Rieter: Changes In The Group Executive Committee

WINTERTHUR, Switzerland — June 7, 2023 — Kurt Ledermann, CFO at the Rieter Group since 2019, is to leave the Group Executive Committee in August 2023 for personal reasons to pursue a career opportunity outside the Rieter Group. The Board of Directors wishes to express its gratitude to Kurt Ledermann in advance for his valuable service and his contribution to the further development of Rieter. Details about succession arrangements shall be provided in due course.

Posted: June 7, 2023

Source: Rieter Holding Ltd.

National Retail Federation: Imports For First Half Of 2023 Expected To Be 22% Below Same Time Last Year

WASHINGTON — June 7, 2023 — Import cargo volume at the nation’s major container ports is expected to be 22% lower during the first half of 2023 than the same time last year despite increased consumer spending, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates. The report comes amid disruptions at West Coast ports but the incidents have not yet been widespread enough to be reflected in nationwide data.

“Cargo volume is lower than last year but retailers are entering the busiest shipping season of the year bringing in holiday merchandise. The last thing retailers and other shippers need is ongoing disruption at the ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “If labor and management can’t reach agreement and operate smoothly and efficiently, retailers will have no choice but to continue to take their cargo to East Coast and Gulf Coast gateways. We continue to urge the administration to step in and help the parties reach an agreement and end the disruptions so operations can return to normal. We’ve had enough unavoidable supply chain issues the past two years. This is not the time for one that can be avoided.”

NRF earlier this week issued a statement calling on the Biden administration to intervene following reports of disruptions at terminals at the Ports of Oakland and Long Beach. The disruptions have come as the International Longshore and Warehouse Union and the Pacific Maritime Association have failed to reach a new labor agreement after more than a year of negotiations.

“Economists and shipping lines increasingly wonder why the decline in container import demand is so much at odds with continuous growth in consumer demand,” Hackett Associates Founder Ben Hackett said, noting that spending has been bolstered by strong employment numbers and increases in personal income. “Import container shipments have returned the pre-pandemic levels seen in 2019 and appear likely to stay there for a while.”

U.S. ports covered by Global Port Tracker handled 1.78 million Twenty-Foot Equivalent Twenty-Foot Equivalent Units – one 20-foot container or its equivalent – in April, the latest month for which final numbers are available. That was up 9.6% from March but down 21.3% year over year.

Ports have not yet reported May numbers, but Global Port Tracker projected the month at 1.84 million TEU, down 23% year over year. June is forecast at 1.91 million TEU, down 15.3% from the same month last year. That would bring the first half of 2023 to 10.5 million TEU, down 22.3% from the first half of 2022.

July is forecast at 1.99 million TEU, down 8.8% year over year; August at 2.02 million TEU, down 10.5%; September at 1.95 million TEU, down 4%, and October also at 1.95 million TEU, down 2.7%.

Global Port Tracker has not yet forecast the full year, but the third quarter is expected to total 5.97 million TEU, down 7.9% from the same time last year, and the first nine months of the year should total 16.48 million TEU, down 17.6% year over year. Imports for all of 2022 totaled 25.5 million TEU, down 1.2% from the annual record of 25.8 million TEU set in 2021.

Global Port Tracker, which is produced for NRF by Hackett Associates, provides historical data and forecasts for the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast. The report is free to NRF retail members, and subscription information is available at NRF.com/PortTracker

Posted: June 7, 2023

Source: National Retail Federation (NRF)

Program Announced For RISE® 2023 – Research, Innovation & Science For Engineered Fabrics

CARY, NC — June 7, 2023 — The theme for the 13th edition of RISE® (Research, Innovation & Science for Engineered Fabrics) is “A New Era in Manufacturing for Sustainability.” Technology scouts, product managers, senior scientists, development engineers, and business developers will convene September 26-27 at North Carolina State University and The Nonwovens Institute in Raleigh, NC to discover the latest nonwoven innovations.

The RISE conference program features industry leaders from these companies: American Truetzschler, Berry Global, Dilo Incorporated, Evonik Corporation, Indorama Ventures USA, MANN+HUMMEL, the National Renewable Energy Laboratory, NatureWorks, The Nonwovens Institute, Owens Corning, PCI Wood Mackenzie, PolyQuest, Reifenhäuser REICOFIL GmbH, and Simplifyber. These industry experts will discuss the future of nonwoven manufacturing, advances in filter media, rPolymer developments, and sustainable applications.

