€500,000 subsidy granted to Global Bioenergies by the Grand Est region as part of the France Relance plan
Evry, 01 February 2022: Global Bioenergies has been awarded a €500,000 subsidy to complete construction of the Pomacle production unit and start marketing its innovative ingredients to the cosmetics industry.
Global Bioenergies announced last spring the decision to build a production unit on the Pomacle site, near Reims. The first phase of the work was launched in the summer of 2021, and will enable production to start in March 2022.
The second phase of work will allow the unit to reach its full capacity, approximately 100 tons per year of isobutene, with isobutene derivatives targeting the make-up market, priorized by the Company due to its high prices.
The financial support of the Grand Est region, through the granting of a €500,000 subsidy within the framework of the France Relance plan, covers half of the second phase of construction of this industrial unit and consolidates the long-standing links between Global Bioenergies and the Grand Est region. It contributes to the dynamism of the local industrial fabric by investing in innovative production tools.
Marc Delcourt, Chief Executive Officer, said: “We thank the Grand Est region for its valuable support. Our LAST® brand has pushed the boundaries of naturalness in make-up, and the upcoming launch of this new industrial unit will enable us to respond to the major cosmetics players’ quest of naturalness.”
Samuel Dubruque, Chief Financial Officer, added: “We are working in parallel to obtain other, larger public fundings: beyond cosmetics, our technology can be used for numerous applications in materials and fuels. In particular, the decarbonation of air transport features among the list of France’s 10 priority objectives: our process is radically different from other technical options and offers the prospect of being one of the most competitive in the world.”
About GLOBAL BIOENERGIES
Global Bioenergies has developed a process to convert plant-derived resources into a family of compounds used in the cosmetics industry as well as the energy and materials sectors. In 2021, the Group entered the market with the launch of LAST®, its own make-up brand with formulas based on a key ingredient produced via its technology. The Company is constantly seeking to enhance the performance of its process while gradually ramping up production capacities in order to supply ingredients to major cosmetics manufacturers, thereby promoting naturalness in the industry whilst improving its carbon footprint. Some of these compounds can also be used to produce renewable plastics, rubbers and paints. Lastly, Global Bioenergies is also aiming to reduce CO2 emissions in the aviation sector and thereby curb global warming. Global Bioenergies is listed on Euronext Growth Paris (FR0011052257 – ALGBE).
PRESS CONTACT
Iva Baytcheva: ibaytcheva@ulysse-communication.com
Nicolas Daniels: ndaniels@ulysse-communication.com
GLOBAL BIOENERGIES
Email: invest@global-bioenergies.com
Tel: +33 (0)1 64 98 20 50
