IVL, Carbios launch JV for PET bio-recycling plant, France.

Sustainable chemical producer Indorama Ventures (IVL) and biotech firm Carbios have agreed to launch a joint venture for the construction of a PET bio-recycling plant in France. A portion of Carbios' equity injection into the JV will be financed by a part of Carbios' current cash position. Touted to be the world's first industrial-scale enzymatic PET bio-recycling plant, it will have the capacity to process about 50,000 tons of post-consumer PET waste per year, including waste that is not recyclable, which is equivalent to 2 billion PET-colored bottles or 2.5 billion PET trays. [Extracted from the article]