From the Sector

ITM Exhibitions will open its doors to host "ITM 2024 International Textile Machinery Exhibition" from June 4-8, 2024. Preparations are in full swing for the organization, where textile technology leaders will bring the latest products together with their visitors for the first time.

The ITM team focused on advertising and promotional activities in order to host thousands of visitors and sector investors from all over the world at the ITM 2024 Exhibition, which halls were almost full due to intense participation demands. In this context; 'ITM 2024 Video', which tells the story of the increasing success of ITM exhibitions over the years and which is eagerly awaited by the whole sector, has recently been published. The video, which was published in Turkish and English on social media accounts such as YouTube, LinkedIn, Instagram, Twitter and Facebook, was viewed by more than 30 thousand people in total and received great appreciation from the viewers.

“Discover the Future!” in the video prepared with the main theme “Discover innovations, technologies, the future...” and including clues about the ITM 2024 Exhibition, was revealed as follows:
The textile sector is among the souls of the economy with its production capacity, export volume, and contribution to employment. Many R&D centers around the world and in Turkey are breaking new ground by taking their work and innovations one step further every day. Textile technology leaders are developing technologies that consume less water and energy, are easy to use, are software and automation supported, keep up with trends and respect the environment while doing so. Industry stakeholders, especially textile manufacturers, are now curious about the answer to this question: 'What will be the future of the textile industry, which is digitalizing, complying with sustainability principles, and signing groundbreaking innovations? This question will be answered at ITM 2024, which will host the latest innovations, technologies, artificial intelligence-supported machines, software and design excellence devices in textile machinery.

Stahl, a leading provider of coating technologies for flexible substrates, has been awarded a Platinum rating by the sustainability rating agency EcoVadis for the second consecutive year. For the 2023 EcoVadis assessment, Stahl’s rating increased by three points compared to its 2022 score, reflecting the company’s improved performance in the area of labour and human rights.

Progress in the Labour & Human Rights category
The 2023 EcoVadis assessment revealed the progress Stahl is making in the Labour & Human Rights category, where Stahl scored 90 out of a possible 100 points. This reflects the company's recent work to improve its health and safety management systems. In particular, the majority of Stahl’s global manufacturing sites are now ISO 45001 certified and more than 94% are ISO 14001 certified. Stahl has also taken steps to improve its approach to employee career development and well-being. These include the creation of an individual career plan for all employees and the introduction of a new company-wide employee satisfaction survey.
 
Stahl moves forward with 2030 ESG ambitions
Stahl has set a 2030 target to maintain its EcoVadis Platinum rating by working closely with its value chain partners to help them reduce their impact. In 2022, 83% of Stahl’s total spend on raw materials was sourced from EcoVadis-rated suppliers.

EcoVadis is a globally recognised, evidence-based rating platform that assesses the performance of more than 90,000 organisations against key sustainability criteria across four categories: Environment, Labour & Human Rights, Ethics and Sustainable Procurement. For the 2023 EcoVadis assessment, Stahl received an overall score of 80 out of 100, up from 77 in 2022. This score indicates an advanced level of sustainability maturity and ensures that Stahl retains its Platinum rating. This is awarded to the top 1% of companies assessed by EcoVadis. Stahl achieved its first Platinum rating in 2022, having undergone its first EcoVadis assessment in 2015.

Die AZL Aachen GmbH, bekannter Innovationspartner für Industriekooperationen auf dem Gebiet der Leichtbautechnologieforschung, startet eines neuen Projekts mit dem Titel "Trends und Designfaktoren für Wasserstoffdruckbehälter". Das Projekt wird Fragestellungen der Industrie in Bezug auf die Wasserstoffspeicherung adressieren.

AZL Aachen GmbH, a recognized innovator in lightweight technologies research and industry collaboration, announces the initiation of a new project titled "Trends and Design Factors for Hydrogen Pressure Vessels". The project aims to address industry needs surrounding hydrogen storage.

