CARBIOS and SASA enter discussions for license of 100k ton/year PET biorecycling facility in Turkey
Source: GlobeNewswire
Clermont-Ferrand (France) and Adana (Turkey), Thursday 1 August 2024 (6pm CEST). CARBIOS, (Euronext Growth Paris : ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and SASA, one of the world's leading manufacturers of polyester, fiber, filament yarn, polyester-based polymers, specialty polymers and intermediates, have signed a Letter of Intent (LOI) to cooperate through SASA’s potential acquisition of a license for CARBIOS’ unique PET biorecycling technology. This licensing agreement would allow SASA to construct and operate an enzymatic depolymerization plant in Adana, Turkey, with a capacity of 100,000 tons per year of prepared PET waste, and would give access to a circular recycling technology, enabling the production of polyester pellets, fibers and textiles from various waste sources, including polyester textile waste. With CARBIOS' biorecycling technology, SASA would diversify its offering to meet the growing global demand for sustainable materials in the textile industry, primarily catering to the European market.
SASA and CARBIOS’ partnership : a boost for European recycled polyester production
Less than 1% of textile waste is currently recycled into new textile fibers1. With European regulations moving towards the incorporation of more recycled content (at least 20% of recycled fibers by 2030), demand for recycled polyester in the EU is anticipated to increase, naturally positioning Turkey as a major producer alongside Asian countries. In this context, SASA is striving to become the largest supplier of high value-added polyester in the region and beyond. To achieve this, SASA aims to introduce recycling as part of its activities, which already encompass the whole value chain from PET production to fiber and textile conversion. CARBIOS’ PET biorecycling technology plays an important part in SASA’s ongoing transformation strategy, which includes back integration, capacity expansion, even higher competitiveness, as well as circularity.
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. CARBIOS has ambitious plans to become a leading technology provider in the recycling of PET by 2035. After the recent announcement of a joint Letter of Intent with Zhink Group in China, this new Letter of Intent for a potential licensing agreement in Europe confirms global traction for CARBIOS biorecycling technology, and marks another significant step in the international roll-out of its licensing model. In addition to the world’s first industrial-scale enzymatic PET recycling plant which is currently under construction in Longlaville, France, this potential plant in Turkey would process PET waste that is currently not recyclable using conventional recycling technologies.
Emmanuel Ladent, CEO, CARBIOS : “With the creation of a major PET yarn and fiber manufacturing capacity on a European scale, we believe Turkey will play a pivotal role in the expanding textile market. Partnering with SASA, a leader in polyester production, is a natural fit for CARBIOS’ international ambitions for licensing our biorecycling technology, and will contribute to a more circular and sustainable textile industry.”
Dr. M. Kemal Öz, General Manager, SASA: “As a leading producer of polyester, it’s our duty to pave the way in terms of sustainability and environmental responsibility. SASA needs to be a part of the recycling business and our partnership with CARBIOS reinforces our commitment to innovation to advance a circular economy for textiles.”
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About CARBIOS:
CARBIOS 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 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/
LinkedIn: CARBIOS / Instagram: insidecarbios
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 SASA
SASA is one of the world's leading manufacturers of polyester, fiber, filament yarn, polyester-based polymers, specialty polymers and intermediates.
SASA successfully manages the entire process from design to manufacturing and distribution by combining its leadership responsibility in its sector, its strong technical heritage and innovation culture with its high production capacity.
SASA website: SASA Polyester Sanayi A.Ş. - SASA
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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.
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