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Foreword
In a recent press release, the European Chemical Industry Council (Cefic) emphasized the importance of a joint roadmap with the European Commission in order to successfully deliver the Green Deal. They suggest that the roadmap should outline the necessary conditions for the successful deployment of innovative technologies. They emphasize need for access to low-carbon energy, infrastructure development, and new market opportunities for sustainable products to ensure global competitiveness during the transition. Cefic expresses their backing for Paris Climate Agreement and the IPCC's recommendations to address climate change. It promotes Europe as a hub for innovation and investments in circular technologies, aiming to help Europe achieve climate neutrality by 2050, as being laid out in the Commission's draft Climate Law.
In this month’s News Review we take a look at the personal care and cosmetics industry and some of the recent efforts for switching to bio-based chemicals. The revenue for its global market has expanded by USD $20bln within the last six months and Statista predicts that the revenue growth will accelerate experiencing the same increase within the next 4 years. In Europe alone, the industry supports over 3.5 million jobs including direct, indirect and induced economic activity.
L’Oréal has announced an R&D agreement (commercial collaboration) with biotech innovator, Abolis Biotechnologies and German specialty manufacturer, Evonik, to enable the discovery, development and manufacturing of novel and sustainable ingredients for beauty products. This marks a new, strategic phase in the L’Oréal-Abolis collaboration, which began in 2019 and led to an extended lab set-up in 2022. L’Oréal’s venture capital fund, BOLD, participated in the €35 million funding round which also includes Evonik CVC, Deep Tech & Climate Fund (DTCF), Clay Partners, Icos Capital and Liberset. The investment will enable the French innovator Abolis to expand its microbe-powered gamut and assist industries to adopt sustainable business models.
Other News this Month Includes:
Policy
- Biogenic carbon accounting in the Product Environmental Footprint
- How can Europe’s Chemical Industry help deliver on the Green Deal?
Markets
- LNER Unveils ‘Our Planet’ Train
- Notpla secures £20 million in Series A+ funding to revolutionise sustainable packaging
- More...
Research & Development
- Evaluating BBSRC investments in industrial biotechnology research
- L’oréal Groupe partners with Abolis and Evonik to scale development of next-generation bio-based ingredients
- More...
Polymers
- Exel Composites launches commercial scale use of bio-based resins
- Bio just got cooler: Bio-based hot melt adhesive from Henkel helps save energy in the packaging process
- More...
Chemicals
- Holiferm announces major production capacity increase through groundbreaking technical innovation
- ResiCare announces availability of the first samples of the non-toxic, bio-based molecule 5-HMF for industrial use
- More...
Consumer Products
- Crocs announces industry leading sustainability milestone as the brand reaches 25% bio-circular Croslite material across its entire product portfolio
- Diageo launches first 70cl paper-based bottle on-trade trial for Johnnie Walker
- More...
Patents
- James Cropper invents proprietary technology capable of transforming waste polycotton into paper for the first time
- Flexsea Patents: Redefining Bioplastics
- More...
Events
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