Hydrogen has gained significant attention as a key technological solution for decarbonization, with high pressure storage and transportation emerging as vital components. Its applications extend from stationary storage solutions to mobile pressure vessels employed in sectors such as transportation and energy systems.

The AZL team, renowned for its high reputation in providing market and technology insights as well as developing component and production concepts in the format of Joint Partner Projects seeks for companies along the whole composite value chain interested in further developing their application know how in this economically highly relevant field.

The project will provide an in depth exploration of market insights, regulatory standards, and intellectual property landscapes. Beyond this, there is a dedicated focus on staying updated with state of the art and advancements in design, materials, and man ufacturing techniques.

An integral component of the project involves the creation of reference designs by AZL´s engineering team. The reference designs will encompass a variety of pressure vessel configurations and will consider a diverse range of materials and production concep ts.

With the scheduled project start in October 2023, and a project timeline of approximately nine months, AZL encourages companies active across the composite value chain to participate. Companies interested in participating or seeking further information should reach out directly to the AZL expert team.

Der Bundesverband Medizintechnologie (BVMed) hat für seine Branche einen Muster-Kodex Nachhaltigkeit veröffentlicht, der die wesentlichen Aspekte für nachhaltiges Handeln von Medizintechnik-Unternehmen zusammenfasst.

Mit diesem Muster-Kodex möchte der BVMed zu einem einheitlichen Branchenstandard beitragen. Er bietet MedTech-Unternehmen Orientierung in Nachhaltigkeitsfragen sowie die Möglichkeit, gegenüber Geschäftspartnern das eigene Nachhaltigkeitsverständnis zu verdeutlichen. Dabei geht der Muster-Kodex auf die drei Säulen der Nachhaltigkeit (sozial, ökologisch, ökonomisch) ein, bildet das dort geltende Recht ab und legt es einheitlich aus.

Übersicht der Inhalte des Muster-Kodex:

• Soziale Nachhaltigkeit: Einhaltung von Arbeitsschutzpflichten, Förderung von Diversität und Inklusion, Diskriminierungsfreiheit, Zahlung eines angemessenen und gleichen Arbeitslohns, Koalitionsfreiheit sowie Verbot der Sklaverei, Zwangs- und Kinderarbeit.
• Ökologische Nachhaltigkeit: Ressourcenschonung, Reduktion der CO2-Emissionen, Abfallreduktion und Recycling sowie Vermeidung von Umweltverschmutzung.
• Ökonomische Nachhaltigkeit und Governance: Verantwortungsvolle Unternehmensführung und Strategie sowie nachhaltige und transparente Lieferketten.

Der Muster-Kodex kann freiwillig von allen Unternehmen der Medizintechnologie für sich übernommen und um individuelle Selbsterklärungen erweitert werden.

Zur Umsetzung des Muster-Kodex Nachhaltigkeit gibt der BVMed drei Grundprinzipien vor:

• Egalitätsprinzip
  Gewährung eines unterschiedslosen Zugangs zu Medizinprodukten und damit verbundenen Gesundheitsleistungen. In Bezug auf Arbeitsbedingungen sollen vergleichbare Sachverhalte nicht ohne triftigen Grund ungleich behandelt werden.
• Vorrangprinzip
  Vorrang einer schonenden Verwendung von Ressourcen (Reduce – Reuse – Recycle) und der Einrichtung und Befolgung effizienter Prozesse.
• Vorsorgeprinzip
  Ergreifen von präventiven Maßnahmen, um negative ökologische und soziale Auswirkungen der wirtschaftlichen Tätigkeit zu vermeiden oder möglichst gering zu halten.