Innovations that advance the nonwovens industry will be recognized with the 2023 RISE® Innovation Award. Three finalists will present their innovative products or technologies to RISE participants, Tuesday, September 26th. Nominations for the award are being accepted through June 19th. The 2022 award winner was DiaperRecycle, cat litter made from recycled diapers.

RISE participants have the option of touring The Nonwovens Institute’s $65 million-plus, 60,000 square-foot facilities featuring state-of-the-art equipment, pilot lines, and analytical laboratories, as well as attending an evening reception at the Lonnie Pool Golf Course Clubhouse. During the evening reception, graduate students and faculty from North Carolina State University will feature their research and technical advances with poster presentations. The tour and reception will take place Tuesday, September 26th and the tour is limited to 40 attendees. An RSVP is required.

For more details on the RISE program, or to register, visit the RISE website. https://www.riseconf.net/

Posted: June 7, 2023

Source: INDA, the Association of the Nonwoven Fabrics Industry

Acting Assistant U.S. Trade Representative For Textiles, Dr. Laurie-Ann Agama, Tours U.S. Textile Industry; Participates In Industry Roundtable

WASHINGTON, D.C. — June 7, 2023 — Dr. Laurie-Ann Agama, Acting Assistant U.S. Trade Representative (USTR) for Textiles, wrapped up a three-day visit of state-of-the art U.S. textile manufacturing facilities in North and South Carolina today, highlighting the importance of trade policies that bolster the competitiveness of the vibrant domestic supply chain that contributes significantly to the U.S. economy and workforce.

Dr. Agama, who advises the nation’s top trade chief on textile and apparel trade policy matters and conducts and oversees negotiations affecting textiles and apparel products, was joined by USTR textile trade officials in touring seven textile manufacturers including: Glen Raven, Barnet, Standard Textile, Parkdale Mills, Beverly Knits, Gildan, and Unifi.

Her three-day tour culminated today in an industry roundtable discussion with key textile executives hosted by Unifi, in Greensboro, N.C.

U.S. textile executives spanning the fiber, yarn, fabric, and finished product textile and apparel industries participated in the roundtable and outlined critical policies, such as: the importance of maintaining the yarn forward rule of origin in the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) and other trade agreements; advancing the Miscellaneous Tariff Bill (MTB) and its importance to domestic manufacturers; closing the de minimis loophole in U.S. trade law; addressing larger systemic trade issues, particularly the use of forced labor, with China; and upholding buy American and Berry Amendment government procurement policies.

“We deeply appreciate Assistant USTR Agama’s visit to the heart of the U.S. textile industry in North and South Carolina this week to meet with U.S. textile executives and experience first-hand the breadth of the industry’s innovation, advanced sustainability practices, capital investments and critical contributions to local economies and the U.S. economy as a whole,” said Kim Glas, president and CEO of NCTO. “The three-day visit by Dr. Agama and the USTR textile team included facility tours of several NCTO member companies, all of which have made major investments in state-of-the-art manufacturing facilities that are part of a broader domestic industry supply chain that produced $65.8 billion in output in 2022 and employed 538,000 workers.”

Glas continued: “We are also grateful for Dr. Agama’s participation in the industry roundtable hosted by Unifi and substantive discussions around policy opportunities and challenges. We look forward to working closely with Dr. Agama, the USTR textile team and U.S. Trade Representative Ambassador Katherine Tai to advance policies that provide incentives for onshoring and nearshoring production and bolstering the industry’s competitiveness, while enforcing policies that address illegal trade practices that undermine this industry.”

“The U.S. textile industry has always been resilient, innovative, and a driving force of our nation’s competitiveness,” said Acting Assistant U.S. Trade Representative for Textiles Dr. Laurie-Ann Agama. “For USTR, this local engagement and conversations underscore our need to create trade policies that put workers first and promote inclusive economic growth. The spinning, knitting, and weaving operations of the textile industry are at the center of many communities across the Carolinas. This was another opportunity to hear first-hand how we trade can create jobs that allow workers, businesses, and communities to thrive.”

Posted: June 7, 2023

Source: National Council of Textile Organizations (NCTO)

China Gaotang Building An Open And Inclusive Modern Manufacturing Industry New City

LIAOCHENG, China — June 6, 2023 — This is a report from the Shandong office of the Hong Kong Business Daily. Gaotang County, Liaocheng City, Shandong Province is a beautiful, open, vibrant, and progressive city. It is the hometown of Chinese traditional painting master Li Kuchan, with a recorded history of over 2800 years and is known as the “Golden Gaotang”. Enjoy 20 national honors such as “Hometown of Chinese Calligraphy and Painting Art”, “Hometown of Chinese Folk Culture and Art”.

