In line with its press release dated 19 December 2024, which mentions the reduction of operating costs and prudent management of its strong cash position, CARBIOS today launched a project to reorganize and reduce its workforce
This project concerns CARBIOS and its subsidiary CARBIOS 54 and could result in the elimination of around 40% of positions.
CARBIOS reaffirms its objective to build its PET biorecycling plant in Longlaville after having secured additional funding, in particular non-dilutive financings.
Clermont-Ferrand (France), 28 January 2025 (8:30 CET).CARBIOS, (Euronext Growth Paris : ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, has announced the initiation of a reorganisation project that could result in job cuts at CARBIOS and CARBIOS 54, potentially affecting approximately 40% of positions.
This reorganisation should contribute to enable CARBIOS to continue executing its technological, industrial and commercial strategy, as well as cautiously managing its solid cash position (€107m as of 31 December 2024) by reducing the Group's cash burn. CARBIOS is focussed towards achieving its objectives of signing its first commercial contracts during the first half of 2025 and towards securing financing to continue the construction of its first PET biorecycling plant in Longlaville.
The proposed reorganisation is among other things subject to an information-consultation procedure with the Social and Economic Committee (CSE).
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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 construction work of the world’s first industrial biorecycling plant is expected to restart between June and September 2025, subject to the necessary additional funding. CARBIOS, founded by Truffle Capital, has received scientific recognition, notably with the cover of Nature and a second article published by 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.
Information on CARBIOS shares: ISIN Code FR0011648716 Ticker Code Euronext Growth: ALCRB LEI: 969500M2RCIWO4NO5F08 CARBIOS, founded in 2011 by Truffle Capital, is eligible for the PEA-PME, a government program allowing French residents investing in SMEs to benefit from income tax rebates.
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, cash flows, its partnerships and corporate agreements, 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, its partnerships and corporate agreements, 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 also 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 occur 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.
