Recycling / Circular Economy

2023-04-06

Carbios presents its 2022 Annual Results and the progress of its industrial and commercial deployment

Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development and industrialization of biological technologies for reinventing the life cycle of plastics and textiles, announces today its operating and financial results for the year 2022. The financial statements as of December 31, 2022, were approved by the Company’s Board of Directors at their meeting on April 5, 2023. The Company’s accounts have been audited by the Statutory Auditors and will be available today on the Company’s website.

Project to build, in France, the world’s first PET biorecycling plant: Progress in line with 2025 unit commissioning target6

Excellent results from the demonstration plant validating the industrial scale-up of Carbios technology

Carbios licensing documentation ready for worldwide industrial and commercial deployment

Long-term exclusive strategic partnership with Novozymes to ensure supply of enzymes at industrial scale for the Reference Unit and all future licensee plants

Creation of fiber-to-fiber consortium with On, Patagonia, Puma, PVH Corp., and Salomon

CE-PET research project successfully completed

Participation in WhiteCycle project co-funded by Horizon Europe and coordinated by Michelin

Publication of scientific articles in the prestigious Biophysical Journal and in Chemical Reviews

Carbios hosts world’s first PET Biorecycling Summit

Carbios publishes first Sustainability Report and outlines objectives for environmental, social and governance (ESG) initiatives

Carbios joins Ellen MacArthur Foundation’s circular economy network

€30 million European Investment Bank loan drawn down in 2022

Group’s cash position of €101 million as of December 31, 2022

“In 2022, Carbios continued to build on its momentum to grow and structure its partnerships. Most notably, Carbios signed an exclusive, long-term strategic agreement with Novozymes that guarantees the production and supply of Carbios’ PET degradation enzymes on an industrial scale for our Reference Unit and future licensees of our technology. We also founded a fiber-to-fiber Consortium with On, Patagonia, PUMA, Salomon and PVH Corp. to collaborate on developing a more circular textile industry. We can also be proud of the outstanding results achieved in our demonstration unit, which proved the performance and robustness of our technology. At the same time, the design engineering studies for our Reference Unit have progressed in line with the objectives of being operational in 2025,” commented Emmanuel LADENT, Chief Executive Officer of Carbios. “Looking ahead, we remain focused on executing our roadmap and are fully committed to working with our partners to begin construction this year of this Reference Unit, the world’s first PET biorecycling plant. We are confident that we will grant the first licenses for this disruptive innovation combining economic performance and environmental efficiency by 2024. I would like to thank all Carbios’ employees and all our stakeholders for their shared commitment to reducing plastic pollution and making Carbios a key player in the circular economy.”

FINANCIAL HIGHLIGHTS FOR 2022

The consolidated financial statements of the Company as of December 31, 2022, are presented in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and adopted by the European Union.

For 2022, these IFRS consolidated financial statements include the financial statements of Carbios, the parent company, and the financial statements of its fully integrated subsidiaries Carbiolice and Carbios 54[1] at December 31, 2022.

For 2021, these IFRS consolidated financial statements include the full-year financial statements of Carbios, as well as the equity-accounted securities of its subsidiary Carbiolice until June 3, 2021, and then the fully consolidated financial statements of the latter as of December 31, 2021, following Carbios’ acquisition of Carbiolice, and without Carbios 54 entity which was created on June 8, 2022. For comparison purposes, a proforma situation is presented below. It takes into account the takeover of Carbiolice on January 1, 2021 instead of June 3, 2021, and consequently presents Carbiolice as fully consolidated for the full-year 2021. The group formed by Carbios, Carbiolice and Carbios 54 is hereinafter referred to as the “Group”.

These IFRS financial statements for the Group have been prepared to provide high quality information in line with that of similar companies and based on international standards.