since its creation in 2011 by Truffle Capital, the Company has developed, through biotechnology, two industrial processes that revolutionize the biodegradation and recycling of polymers. These innovations, a world first, optimize the performance and lifecycle of plastics and textiles by exploiting the properties of highly specific enzymes.
Carbios' economic development model is based on the industrialization and commercialization of its products and/or enzymes, technologies and bioprocesses through license concessions directly or through joint ventures to major industrial players or sectors concerned by the Company's innovations. As such, Carbios created the joint venture Carbiolice in September 2016, in partnership with Limagrain Ingredients and the SPI fund operated by Bpifrance. This company, of which Carbios has majority control, will exploit the first technology licensed by Carbios by producing enzymatic granules for the production of biodegradable and biobased plastics.
Carbios benefits from the qualification "Innovative Company" of Bpifrance allowing the eligibility of the Company's securities for the investment of Mutual Funds Placement in Innovation (FCPI). For more information, please visit: www.carbios.fr
Carbios is eligible for the PEA-PME, a government program allowing French residents investing in SMEs to benefit from income tax rebates.
About TechnipFMC
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world’s energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