„Geschäftspartner:innen, Krankenhäuser und andere Stakeholder verlangen zunehmend von den Medizintechnik-Herstellern weitreichende Verpflichtungserklärungen zur Einhaltung des Lieferkettensorgfaltspflichtengesetzes. Mit unserem Muster-Kodex Nachhaltigkeit können die Unternehmen ihr soziales, ökologisches und ökonomisches Nachhaltigkeitsverständnis erklären“, so BVMed-Geschäftsführer und Vorstandsmitglied Dr. Marc-Pierre Möll. Der neue Muster-Kodex wurde vom BVMed gemeinsam mit der Anwaltskanzlei Clifford Chance entwickelt und durch das Bundeskartellamt geprüft. Er kann unter www.bvmed.de/kodex-nachhaltigkeit heruntergeladen werden.

Bereits 2022 gab das BVMed-Institut eine Nachhaltigkeitsstudie zur Bestimmung des sozialen, ökologischen und ökonomischen Fußabdrucks der MedTech-Branche in Auftrag. Die „SEE-Impact-Study der deutschen MedTech-Branche“ des WiFOR-Instituts setzte die Grundlage für eine umfassende Nachhaltigkeitsmessung der Lieferkette und damit einen neuen wissenschaftlichen Standard. Die Studie kann unter bvmed.de/branchenstudien eingesehen werden.

Aufgrund ihrer besonderen physikalisch-chemischen Eigenschaften – wasser-, fett- und schmutzabweisend sowie chemisch und thermisch stabil – sind Per- und Polyfluoralkylsubstanzen (PFAS) in vielen zukunftsrelevanten Technologien, aber auch Alltagsprodukten essenziell. Die hohe Stabilität der Verbindungen und ihre allgegenwärtige Verbreitung können auch Gefahren für Mensch und Umwelt, insbesondere in wässriger Umgebung und in Böden. PFAS sind teilweise toxisch, z. B. fortpflanzendgefährdend oder krebserregend. Die EU plant ein pauschales Herstellungs- und Einsatzverbot. Im Rahmen eines Informationsaustauschs besuchte NRW-Umweltminister Oliver Krischer die Cornelsen Umwelttechnologie GmbH, um gemeinsam mit Verantwortlichen der IHK, der ZENIT GmbH und der Business Metropole Ruhr GmbH über die künftigen Herausforderungen bei der Beseitigung von PFAS und im Speziellen über die Aufbereitungstechnologie PerfluorAd® zu sprechen. Ebenfalls dabei war das Fraunhofer UMSICHT als (Mit-)Erfinder der Technologie und Forschungspartner von Cornelsen.

Zukunftsrelevante Technologien wie Brennstoffzellen oder Li-Ionen-Batterien, Alltagsprodukte wie Outdoor-Textilien oder Kosmetika, diverse Funktionsbeschichtungen und Feuerlöschmittel enthalten PFAS. Für zahlreiche der genannten Anwendungen gibt es noch keine fluorfreien Alternativen. Der nationale Wasserstoffrat empfiehlt aus diesem Grund eine vertiefende Forschung und Ausnahmeregelungen, bis umweltfreundliche Lösungen verfügbar sind.

Aufbereitungskosten minimieren und Umwelt schonen
Das Fraunhofer UMSICHT und Cornelsen waren mit Beginn ihrer Forschungsaktivitäten zu PFAS im Jahr 2008 die Ersten in Deutschland, die sich mit deren anspruchsvoller Beseitigung aus kontaminiertem Grundwasser, Sickerwasser und Industrieabwasser beschäftigten. Gemeinsam wurde das patentgeschützte PerfluorAd®-Verfahren entwickelt, mit dem sich PFAS effektiv und kostengünstig aus Löschwasser entfernen lassen. Die am Brandort verbleibenden PFAS-haltigen Reste an Schaum bzw. Wasser werden direkt aufgefangen – z. B. in speziellen Löschwasser-Auffangbecken von Industrieanlagen. Die anschließende Aufbereitung und Dekontaminierung kann, je nach Begebenheit, vor Ort oder extern erfolgen.

