L'Oreal Fund Invests in Recycling Technology Company Carbios
June 26 2019 - 1:16PM
Dow Jones News
By Sarah Sloat
France's L'Oreal SA (OR.FR) said Wednesday that it has invested
in Carbios S.A. (ALCRB.FR), a recycling-technology company focused
on plastics and textile polymers.
L'Oreal's venture capital fund, Bold Business Opportunities for
L'Oreal Development, invested in Carbios through a capital
increase. The company didn't specify the size of its
investment.
Carbios has developed sustainable technology that uses enzymes
that can recycle broader PET plastics and polyester fibers
feedstock than other recycling technologies, L'Oreal said. The
process can also be used for other forms of packaging.
Bold Business Opportunities for L'Oreal Development is a fund
set up to take minority stakes in innovative companies and brands
with high growth potential, L'Oreal said.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
June 26, 2019 13:01 ET (17:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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