“Demand for technology that facilitates a circular economy is growing rapidly and we are at the forefront of providing global players an efficient alternative that protects the environment.”
US green chemistry company Carbios has announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for an additional U.S. patent for its proprietary process of recycling PET plastic waste.
The patent application recognises Carbios for its invention of a proprietary method of recycling complex plastics, including coloured, opaque, and multi-layer products containing a mix of PET and at least one additional component.
This patent is the second one in the US that has been applied to Carbios’ infinite recycling technology, and it protects Carbios’ innovation through to 2033.
In addition to this patent, Carbios owns 116 titles worldwide representing 30 patent families, six of which protect its proprietary method of recycling in full, and five of which are related to enzymes that degrade PET.
“This patent confirms Carbios’ unique expertise and leadership in developing an infinite recycling solution for all kinds of PET waste, particularly types which are barely treatable used traditional recycling processes,” Jean-Claude Lumaret, CEO of Carbios, said.
He added: “Demand for technology that facilitates a circular economy is growing rapidly and we are at the forefront of providing global players an efficient alternative that protects the environment.”
Essentially, Carbios has developed what it describes as a unique and sustainable technology using highly specific enzymes that can recycle much broader PET plastics and polyester fibres 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.
Elsewhere, Carbios announced that it had raised €14.5 million in fresh capital as it seeks to boost its PET recycling technology and expand its operations.
The company has placed 2.245.886 new shares with a par value of €0.70, at the unit price of €6.45, including the issue premium, for a total amount of €14,485,964.7, representing 48.22% of the company’s capital before the transaction on a non-diluted basis, for a dilution of 32.53%.
Investment company Copernicus, cosmetics giant L’Oréal via its capital-investment fund BOLD Business Opportunities for L’Oréal Development, Michelin Ventures and Truffle Capital contributed to this capital increase, in accordance with the commitments they had made, for a total of €10,499,980.8, representing 1,627,904 ordinary new shares, equivalent to 72.48% of the total number of shares newly issued for this capital increase.
In a statement, Carbios said that around 75% of the funds raised will be used to finance an industrial PET biorecycling demonstrator. Around 25% will be used for the company’s ongoing financing.