China’s Gaotang Industrial Cluster has formed seven major industrial clusters, including equipment manufacturing, pulp and paper making, new materials, health functional food, modern efficient agriculture, textile and clothing, and sheet metal processing. We have cultivated a group of advantageous enterprises such as Shifeng Group, a Fortune 500 global machinery manufacturing enterprise and a national super large enterprise, Fenmei Packaging Company, the first overseas listed enterprise in Liaocheng City and the third largest producer of aseptic packaging materials for liquid food globally, the first batch of manufacturing single champion enterprises in Shandong Province, and Aokete Group, a gazelle enterprise.

China Gaotang has a complete range of industrial categories and distinct industrial characteristics, attracting well-known enterprises such as Taiwan Terminal, Italy Baiarez, and Guodian Investment to settle in, with 18 enterprises entering the capital market through listing. At present, the number of industrial enterprises above designated size in Gaotang County has increased to 170, and the number of national high-tech enterprises has reached 28. The output value of high-tech industries accounts for 45% of the total output value of industrial enterprises above designated size.

China Gaotang builds a green and innovative “1222” manufacturing industry system, focusing on high-end equipment manufacturing, strengthening advantageous industries, developing emerging enterprises, transforming traditional industries, and promoting new vitality in the industry. High level construction of industrial parks and the construction of an industrial pattern with “one zone leading and overall coordination”. Firmly establish the concept of “project as king”, introduce and implement a batch of major projects, and cultivate and strengthen a group of leading enterprises. Boost the transformation, upgrading, and technological transformation of enterprises, vigorously promote the deep integration of manufacturing with big data, the Internet, and artificial intelligence, and promote enterprises towards high-end, intelligent, and green development. In the future development, Gaotang County will prioritize strengthening industries and accelerate the enhancement of Gaotang’s economic and comprehensive strength.

Posted: June 6, 2023

Source: Shandong Office of Hong Kong Business Daily

Ambercycle And Shinkong Synthetic Fibers Form Strategic Partnership To Scale Production Of Circular Materials

LOS ANGELES — June 6, 2023 — Ambercycle, an innovator in circular materials, and Shinkong Synthetic Fibers Corporation are excited to announce a strategic partnership to enable circularity in apparel. The collaboration aims to accelerate the production of high-quality performance yarns using Ambercycle’s regenerated cycora® material, in response to the heightened demand of the industry. Textile-to-textile regenerated materials will radically improve the sustainability of apparel supply chains by reducing emissions, minimizing reliance on virgin resources, and diverting end-of-life textiles away from landfills.

Since 2021, Ambercycle and Shinkong Synthetics have worked closely to develop and manufacture premium performance yarns containing cycora® material. “Ambercycle’s product quality is one of the best regenerated polyesters made from landfill-destined textile waste available in the market or in the development phase worldwide. We are able to make performance specialty yarn products with cycora® that are not able to be made with other materials,” said Sam Hu, Division General Manager at Shinkong Synthetics. “Both Ambercycle and Shinkong Synthetics share a long-term orientation and unwavering commitment to achieving true circularity in apparel.”

By harnessing Shinkong Synthetics’ world-class manufacturing capabilities and Ambercycle’s expertise in molecular regeneration technology, this partnership is uniquely positioned to rapidly scale the manufacturing of regenerated filament yarn. Both parties are exploring the construction and operation of a commercial-scale manufacturing facility, under an executed memorandum of understanding (MoU).

Shay Sethi, co-founder and CEO at Ambercycle, underscored the alignment between the two companies, stating, “Ambercycle’s focus on novel circular product creation aligns perfectly with Shinkong’s desire to enhance their sustainable offerings by adopting cycora® regenerated polyester. We are moving quickly to scale our production capabilities, and thus make circular materials available and accessible as soon as possible.”

Currently less than 1% of all end-of-life textiles are recycled via closed-loop systems. Replacing virgin inputs with textile-to-textile regenerated materials is one of the most impactful actions the apparel industry can take towards decarbonizing its supply chain. Commercial-scale production resulting from this partnership will enable brands and manufacturers to seamlessly integrate and commercialize circular materials within their existing supply chains. The collaboration signifies a momentous step toward the industry’s transition to a future where circular products become the norm.

