French government awards Global Bioenergies €16.4 million to help fund construction of the world’s first biosourced isobutene plant

PRESS RELEASE

French government awards Global Bioenergies €16.4 million to help fund construction of the world’s first biosourced isobutene plant

Evry, 04 October 2023 – 07:00 a.m.: Under Bpifrance’s "Première Usine” call for projects as part of the France 2030 plan, the French government has decided to help finance the project to build a plant capable of producing 10,000 tonnes of isobutene and derivatives per year. The government will provide €16.4 million of non-dilutive funding in the form of a subsidy (60%) and a repayable advance (40%). The plant is due to start operating in 2027.

The unique technology developed by Global Bioenergies for producing isobutene from natural resources will allow the cosmetics industry to increase the naturalness of its formulas and the aviation industry to gradually reduce its dependence on oil, without sacrificing performance and without the need to adapt existing equipment and facilities.

Bruno Bonnell, Secretary General for Investments in charge of the France 2030 plan, explained: "Global Bioenergies has developed, in France, an innovative process of global reach that offers a new solution for decarbonising a range of industrial sectors. France 2030 aims to detect, de-risk and support disruptive technologies.”

Marc Delcourt, co-founder and CEO of Global Bioenergies, said: "This support from the government is essential and represents the cornerstone of the overall financing arrangements for the plant, which we hope to finalise by mid-2024. Located in France, the plant will contribute towards adding value to the region’s abundant resources, reviving local industry and establishing a totally new economic sector.”

This project has been funded by the French government as part of France 2030

Funded by the European Union - Next Generation EU under the France Relance plan

About GLOBAL BIOENERGIES

Global Bioenergies substitutes products of fossil origin with products of natural origin. In their quest for naturalness without compromising on performance, the cosmetics players are the Company's first customers. By 2027, the Company will be operating its innovative process in a large-scale plant. By 2030, the Company plans to become a leader in the huge emerging market for sustainable aviation fuels, in order to fight against global warming. Global Bioenergies is listed on Euronext Growth in Paris (FR0011052257 - ALGBE). L'Oréal is its largest shareholder, with a 13.5% stake.

Contacts

Attachment

• French government awards Global Bioenergies €16.4 million to help fund construction of the world’s first biosourced isobutene plant