We have advised Global Bioenergies on its capital increase of €14.5m. Subscribers to this capital increase include institutional investors, notably the investment fund BOLD of the L’Oréal Group and the Cristal Union group.
Founded in 2008, Euronext-listed Global Bioenergies has developed a unique process to convert renewable resources into isododecane and other key ingredients used in the cosmetics industry, as well as in the energy and materials sectors. Global Bioenergies has recently launched its own brand LAST of make-up cosmetics, marketing them online, and through selected distributors.
The capital increase, in a total amount of €14.5m, consists of a €13.5m issue reserved for Global Bioenergies’ commercial partners, industrial partners and/or private equity funds investing in the biotechnology, green energy, cosmetics or retail sectors, and a €1.0m public offering from retail investors through the PrimaryBid platform.
Funding will allow Global Bioenergies to complete the commercial development, construction, and industrial production of the Pomacle-Bazancourt unit, including its working capital requirements, participate in the financing of the engineering phase and roll-out of a larger plant, as well as pursue its R&D efforts to reduce operating cost regarding commodity and sustainable aviation fuel applications within five years and diversify commercial opportunities.