Mittlerweile hat Cornelsen viele unterschiedliche Wasseraufbereitungsprojekte und Dekontaminierungen von PFAS-belasteten Systemen durchgeführt. Das PerfluorAd®-Verfahren ist auf weitere Anwendungsfälle übertragbar und lässt sich mit verschiedenen PFAS-Aufbereitungstechnologien wie Ionenaustausch, Membranverfahren oder Aktivkohleadsorption kombinieren.

Während Cornelsen die verfahrenstechnische Umsetzung verantwortet, hat das Fraunhofer UMSICHT in den Bereichen Analytik, Chemie und IP zum Gelingen des PerfluorAd®-Verfahrens beigetragen.

MAS Holdings, a global apparel & textile manufacturing and tech conglomerate, headquartered in Sri Lanka, secures a stake in HeiQ AeoniQ™ as part of its Plan for Change initiative to support the development of next-generation cellulosic filament fibers to replace polyester and nylon.

HeiQ from Switzerland and MAS Holdings entered a partnership for MAS to secure a stake in HeiQ AeoniQ GmbH, a subsidiary of HeiQ Group that will produce HeiQ AeoniQ™, a climate-positive cellulosic yarn.

With this investment, MAS Holdings becomes the first manufacturer to partner with HeiQ AeoniQ™ in their efforts to provide a sustainable alternative to polyester and nylon. The investment to be made by MAS Holdings is part of the group’s strategy to drive a positive environmental impact. The MAS Plan for Change aims to generate 50% of the company’s revenue through sustainable products by 2025, revolutionizing the textile industry with a focus on innovation, sustainable sourcing, and pioneering circularity at scale.

With the closing of this deal, HeiQ and MAS agreed to a 5-year Offtake Agreement for 3,000 tons of HeiQ AeoniQ™ yarn in 2025 and 5,000 tons per year from 2026 to 2029, valued by HeiQ in the aggregate to US$ 100 million. MAS will finalize this commitment within a stipulated time period after achieving milestone 1, and a mutual plan for commercialization. HeiQ and MAS firmly believe that rapid scaling is key to facilitating the fast adoption of sustainable, circular technologies such as HeiQ AeoniQ™.

The HeiQ AeoniQ™ pilot plant in Austria is manufacturing this revolutionary continuous cellulosic filament yarn since Q3 2022, with up to a 100 tons capacity to be upscaled up to 300 tons by the end of 2023.

The HeiQ AeoniQ™ production scale-up is planned to have its definitive boost by early 2026 with the construction of an entirely new gigafactory capable of a 30,000-ton output per year, in a 250M USD estimated investment.

Polyester and nylon, two oil-based fibers, virtually non-recyclable, account for about 70% of all the global textile production, they take between 350 to 1000 years to degrade in nature, are currently close loop recycled at less than 1%, and are at the origin of 35% of the microplastics that can be found in today's oceans. HeiQ AeoniQ™ was innovated and is being hyper-scaled up to change this course of action.

The Sorting for Circularity USA consortium project welcomes new partners and expands its North American geographical scope. Fashion for Good is pleased to announce the addition of lululemon as an external brand partner, joining the existing seven brand partners. They also welcome their new implementation partners Helpsy, United Southern Waste Material, Goodwill Industries International Inc., and its members Goodwill of Colorado, Goodwill Industries-Suncoast, Inc., Goodwill of the Finger Lakes, and Goodwill of San Francisco Bay. Additionally, Fashion for Good is pleased to recognise adidas as the project's lead sponsor, facilitating the complete realisation of the project scope.

Fashion for Good, together with Resource Recycling Systems, launched the Sorting for Circularity USA consortium project in January 2023. The project will conduct an extensive consumer survey to map the journey of a garment from closet to end of use, and present a comprehensive snapshot of textile waste composition generated in the United States. The insights gained from this 18-month project will help to scale collection, sorting, and recycling innovations and inform decisions on necessary investments and actions.

