From GlobeNewswire: 2024-04-11 00:45:00

CARBIOS Group reports a cash position of €192 million as of December 31, 2023, solidifying its financial structure. Construction of the world’s first PET biorecycling plant in France is on track for completion in 2026. International sales teams are active in more than ten countries, with partnerships expected in 2024. Multiple achievements in 2023, such as the groundbreaking of the PET biorecycling plant in France, marking significant progress towards commercial and international activities. The Group’s financial results for 2023 reflect a strategic focus on R&D, operational excellence, and a strong capital raise through a €141 million fundraising round on Euronext Growth. Income accounted under IFRS 15 standards for 2023 totaled €24 thousand, while operating expenses increased to €28,902 thousand compared to 2022. Investment in research and development efforts for PET plastic and polyester fibers remain a priority for CARBIOS as it progresses towards industry leadership in biorecycling. Key balance sheet items as of December 31, 2023, include €192 million in cash and cash equivalents, €20.6 million in Goodwill, and €21.9 million in intangible assets, reflecting the Group’s commitment to intellectual property and operational excellence.



Read more at GlobeNewswire:: CARBIOS announces fiscal-year 2023 financial results and