The company stated that negotiations to finalise the finance structure are “progressing constructively” but not yet concluded.
The financing for the Longlaville plant includes €42.5m ($49m) in public funds, which have already been contractually secured.
Additional funding is expected to be derived from debt financing arrangements with banks, supported by guarantees such as GPS and EIFO. It is also expected to include contributions from several French partners through a project financing approach, and equity investments by Carbios, both in the form of capital and intellectual property, as well as work performed for the project.
These arrangements would position Carbios as a minority shareholder in the project-operating company, Carbios 54.
As a result, Carbios 54’s debt and financial outcomes would not be consolidated into Carbios’ accounts. If the financing is finalised, it is expected to meet the projected construction cost of €230m, as well as expenses pertaining to the plant’s start-up.
Stakeholders aim to finalise financing elements in the coming weeks to reach a deal by the third quarter of 2026.
Carbios has indicated confidence in advancing presale contracts and achieving up to 70% of the Longlaville site’s future production capacity in the near term, citing supportive French and European regulations relating to chemical recycling.
The company’s board of directors has approved the continuation of these financial discussions, with plans to start production at the Longlaville facility by the first half of 2028, subject to the completion of all project requirements.
To aid the company’s ongoing development work, the board has appointed Benoît Grenot as deputy chief executive officer.
Carbios’ board of directors chairwoman Isabelle Parize and CEO Vincent Kamel said: “We are delighted to welcome Benoît Grenot to the Company: his leadership, international experience, particularly in China, and strong operational discipline will be key assets in finalising the remaining financing steps for the Longlaville project and ensuring the long-term success of the strategic partnership with Wankai.”
The company held the plant’s ceremony in April 2024; however, construction was subsequently deferred by six to nine months in December of that year due to funding delays.
In December 2025, Carbios adjusted the Longlaville plant construction schedule by three months, confirming its intention to continue with the project.
The Longlaville plant is designed to have an annual processing capacity of 50,000 tonnes of prepared post-consumer PET waste, which is reportedly comparable to 300 million T-shirts.
