L’Oréal’s corporate venture fund BOLD, Business Opportunities for L’Oréal Development, made a minority investment in Carbios, a producer of bio-industrial solutions that reinvent the lifecycle of plastic and textile polymers.
WHO: Carbios S.A. is a recycling-technology company focused on plastics and textile polymers. The company has developed a unique and sustainable technology using highly specific enzymes that can recycle much broader PET plastics and polyester fibers 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.
BOLD Business Opportunities for L’Oréal Development is a corporate venture capital fund aiming to take minority stakes in innovative companies and brands with high growth potential. The fund invests in new business models in marketing, R&I, digital, retail, communication, supply chain, and packaging, and provides start-ups with L’Oréal’s expertise, networking, and mentorship.
WHY: As the beauty industry is focusing on the use of plastic in their packaging, and how it can better integrate in a circular economy, this investment provides access to innovation for L’Oréal.
IN THEIR OWN WORDS: Barbara Lavernos, Executive Vice-President Operations of L’Oréal, said in a statement, “This participation demonstrates our support of new sustainable development technologies, in line with our commitment that by 2025, 100% of our packaging will be recycled, recyclable or compostable, and more specifically, 50% of the plastic used in our packaging will be recycled or bio-sourced. Carbios is developing a pioneering plastic recycling technology, based on both circular economy principles and biotechnologies, and we are proud to support them in their development.”
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