Carbios Confirms France Plant Construction Goal, Expected to Start Production in Mid-2028

Supported by significant progress in financing its industrial project in France, Carbios has confirmed its target to build the Longlaville plant and plans to commission it in the first half of 2028.

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Longlaville Factory Project Financing Progress

Carbios stated that the company continues to work on structuring the financing required to restart the project. Discussions aimed at finalizing the financing structure are progressing actively, although they are not yet completed.

In addition to the confirmed and contractually secured 42.5 million euros of public funding, Carbios 54's financing will come from:

These investments will make Carbios a minority and non-controlling shareholder, therefore Carbios 54's debts and financial performance will not be consolidated by Carbios.

If this structure is finalized, it will cover the factory’s estimated construction cost of €230 million, as well as all project launch-related expenses, including equipment, engineering and commissioning costs, contingency costs, working capital requirements for the future factory, reserve accounts, operating expenses incurred prior to the industrial entity achieving profitability, future loan interest and principal repayments, and financial fees associated with obtaining loans and guarantees.

The project stakeholders aim to complete the various components of the financing within the coming weeks, with the goal of closing the transaction in Q3 2026.

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Regulatory Environment and Presale Contracts

Carbios points out that the French and European regulatory frameworks are increasingly supportive of chemical recycling. In France, the IMPR (Incorporation of Recycled Plastics) decree of September 5, 2025, stipulates that for the incorporation of recycled plastics from difficult-to-recycle waste streams, a reward of up to 1000 euros per ton can be obtained. At the European level, the SUPD implementation decision adopted on February 6, 2026, recognizes chemical recycling and restricts the consideration of imported r-PET from outside the EU until November 21, 2027.

Against this backdrop, Carbios is confident it will sign new product pre-sale contracts for the future Longlaville plant within the coming months and achieve 70% of the plant’s future capacity.

Based on these developments, the Carbios board has approved the continuation of discussions on the financing structure required to restart the project, with the aim of achieving production at the Longlaville plant in the first half of 2028, subject to the finalization of financing.

Carbios has a solid cash reserve of approximately 60 million euros as of December 31, 2025, which is sufficient to cover the company's operating expenses for more than 12 months.

Cash burn for 2026, excluding the Longlaville project, is estimated at approximately €20 million. Carbios stated it will continue optimizing its operating costs.