Within the first 6 months, the project has expanded to cover 6 key states: California, Texas, Florida, New York, New Jersey and Colorado. Additional implementation partners have also signed on to support the fibre composition data analysis: Secondary Materials and Recycled Textiles (SMART) Association, Helpsy, United Southern Waste Material, and Goodwill Industries International Inc., with its members Goodwill of Colorado, Goodwill Industries-Suncoast, Inc., Goodwill of the Finger Lakes, and Goodwill of San Francisco Bay. Resource Recycling Systems will drive the dissemination and analysis of the consumer survey together with New York State Center for Sustainable Materials Management and Syracuse University Center for Sustainable Community Solutions, and execute the textile composition analysis using Matoha’s near infrared devices with advisory support from Circle Economy.

Demonstrating the importance of pre-competitive collaboration in tackling the industry’s biggest challenges, lululemon joins Eastman, H&M and Nordstrom as key project partners, together with Fashion for Good corporate partners adidas, Inditex, Levi Strauss & Co., and Target. Adidas' lead sponsorship ensures a deeper analysis of USA textile waste infrastructure and the identification of valuable opportunities for advancement.

In the USA, textile waste is the fastest-growing segment of the country's waste stream, with 85% of discarded textiles ending up in landfills*. Understanding the composition of material, volume and location of used textiles is crucial for capturing them and sorting them for the best and highest quality end use. Moreover, the range of national and regional geographies within the Sorting for Circularity project series enables for nuanced cross-country comparisons - revealing differences in the textile waste generated and infrastructure required.

Sorting for Circularity, a framework co-developed by Fashion for Good and Circle Economy, aims to (re)capture textile waste by unlocking the feedstock potential for recycling, expedite the implementation of game changing automated sorting technologies such as near-infrared spectroscopy and advanced textile-to-textile recycling, and drive circularity within the fashion value chain. The project builds on the success of Sorting for Circularity Europe and India, which revealed insights on material composition, volume, and location of used textiles and provided a solid foundation to accelerate textile recycling in those respective geographical locations.

*United States Environmental Protection Agency (2019). National Overview: Facts and Figures on Materials, Wastes and Recycling.

• Project from the Global Organic Textile Standard, European Space Agency and Marple will use AI and satellite imagery to detect organic versus non-organic cotton fields
• Innovative demonstrator project explores the potential of remote monitoring to strengthen integrity and development of organic cotton cultivation
• Project will run across India with first results expected by the end of 2023

In a world first, the Global Organic Textile Standard (GOTS), European Space Agency (ESA) and AI company Marple have today launched a new demonstrator project that aims to show the potential for remote satellite monitoring of organic cotton cultivation systems.

The project, to be carried out under ESA’s Business Applications and Space Solutions (BASS) programme, will train artificial intelligence (AI) to use ESA satellite data to detect cotton fields across India and automatically classify them according to their cultivation standard. By integrating standardised yield metrics, this innovative approach will also enable GOTS to generate realistic estimates of organic cotton yields in specific areas.

Integrated with existing GOTS measures, this project will enable GOTS to further enhance the integrity of organic cotton by developing advanced risk assessment technology for organic certification and preventing fraud from the beginning of the supply chain. “It is an honour and very exciting to be a partner in this ESA Demonstration Project, and it is living up to our claim to be pioneers serving the sustainable textile sector to enable continuous improvement. Technologies like this will be a game changer regarding the integrity and promotion opportunities of organic cotton.” says Claudia Kersten, Managing Director of GOTS.

The project's anticipated impact extends beyond identifying certified organic cotton fields. It is expected to also empower GOTS to recognise cotton fields that have not yet obtained organic certification but possess the potential for a seamless transition to organic cultivation, thanks to their utilisation of traditional and ecologically friendly farming practices. This would enable GOTS to bring a greater number of farmers – particularly those of a smaller size – into the certified organic sector and supply chains, creating new economic opportunities for small-scale farmers and their communities while also helping the textile sector to meet growing consumer demand for organic cotton. Guillaume Prigent, Business Development and Partnerships Officer at the European Space Agency, adds: “This project highlights how space solutions can have a positive impact on the world and is the kind of innovation that ESA supports through its Business Applications and Space Solutions programme.”

