05/04/2021 | Press release | Distributed by Public on 05/04/2021 02:19
Paris, 20 April 2021- Global Bioenergies announces the publication of its annual financial report, available on the Company's website under 'Investor'.
Samuel Dubruque, Chief Financial Officer of Global Bioenergies, said: 'In our annual results publication on 15 March, we announced a 2020 net loss of €11.1 million for the Group, the third successive year of shrinking losses, and a gross cash position of €15.2 million at the reporting date. These encouraging numbers testify to our financial rigour, but the big story of 2020 is how we have dug down into the cosmetics market, identifying exactly where we can add value as the industry commits to sustainable development.
The exemplary determination of the world's leading cosmetics companies is now inspiring others in the sector. Everyone is trying to make their formulations more and more natural without making any sacrifices to product performance.
Global Bioenergies goes to the core of this nature versus performance issue. Using an innovative process, we are today making plant-origin molecules that perfectly replicate some of the most commonly used ingredients in the cosmetics industry. To achieve its ambition of being the first sector to free itself completely from oil-based resources, cosmetics must turn to life sciences and especially to innovations such as ours.'
Marc Delcourt, Chief Executive Officer of Global Bioenergies, added: 'This summer we will launch the world's first biotech-based make-up brand. This new and innovative approach opens the doors to longwear cosmetics being natural and still delivering performance that matches the top brands on the market. We worked with the best professionals in the industry to develop this innovative range in a vast variety of products and colours.
Our second horizon will be to supply the big names in the sector, starting from 2022 as we ramp up capacity to produce our ingredients, so they too can naturalise their longwear cosmetics formulations.
The next move will be into adjacent markets, particularly skincare and haircare, where our ingredients are also commonly used.
Finally, we retain our ultimate ambition of launching mass production. Our process will notably allow us to start making renewable aircraft fuel that will reduce the aviation sector's carbon footprint.'
About GLOBAL BIOENERGIES
Global Bioenergies has developed a process to convert plant-derived resources into a key family of ingredients used in the cosmetics industry. The process was first developed in a laboratory, where the Company is further enhancing performance. It now operates as a pilot and a demo plant, with sufficient capacity to enable the Company to access the market by first creating a long-lasting makeup home brand. The Company is gradually increasing its production capacities and is looking to improve the environmental footprint of not only the cosmetics industry but also that of other areas such as transportation and materials. Global Bioenergies is listed on Euronext Growth Paris (FR0011052257 - ALGBE).
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