Posted: June 6, 2023

Source: Ambercycle

Carbios Aims To Be A Leader In Growing r-PET Market With An Ambition To Capture 8 To 12-Percent Share By 2035 Through Licensing Model

CLERMONT-FERRAND, France — June 6, 2023 — Carbios, a biotech company pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, will hold its 2023 Strategic Update today at 2pm CET in which it provides details of its business model for 2030 and 2035. Carbios announces its ambition to be a leading player in the global r-PET market by capturing between 4 and 8% of market share by 2030 and between 8 and 12% by 2035.

  1. A VALUE-CREATING BUSINESS MODEL

Carbios’ business model, based on the licensing of its unique PET biorecycling technology2, relies on a CapEx lean approach and 3 sources of revenue (upfront payments and two recurring revenues streams detailed below). This business model will be applied to all plants, including the first plant in Longlaville:

(i) the granting of licenses for the use of its know-how and intellectual property: they will generate revenues in the form of upfront payments paid by the licensee based on the installed capacity for an amount ranging from €100 to €200 per ton;

(ii) royalties from the sale by Novozymes of Carbios proprietary enzymes directly to manufacturers using Carbios’ technology. This revenue stream will result from a portion of the margin realized by Novozymes (according to mutually exclusive long-term partnership agreement) on the sale of the fully patented Carbios enzyme to the licensee. This revenue stream will be proportional to the volume of enzymes sold;

(iii) royalties from the premium generated by manufacturers from the sale of biorecycled PET.

The two royalty streams (ii) and (iii) are estimated at around €250 or more per ton of r-PET produced3.

In a dynamic global r-PET market, Carbios’ ambition is to position itself as a world leader to capture 4 to 8% of this market by 2030 and between 8 to 12% by 20354.

In its constant efforts to expand its innovation pipeline and extend its proprietary technologies to other polymers, especially polyamides and polyolefins, with first patents expected from 2023, R&D and Industrial costs5 are expected to increase by 15 to 20% on a yearly basis until 2035 and SG&A (Selling, General & Administrative)6 expenses are expected to increase in the meantime by 8 to 10%, mainly to support the Company’s licensing and commercial efforts.

From a licensing standpoint, payback is expected to be below 7 years from start of investment for a 100kt plant and provide an Internal Return Rate above 20%. The Company also expects its first plant in Longlaville to be cash positive from operations within the first year of commissioning, with commissioning due in 2025.

  1. ADVANTAGES OF CARBIOS BIORECYCLING TECHNOLOGY

Carbios has defined 6 key advantages for its enzyme-based biorecycling technology compared with current recycling technologies:

“Plug & Play”

Since PTA and MEG are used in more than 95% of existing PET production plants, PET producers can easily switch to Carbios PTA and MEG monomers derived from plastic waste as an alternative feedstock to petro-sourced monomers. This differs from chemical recycling, which produces DMT and MEG (or BHET) monomers which represent less than 5% of global capacities7. Consequently, Carbios’ technology seamlessly integrates into the vast majority of existing PET manufacturing processes hence avoiding CapEx and significant environmental impact.

100% PET waste types

Thanks to its highly selective enzyme used in the process, Carbios PET biorecycling technology allows the processing of all types of PET waste, including waste that is difficult or impossible to recycle with current technologies (colored, opaque, multi-layer packaging, industrial textile and consumer clothing). This allows high flexibility in terms of feedstock mix, therefore maximizing the local sourcing potential and decreasing the waste mix average stock.

Circularity per industry

Carbios’ technology allows for circularity by industry, such as fiber-to-fiber circularity, which avoids feedstock competition between textile and packaging industries. Carbios’ technology can transform low-quality feedstock into food-grade PET and produce transparent and high-grade bottles regardless of packaging flakes quality, therefore avoiding the downcycling of bottle waste into fibers.

Enhanced circularity

Compared to current recycling technologies which only allow few cycles, Carbios PET biorecycling technology maximizes the number of cycles while preserving quality. There is no degradation of r-PET quality throughout cycles because Carbios’ technology returns to the two monomer components (PTA and MEG), hence avoiding new oil and gas use to produce PET. At demo scale, the overall recovery of the process reaches 90% on plastic waste made of 100% PET content. The overall recovery will vary depending on the amount of PET content in the feedstock.

