L’Oréal has purchased a minority stake in Carbios, a company pioneering bio-industrial solutions to reinvent the lifecycle of plastic and textile polymers.
The French beauty giant’s investment was made via its corporate venture capital fund, BOLD (Business Opportunities for L’Oréal Development), which was launched last December. The investment will finance Carbios’ industrial demonstrator for the biorecycling of plastics and polyester fibers in PET plastic.
“This participation demonstrates our support of new sustainable development technologies, in line with our commitment that by 2025, 100 percent of our packaging will be recycled, recyclable or compostable, and more specifically, 50 percent 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,” said Barbara Lavernos, Executive Vice-President Operations of L’Oréal.