Evry (France), 05 September 2019
Further to today’s Annual General Meeting, Global Bioenergies announced that BOLD Business Opportunities for L’Oréal Development, now the largest shareholder following the financing transaction of last June, was appointed an observer and will sit on the Board of Directors.
Moreover, the venture capital company Seventure Partners, historically speaking the first investor in Global Bioenergies, has resigned from its functions as Company director, effective today.
John Pierce, Chairman of the board of Global Bioenergies, said: “Huge thanks to Seventure for their unfailing support over the past ten years, and welcome to L’Oréal as we start writing this new chapter. The challenge is now to transform our process into industrial reality on a wide scale, firstly with cosmetics and then with materials and fuels, so as to play our part in improving sustainability and in reducing CO2 emissions, whose effects on the climate are being felt more and more each day.”
About GLOBAL BIOENERGIES
Global Bioenergies is the only company in the world to have developed a conversion process for renewable resources (residual sugars, agricultural and forestry waste) into isobutene, one of the petrochemical building blocks that can be converted into ingredients for cosmetics, petrol, kerosene, LPG and plastics. Global Bioenergies continues to improve the performance of its process, conducts trials on its demo plant in Germany and is preparing the first full-sized plant in a Joint‐Venture with Cristal Union. Global Bioenergies is listed on Euronext Growth in Paris (FR0011052257 – ALGBE).
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