Virgin-like quality

Carbios r-PET has the same mechanical and technical properties as virgin PET, including high food-grade quality. This means that Carbios r-PET is suitable for any PET applications. Bisphenol-A free and issued from a hydrolysis process, Carbios r-PET ensures consumer’s health security.

-51% CO2 emissions vs one cycle of virgin PET production8

Carbios’ technology uses a soft process: it does not require organic solvents and the low temperatures during depolymerization, among other factors, result in a 51% reduction in CO2 emissions compared to the production of virgin PET (taking into account a conservative hypothesis of diversion of 50% PET waste from a conventional end-of-life).

  1. LICENSING STRATEGY UNVEILED

The industrial demonstration plant, installed in Clermont-Ferrand in September 2021, has been fully operational since July 2022. The process documents required for the first industrial plant, and the Technical Information Summary needed for international prospection to license Carbios’ PET biorecycling technology, were finalized in April 2023. This step marked the start of Carbios’ licensing strategy global implementation.

The standard timeline for licensing is divided into two parts: prospects technology promotion (lasts approximately 12 to 18 months), and after the license has been granted until plant start-up (lasts approximately 36 months). Different fees are generated at different stages of the timeline, with the first license fee received upfront upon signature of the licensing contract. At this stage, engineering documentation including the Process Design Package and Process Book are delivered for the design and construction of licensed plants and to allow the transfer of Carbios PET biorecycling technology to license holders. Other fees will be received up to commissioning and beyond (for additional services such as training, engineering consulting, assistance for start-up).

Multiple industries interested in Carbios’ technology

PET producers and chemical companies are natural potential customers for a technology that allows a true circularity for PET with alternative feedstock to petro-sourced monomers, and that is fully compatible with existing polymerization plants. By providing value to all possible sources of PET feedstock including complex plastic packaging and textile waste, Carbios also aims to reach out to other players in the value chain such as waste management companies and public entities. Carbios’ technology also provides a solution to brand owners in order to meet growing regulatory requirements as well as their own ambitious sustainability objectives for the inclusion of r-PET in their products and packaging. Public entities municipalities, impact and infrastructure funds as well as sovereign funds could also be interested in investment opportunities.

Depending on the targeted prospects, Carbios intends to adapt its portfolio of plant capacities operated under license with varying sizes: small plants around 20ktpa unit for specialty polymer players, medium plants at 50ktpa for regional partnerships, and large plants at 200ktpa for main production hubs.

Carbios is targeting three regions for its licensing prospection: EMEA, North America and South-East Asia.

  1. R-PET MARKET

Advanced r-PET market forecast

Carbios presents today its mid-term vision for the r-PET market forecast, and it is confident to take the lion’s share of the advanced r-PET market, predicting +/- 38% market share of advanced r-PET by 2050, equivalent to 23% of the total r-PET market.

In a booming global r-PET market, where market growth is expected to almost double in 25 years from 101mt in 2025 to 186mt by 20509, r-PET could represent 50% of the total PET market by 2050 (according to Carbios’ estimates taking into consideration improved textile collecting and sorting, use of textile feedstock and advanced recycling scale-up). Within the r-PET market, advanced r-PET is the fastest growing segment with annual growth expected to be more than 17% (vs total r-PET market growth of 8,4%)10. By 2050, advanced recycling could represent 56mt, equivalent to more than 200€ billion market value.

Carbios predicts that growth in mechanical r-PET will be constrained by limited availability of feedstock able to be processed by this technology. Virgin PET will also be limited due to lower demand for petro-sourced materials led both by brands’ sustainability ambitions and governmental regulations worldwide.

Consumer behavior and cost impact

Consumers are also pushing brands, and eco-friendly packaging is an increasingly important factor guiding consumer purchasing decisions. Consumers are willing to pay more for such packaging, and Carbios estimates that the impact of including advanced r-PET will be insignificant on consumer purchasing power, ranging from a few cents for a bottle of water to less than 1€ for a 100% polyester fleece jacket.11

  1. FIRST INDUSTRIAL PLANT TO START CONSTRUCTION IN 2023

Joint Venture with Indorama Ventures

Carbios and Indorama Ventures recently jointly announced the signing of a non-binding Memorandum of Understanding (“MOU”)12 to form a Joint Venture for the construction of the world’s first PET biorecycling plant. This plant will be built in the Grand-Est Region of France. The Joint Venture equity will be split 75% Carbios and 25% Indorama Ventures. The main objectives of the industrial plant will be to generate revenue from industrial and commercial activities, deliver first tons to partnering Brand Owners and other market players, and train future licensees at large scale. Indorama Ventures confirms intention to potentially expand the technology to other PET sites for future developments. The business model for this plant will be identical to Carbios’ licensing model (see section 1 above).

