Carbios: plant project postponed, stock stalls

(CercleFinance.com) - Carbios plunged by almost 30% on the Paris stock exchange on Thursday, following the announcement that construction of its PET plastic biorecycling plant would be postponed pending receipt of additional financing.


In a press release, the greentech company states that it has decided to postpone work on its Longlaville site, located in the Grand-Est region of France, by six to nine months.

Although the construction of the plant will not be jeopardized, this decision should enable the company to slow down the pace of its cash burn linked to the project.

Carbios, whose cash position at November 30 stood at 92.8 million euros, plus 19.6 million euros in term deposits, now claims to be in a position to meet its needs beyond the next twelve months.

The company explains that its ambition is to finalize this financing, notably on a non-dilutive basis, as quickly as possible, so as to be able to produce the first volumes and serve the needs of the market as early as 2027.

With the end of Emmanuel Ladent's term of office as CEO, Philippe Pouletty, Carbios founder and Chairman of the Board of Directors, will take on the role of CEO, alongside Vincent Kamel, who will act in an advisory capacity.

Carbios says it has begun the process of recruiting a new CEO to continue the company's development.

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