Global Bioenergies raises funds for France’s first biobased isobutene plant

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In France, biobased isobutene producer Global Bioenergies has strengthened its cash position with public fundings that will cover its costs until early 2025.

The funding included several non-dilutive financings from partners Bpifrance, ADEME and the European agency BBI-JU within the framework of the Horizon 2020 research and innovation program.

Global Bioenergies received €4.1 million from the French government as the first installment of a €16.4 million grant for the construction of the world’s first biobased isobutene plant. 

Several French and European R&D consortia also contributed €3.2 million for the Optisochem project, which aims to convert wheat straw into biobased isobutene derivatives and validate isobutene derivatives in cosmetics.

L’Oréal is Global Bioenergies’ largest shareholder, with a 13.5% stake.