Construction timeline on schedule

The construction timeline is on schedule with planning permission filed in December 2022, start of construction, recruitment and training of plant staff planned for end of 2023, and commissioning of the plant due in 2025.

The plant is designed to maximize circularity with high product quality, energy and waste minimization and improvement add-ons such as increasing textile feedstock, the reuse and recycling of process water.

Feedstock sourcing

Carbios secured an initial source of supply for its future plant by winning part of the CITEO tender for the biorecycling of multilayer trays. The consortium consisting of Carbios, Wellman (a subsidiary of Indorama Ventures) and Valorplast has been selected for 30% of the tonnages proposed by CITEO. The part of the stream consisting of multilayer food trays will be handled by Carbios starting from 2025 at its plant in Longlaville.

Carbios is in discussions with other players to secure the yearly 50kt of waste expected for the plant’s full capacity. Carbios estimates that the feedstock potential for the Longlaville plant could reach 400kt in 2023 and is expected to increase to 500kt in 2030 due to higher rates of selective collection.

The overall sourcing strategy for Carbios is to minimize the use of bottles as this is an expensive feedstock, and to diversify the mix to include food trays, fines and textile waste for increased competitiveness.

Total capital expenditure re-estimated at €230 million

The total capital expenditure for the new plant has been re-estimated at €230 million, versus initial estimation at 200M€, considering recent impact from inflation. This increase reflects the macroeconomic situation and the effects of inflation impacting the industry as a whole but remains competitive with a much lower CapEx per ton compared to other advanced recycling projects announced in France. Moreover, Carbios believes that future sites could benefit from potential CapEx optimization.

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 financing13, pending final engineering documentation and final economic feasibility studies.

Furthermore, Carbios has been selected for €42.5 million in funding from the French State via France 2030 (€30 million of the total amount) and the Grand-Est Region (the remaining €12.5 million). The implementation of this funding is conditional the European Commission’s approval of the corresponding state aid scheme, followed by the conclusion of national aid agreements.

Longlaville project costs shall be financed for €152,5 million (i.e 65%) by the sums mobilized by Indorama Ventures and the French State and Grand-Est Region aids available for the project. The remaining amount shall be financed 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).

Potential Equity Financing

Carbios is also 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. In the event of any decision to use equity financing, the Company’s shareholders will be given priority.

  1. ENZYME PERFORMANCE UPDATE

Since the publication of an article in Nature in 2020, Carbios has continued to optimize and improve its enzyme performance, notably to be more thermostable and more active. The final conversion reached at depolymerization phase is 98% to date (versus 93% published in Nature), which represents an increase in production of 5%.

At 98%, Carbios’ enzyme continues to largely outperform published academic ones.

This proprietary enzyme will be used in 2025 in the first industrial plant, and Novozymes will optimize the micro-organism that produces the enzyme for full-scale enzyme production during the second half of 2023.

To pursue its research into the optimization and continuous improvement of its enzymatic technology, Carbios has recently been granted total funding of €11.4 million by the French government as part of France 2030, including €8.2 million directly for Carbios (o/w €5 million in the form of a repayable advance) and €3.2 million with its academic partners INRAE14 , INSA15 and CNRS16 via the TWB17 joint service and TBI18 research units.

The total of French aids in 2023 is 54 million euros, following the 30 million euros loan obtained in 2022 from the European Bank of Investment.

  1. FIRST SALES OF PLA BIODEGRADATION SOLUTION EXPECTED BY 2024

The PLA market is expected to grow with global production increasing from 400kt in 2022 to 700kt in 2026. Carbios plans to make its first sales in the US at the end 2023 or beginning of 2024.

Food Contact Notification is in the final stages with approval from the US Food and Drug Administration (FDA) before end of 2023 and will enable commercial roll-out of this proprietary technology. Approval from the European Food Safety Authority (EFSA) will follow.