The project will run across the distinct cotton growing regions in India, with first results expected by the end of 2023.

India project builds on successful Uzbekistan feasibility pilot
The project is co-financed by GOTS and ESA, in collaboration with Marple GmbH, a German software development firm that developed the CoCuRA (Cotton Cultivation Remote Assessment) software with ESA BASS and successfully piloted it in a feasibility project in 2021 in Uzbekistan.

That venture showed how the trained AI was able to accurately differentiate cotton fields from other crops using only satellite images and sensor data, as well as whether the cotton fields were cultivated organically.

This spurred considerable interest from GOTS, which has committed to the development of cutting-edge technologies that can improve the integrity of the organic textile sector, especially cotton. Dr David Scherf, co-founder of Marple, said: “All our projects strive to leverage advanced technology for a positive impact on the environment and society. We are therefore delighted that our CoCuRA technology, which emerged from a moonshot research project, is being applied in a practical and impactful way. We are excited about the opportunity to work with the exceptional team at GOTS and further strengthen our successful partnership with ESA.”

How does a future-proof, circular and sustainable plastics economy look like? The answer is a balance ranging from plastics reduction to a sustainable use of recyclable plastics. After all, the increasing demand for plastics in high-value applications such as food packaging, car parts or synthetic textiles requires a holistic change. With four strategic approaches, researchers from the German institute Fraunhofer UMSICHT and the Dutch institute TNO now provide insights into how this future scenario could look like in their recently published white paper "From #plasticfree to future-proof plastics". Both organizations also start a hands-on platform for plastics in a circular economy: European Circular Plastics Platform – CPP aimed at removing existing barriers and sharing of promising solutions.

Versatile and inexpensive materials with low weight and very good barrier properties: That's what plastics are. In addition to their practical benefits, however, the materials are also associated with a significant share of mankind's greenhouse gas emissions. The production and use of plastics cause environmental pollution and microplastics, deplete fossil resources and lead to import dependencies. At the same time, alternatives - such as glass packaging - could cause even more environmental burden or have poorer product properties.

Researchers from TNO and Fraunhofer UMSICHT have elaborated a white paper that provides a basis for the transformation of plastics production and use. They consider the integration of the perspectives of all stakeholders and their values and the potential of current and future technologies. In addition, the functional properties of the target product, the comparison with alternative products without plastics, and their impact in a variety of environmental, social and economic categories over the entire life cycle are crucial. In this way, a systematic assessment and ultimately a systematic decision as to where we can use, reject or replace plastics can be realized.

Strategies for the Circular Economy
As a result, the researchers describe four strategic approaches for transforming today's largely linear plastics economy into a fully circular future: Narrowing the Loop, Operating the Loop, Slowing the Loop, and Closing the Loop. By Narrowing the Loop, the researchers recommend, as a first step, to reduce the amount of materials mobilized in a circular economy. Operating the Loop refers to using renewable energy, minimizing material losses, and sourcing raw materials sustainably. For Slowing the Loop, measures are needed to extend the useful lifetime of materials and products. Finally, for Closing the Loop, plastics must be collected, sorted and recycled to high standards.

Individual strategies fall under each of the four approaches. While the ones under Operating the Loop (O strategies) should be applied in parallel and as completely as possible. According to the researchers, the decision for the strategies in the other fields (R strategies) requires a complex process: “Usually, more than one R-strategy can be considered for a given product or service. These must be carefully compared in terms of their feasibility and impact in the context of the status quo and expected changes”, explains Jürgen Bertling from Fraunhofer UMSICHT. The project partners have therefore developed a guiding principle for prioritization based on the idea of the waste hierarchy.

