The Investissements d’Avenir programme (a French government initiative) is providing €9M to both Global Bioenergies and IBN-One, as part of an project involving Cristal Union (the agro-business for Beet production) and L’Oréal (the cosmetics Giant). Together, they will develop the first commercial plant producing bio-sourced isobutene worldwide.
Broken down into €5.7M for Global Bioenergies; €3.3M for IBN-One, the two will launch a 44-month industrial and commercial project focused on the first bio-isobutene plant with L’Oréal and Cristal Union.
The funding will be paid out in several tranches throughout the project, including an initial tranche of 15%.
Since 2008, Global Bioenergies has been developing a process to produce isobutene from renewable resources (residual sugar, agricultural and forestry waste). This innovative process will reduce the carbon dioxide footprint for isobutene manufacture.
This is what led the Evry-based biotech to attract a massive Biofuel deal with Audi, the car manufacturer.
The process is now entering a new phase of development: step by step,