  1. PIPELINE EXPANSION TO OTHER PLASTICS

Carbios’ mission is to bring all types of plastics into the circular economy. Carbios recently published an article entitled “Enzymes’ power for plastics degradation” in Chemical Reviews, one of the 10 most influential scientific journals in the world, in collaboration with its academic partners Toulouse Biotechnology Institute (TBI19) and the University of Bordeaux. This article marks a turning point for Carbios in the search for enzymes to degrade plastics other than PET and PLA.

With its strong R&D infrastructure and established partnerships, Carbios can develop its portfolio of innovations on different types of plastic more rapidly. Future polymers of interest, such as polyamides (including nylon) or polyolefins (polyethylene/polypropylene), will benefit from this acceleration of the R&D phase. These types of plastic will open up to other markets, such as, for polyamides, automotive and electronics markets, and a growing global market estimated to be 30 billion dollars with currently very few recycling technologies available.

Protection of innovations

From 2023, one of the key focus areas for the Intellectual Property team will be to protect innovation related to enzymatic degradation of other polymers and ensure that Carbios stays ahead of the game. Carbios’ proactive policy with regards to IP ensures that innovations are protected all along their lifetime.

Posted: June 6, 2023

Source: Carbios

Ecovative Raises More Than $30 Million, Funding Global Distribution Of Planet-Friendly Fashion And Food

GREEN ISLAND, N.Y. — June 6, 2023 — Ecovative Design LLC, a mycelium technology company, today announced the initial closing of a Series E round of over $30 million. $15 million of the raise is being reinvested into its MyForest Foods Co. subsidiary, founded in 2020. The funding will support Ecovative’s plans to scale its Forager business into a world-class supplier of sustainable textile and foam products, while the investment into MyForest Foods will support its retail growth as its footprint expands across the Eastern Seaboard. The latest fundraising round was led by Viking Global Investors and includes Standard Investments, FootPrint Coalition Ventures, and AiiM Partners, bringing the total raised by Ecovative to date to $120 million. Citi served as advisors on the transaction.

“The innovative products of Ecovative are addressing environmental sustainability goals via a business approach in the food and materials industry. It is an exciting business.” — Feike Sijbesma, Former CEO DSM

As students 16 years ago, Eben Bayer and Gavin McIntyre created the first mycelium materials. They then went on to found Ecovative, the first company to introduce mycelium materials as a commercial category. It continues to lead in the commercialization and scaling up of mycelium technologies in industries including fashion and apparel, automotive, food, packaging, and construction.

  • Over the last year, Ecovative has taken major steps to scale sustainable mycelium technologies:
  • Commissioned 120,000 sqft of new manufacturing facilities for mycelium bacon, textiles and foams.
  • Built and handed off operations of the world’s largest AirMycelium™ farm.
  • Entered into product development agreements with over 15 leading global brands for fashion and footwear.
  • Acquired a state-of-the-art raw materials facility in the Netherlands.
  • Installed and operated AirMycelium™ technology in an existing mushroom farm.
  • Expanded Mushroom® Packaging with 20,000 sqft of production capacity.

Ecovative’s products and technologies are based on mycelium, the fibrous ‘roots’ of mushrooms. Fed on leftover plant fibers, mycelial growth is guided to produce high quality materials and products that are completely home compostable, plastic free, and cruelty-free. The ability to grow custom-tuned mycelium materials at scale is the foundation of Ecovative’s Mycelium Foundry, a service for testing and developing new blockbuster materials for specific products and applications. This is currently done in partnership with more than 15 brands and manufacturers across a range of industries, including ECCO Leather, Vivobarefoot, Wolverine Worldwide, BESTSELLER, Pangaia, PVH Corp, and others still to be announced.

“It’s amazing what mushrooms can do. Ecovative has shown mycelium’s potential across industries, demonstrated product-market fits that are already addressing the needs of the Earth. And this is just the beginning, with huge addressable markets and the potential to make real, lasting change for circular manufacturing.” — Jon Schulhof, Managing Partner at Footprint Coalition Ventures

Mycelium technology has gained immense interest in recent years from brands, manufacturers and consumers alike. Ecovative is working to meet that demand while staying focused on the most promising commercial and environmental applications, using biology to produce high performing, planet-friendly materials and products.

