Carbios targets 8-12% share of global r-PET market by 2035

French biotechnology company Carbios has announced its strategic ambitions for 2035, aiming to capture a significant portion of the global recycled PET (r-PET) market. The company projects achieving a 4-8% market share by 2030 and expanding this to 8-12% by 2035.

Carbios' business model centers on licensing its proprietary PET biorecycling technology. This approach focuses on minimizing capital expenditure and generating revenue through three streams: upfront license fees based on installed capacity, recurring royalties from Novozymes' sale of Carbios' enzymes, and royalties based on the premium value of the biorecycled PET produced. The company estimates these royalty streams could yield approximately €250 or more per ton of r-PET.

Recent developments include strengthened partnerships with Indorama Ventures and Novozymes, along with over €150 million in funding for the world's first industrial-scale PET biorecycling plant. The cost of this facility, located in Longlaville, has been re-estimated at €230 million, with commissioning expected in 2025. The plant is anticipated to be cash flow positive within its first year of operation.

Looking beyond PET, Carbios plans to expand its innovation pipeline to include other plastic types such as polyamides and polyolefins. This expansion is expected to increase research and development costs by 15-20% annually until 2035. Selling, general, and administrative expenses are also projected to rise by 8-10% to support the company's licensing and commercial efforts.

The company highlights its enzyme-based biorecycling technology's advantages, including its "plug-and-play" integration with existing PET production facilities and its ability to produce high-quality monomers from plastic waste.