A holistic change, as we envision it, can only succeed if science, industry, politics and citizens work together across sectors. “This implies several, partly quite drastic changes at 4 levels: legislation and policy, circular chain collaboration, design and development, and education and information. For instance, innovations in design and development include redesign of polymers to more oxygen rich ones based on biomass and CO2 utilisation. Current recycling technologies have to be improved for high quantity and quality recycling,” explains Jan Harm Urbanus from TNO.

Hands-on platform for cross-sector collaboration
“Therefore, in a next step, TNO and Fraunhofer UMSICHT are building a hands-on platform for plastics in a circular economy: European Circular Plastics Platform – CPP," explains Esther van den Beuken, Principal Consultant from TNO. It will give companies, associations and non-governmental organizations the opportunity to work together on existing barriers and promising solutions for a Circular Plastics Economy. The platform will also offer its members regular hands-on workshops on plastics topics, roundtable discussions on current issues, and participation in multi-client studies on pressing technical challenges. Regular meetings will be held in the cross-border region of Germany and the Netherlands as well as online. The goal is to bring change to the public and industry.

Indorama Ventures Public Company Limited (IVL) and Carbios, a biotech company developing and industrializing biological solutions to reinvent the life cycle of plastic and textiles, announce the signing of a non-binding Memorandum of Understanding (MOU) to form a Joint Venture for the construction of the world’s first PET biorecycling plant in France.  

Based on and subject to the comprehensive terms set out in the MOU, Indorama Ventures plans to mobilize about €110 million for the Joint Venture in equity and non-convertible loan financing , pending final engineering documentation and final economic feasibility studies. Both parties have acknowledged their mutual support for the implementation of the project and their intent to finalize contract documentation before end 2023.

Subject to the successful performance of this first plant in France, Indorama Ventures confirms its intention to potentially expand the technology to other PET sites for future developments.

Under the agreement signed June 1, Carbios, which filed for plant permitting in December 2022, should acquire 13ha land from Indorama Ventures’ existing PET plant at Longlaville and expects to be granted permits by Q3 2023, allowing start of construction by end of 2023 and targeted commissioning in 2025.  The land surface offers the possibility to double capacity. Pursuant to this MOU, Indorama Ventures shall ensure 100% of output repolymerization and both partners shall collaborate to secure feedstock supply.

The total capital investment for the new plant is re-estimated to be around €230 million, taking into account recent impact from inflation. Project costs shall be financed by the sums mobilized by Indorama Ventures, the French State and Grand-Est Region subsidies available for the project , and by equity capitalization of the Joint Venture by Carbios. Part of Carbios’ equity injection into the Joint Venture shall be financed by a portion of Carbios’ current cash position (i.e. €86 million as of 30 April 2023). Carbios is actively examining the best options to finance its remaining equity injection into the Joint Venture and will choose the most appropriate solution and timeline based on market conditions.

The project is part of Indorama Ventures’ Vision 2030 ambition to build on its leadership as a global sustainable chemical company. The company’s ESG commitments include spending $1.5 billion to increase its recycling capacity to 50 billion PET bottles per year by 2025 and 100 billion bottles per year by 2030. To meet these goals, Indorama Ventures, the world’s largest producer of recycled PET resin used in beverage bottles, is investing in new recycling technologies, including advanced recycling, in addition to expanding its global footprint of mechanical recycling sites, including two in France.

Carbios has developed a disruptive enzymatic depolymerization technology that enables efficient and solvent-free recycling of PET plastic and textile waste into virgin-like products with an aim to achieve true circularity. Carbios has ambitious plans to become a leading technology provider in advanced recycling of PET by 2035. After successful ongoing operations in its demonstration plant in Clermont-Ferrand in France, Carbios has been collaborating with Indorama Ventures for over a year to assess the commercial and technical feasibility of the technology. The world’s first industrial-scale enzymatic PET recycling plant at Longlaville will have a capacity to process about 50,000 tons of post-consumer PET waste per year, including waste that is not recyclable mechanically, equivalent to 2 billion PET colored bottles or 2.5 billion PET trays.