“We’re proud of our team, and the immense progress they have made in a short time, rising to the occasion to bring mycelium technology to scale. Our goal is to hack capitalism to support Spaceship Earth: building factories that produce clean air, clean water, and healthy soil, while growing delightful materials that meet everyday needs and produce extraordinary profits.” — Eben Bayer, Co-Founder and CEO of Ecovative

Posted: June 6, 2023

Source: Ecovative Design LLC

Yak Wool Pioneer kora Introduces New Bamboo Activewear

BALI, Indonesia — June 6, 2023 — Kora (https://koraoutdoor.com), the pioneer in developing performance apparel with yak wool and known for creating all of its own fabrics, today introduces the evolution of its apparel range: kora Bamboo, a collection of everyday pieces designed for maximum comfort, exceptional stretch, and unrestricted movement.

The result of rigorous research and product development, the eco-friendly fabric uses Forest Stewardship Council (FCS)-certified bamboo as the foundation, adding in spandex for the right amount of stretch and comfort. Kora Bamboo is a midweight fabric that is incredibly soft, durable and breathable and naturally wicks away sweat to keep the body cooler as temperatures rise. Kora Bamboo is a versatile choice for everyday use, easily transitioning between activities and climates, and the fabric provides a second skin feel that hugs your body and moves with you. For those with sensitive skin, bamboo is a soft material and an ideal plant-based alternative to wool.

“After many months of work we’re so excited to be introducing kora Bamboo, which builds on our decades-long foundation of expertise developing technical layers with yak wool, merino and other natural fibers,” said kora founder, Michael Kleinwort. “Bamboo offers performance and sustainability, both core principles of the brand and how we develop our apparel and accessories, and this expands our offerings to include a plant-based alternative to wool. Additionally, by offering a new range of sustainable, stylish and versatile apparel to wear throughout the year, we can continue our mission to support the people and the environment of the Himalayas, specifically the Tibetan nomad communities that we have developed a strong bond with over the past decade.”

As with all kora garments and accessories, each purchase of the new Bamboo Collection helps kora support Tibetan nomads adapt to the threats posed by climate change and rural-urban migration.

Bamboo is renowned for its fast growth and minimal environmental impact, making it an ideal choice for conscious consumers. With FSC certification kora ensures that the bamboo used in the collection comes from responsibly managed plantations, promoting forest conservation and the well-being of local communities. The bamboo layers have undergone rigorous testing to confirm the UV protective properties, offering enhanced sun protection while enjoying outdoor activities.

The new Bamboo collection includes a wide range of pieces for men and women, and will be available Spring/Summer 2023 in two separate capsules. The first capsule – available today at https://koraoutdoor.com – includes Women’s long sleeve top and legging and Men’s short and long sleeve top and legging in Deep Purple, Cerise Red, Earth Green, Earth Blue, Ecru and Soft Black. Prices range from $85-$95 USD.

Bamboo Collection Specifications:

  • Fabric: 90% FSC-certified bamboo, 10% spandex
  • Designed for eco-friendliness, flexibility and UV protection
  • Naturally cooling on warm days / warming on cool days
  • Certified UPF 50
  • Perfect for those with sensitive skin
  • Designed to be worn as standalone pieces or as a base under midlayers / outerwear
  • Leggings 270 gsm, tops 220 gsmAvailable in six colorways and a range of styles for women and men

Posted: June 6, 2023

Source: kora

Chad Altbaier And David Wang Appointed Standard Fiber Co-CEOs

FOSTER CITY, Calif. — June 6, 2023 — Standard Fiber, one of the world’s largest innovators and suppliers to the home textiles market, has promoted Chad Altbaier and David Wang as co-CEOs charged with leading the company in a bold new direction of advanced textile innovation, consumer-responsive product design, and unparalleled global production capabilities.

Altbaier, previously Standard Fiber CCO, will direct sales, merchandising, product development/innovation, human resources, IT, and strategic business expansion. Wang, previously Standard Fiber President and COO, will focus on directing global supply chain, manufacturing, and operations.

“Chad and David bring a record of excellence, trust, vision, and accomplishment to our community,” said Glenn Boschetto, Standard Fiber chairman. “With 25 years of proven performance from an elite team of experts, coupled with its debt-free financial structure, Standard Fiber is well positioned for enviable growth under their leadership.”

“We’re thrilled and humbled to have this opportunity to design and execute an aggressive path for Standard Fiber’s future”, stated Altbaier and Wang. “Our plans include implementing an assertive strategy that includes expanded nearshore manufacturing capabilities, broadened global supply chain partnerships, strategic product and distribution expansion, dedicated R&D to pioneering textile technologies, all while maintaining a firm commitment to investing in a best-in-class team across our worldwide operations.”

Posted: June 6, 2023

Source Standard Fiber

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