Carbios-Indorama industrial PET plant progresses
France-based biorecycler Carbios, which uses enzymatic technology to depolymerise polyethylene terephthalate (PET) plastics in a circular loop, has entered into a non-binding agreement with Thai polyester manufacturer Indorama Ventures to build “the world’s first PET biorecycling plant” on French soil.
At this stage, Indorama expects to set aside just under $120 million (€110 million) for investment in the joint venture, split between equity and non-convertible loan financing. It may roll the technology out across other PET sites in the future. According to the terms of their current deal, Carbios will acquire 13 hectares of land from Indorama in Longlaville, north-eastern France, where Indorama already operates a PET facility.
It expects to be granted a plant permit by the third quarter, with construction to begin by year’s end. There is apparently enough land to potentially double capacity down the line.
Chief executive at Carbios, Emmanuel Ladent, described the announcement as “a significant landmark” and “a major step forward”, especially given the positive results of their joint due diligence work thus far.
“Our first reference unit at Longlaville is a springboard for our industrial and commercial deployment worldwide, in order to reach our leadership goals in advanced recycling of PET,” he said.
Late last month, Carbios secured French government funding towards advancing its internal research and development work, along with additional investment in its Longlaville construction project.
Indorama, meanwhile, penned a separate agreement with US biobased materials developer Origin, involving the manufacture of chemicals and biobased plastics from eco-friendlier feedstocks such as wood residue.
