2024-04-14 06:37:09 ET
Summary
- Carbios is well-financed and has industrial agreements in place for its PET plant project, so its utilisation will be high when it comes online.
- We think decent industrial IRRs are possible for the PET plant and that they should be able to attract interest for their franchise/licensing business model.
- Valuations still look small considering the market size and the plastic burden on society. The plant just needs to be a success, and stay within budget.
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Carbios: Should Be Close To Production When Cash Runs Out