L’Oréal announced on Wednesday (26) a minority investment in Carbios, a bioindustrial solutions manufacturing company, which involves the life cycle of plastic polymers and textiles.
After the launch in April of its brand of green beauty Seed Phytonutrients, with products whose disposable packaging are manufactured by Ecologic Brands, L’Oréal made clear its interest in investing in new materials for recyclable packaging in its business. In 2017 L’Oréal already established a partnership in a Consortium to bring the improved recycling technology to the market on an industrial scale.
This participation, whose amount was not disclosed, was made through the L’Oréal BOLD Business Opportunities fund for L’Oréal Development – a corporate venture capital fund launched in December 2018 destined to the developments of L’Oréal for new models in marketing, R&I, digital, retail, communication, supply chain and packaging and provides startups with L’Oréal’s expertise, networking and mentorship. With this operation, Carbios finances, among other elements, the industrial demonstrator for the bioreciclation of plastics and polyester fibers in PET plastic, a first step for the industrialization of the projected technology.
Carbios has developed a unique and sustainable technology using highly specific enzymes that can recycle much broader PET plastics and polyester fibers feedstock than other recycling technologies. This innovative process creates recycled PET equivalent to virgin PET, that can be used for applications like bottles and other forms of packaging.
Barbara Lavernos, Executive Vice President of Operations at L’Oréal, points to the direction of the company until 2025 “This participation demonstrates our support for new technologies for sustainable development. 100% of our packaging will be recycled, recyclable or compostable, and more specifically, 50% of the plastic used in our packaging will be recycled or of biological origin. Carbios is developing a pioneering plastic recycling technology based on the principles of circular economy and biotechnology, and we are proud to support them in their development. “