Core Insights - NAFRA's renewed engagement highlights the importance of SMX in the recycling industry, particularly for operators affected by upstream decisions [1] Industry Impact - Recyclers face challenges due to the complexity introduced by manufacturers through additives, colorants, and flame retardants in plastics [1]

SMX's second invitation from NAFRA signals a shift from proof to recognition NEW YORK, NY / ACCESS Newswire / December 10, 2025 / When an industry organization invites a company into the room, it's a moment. When that same organization invites the company back after already seeing the technology up close, it's a message. That is the position SMX (NASDAQ:SMX) occupies now.Earlier this year, NAFRA witnessed SMX's molecular marking and digital passport system achieve 99%-100% accuracy in sorting flame-retar ...

France-based CARBIOS and China’s Wankai New Materials, a listed subsidiary of Zhink Group, have agreed to form a joint venture (JV) partnership for the industrial rollout of CARBIOS’ polyethylene terephthalate (PET) biorecycling technology in Asia. The partnership will start with a new facility in China. Following the signing yesterday (2 December), the two companies have sealed a shareholders’ agreement to create a JV that will construct and operate what is described as the debut PET biorecycling plant ...

Core Points - CARBIOS and Wankai New Materials have established a strategic partnership for the large-scale deployment of CARBIOS's PET biorecycling technology in Asia, starting with a PET biorecycling plant in China [1][2][3] - The joint venture will have a processing capacity of 50,000 tons of PET waste, with Wankai holding a 70% stake and CARBIOS holding 30% [3] - The construction of the plant is estimated to cost €115 million, financed by 30% equity and 70% debt, with all debt guaranteed by Wankai [3] Company Overview - CARBIOS is a biotechnology company focused on developing biological solutions to reinvent the lifecycle of plastics and textiles, aiming to prevent plastic pollution and promote a circular economy [2] - The company has two main technologies: PET biorecycling and PLA biodegradation, with its industrial demonstration plant for biorecycling operational since 2021 [2] - CARBIOS collaborates with major brands in various industries to enhance the recyclability of their products and is part of the global community of B Corp™ certified companies [2] Partnership Details - The shareholders' agreement for the joint venture was signed on December 2, 2025, with construction expected to begin in Q1 2026 and commissioning targeted for Q1 2027 [3] - CARBIOS will exclusively license its PET depolymerization technology to Wankai for three years, with potential extensions based on additional capacity agreements [3] - Wankai has committed to a €5 million capital increase in CARBIOS S.A. before June 2, 2026, at a share price of €8.0947, reflecting a 10% discount [3]

Core Points - CARBIOS and Wankai New Materials have established a strategic partnership for the large-scale deployment of CARBIOS's PET biorecycling technology in Asia, starting with a PET biorecycling plant in China [1][2][3] Company Overview - CARBIOS is a biotechnology company focused on developing biological solutions to reinvent the lifecycle of plastics and textiles, aiming to prevent plastic pollution and promote a circular economy [2][3] - The company has two main technologies: PET biorecycling and PLA biodegradation, with an operational industrial demonstration plant since 2021 [2] Partnership Details - The joint venture will construct a PET biorecycling plant in Haining, Zhejiang province, with a processing capacity of 50,000 tons of PET waste [3] - Wankai will hold a 70% stake in the joint venture, while CARBIOS will retain 30% [3] - The estimated construction cost of the plant is €115 million, financed by 30% equity and 70% debt, with all debt guaranteed by Wankai [3] Future Plans - Construction of the plant is expected to begin in Q1 2026, with commissioning targeted for Q1 2027 [3] - CARBIOS has committed to exclusively license its PET depolymerization technology in Asia to Wankai for three years, with potential extensions based on additional capacity agreements [3] Financial Commitment - Wankai will subscribe to a capital increase of €5 million in CARBIOS S.A. before June 2, 2026, at a share price of €8.0947, reflecting a 10% discount [3]

Core Insights - Cabka N.V. presents a staged growth strategy aimed at long-term value creation through two distinct phases [1][4] Phase 1: Strengthen - Growing to Full Utilisation (2026-2028) - The company targets revenue exceeding €215 million with operational EBITDA margins increasing from 11% to 13-15%, indicating a 40-60% higher EBITDA by 2028 [2] - Key focus areas include optimizing the portfolio mix and enhancing planning in Europe, while intensifying commercial efforts in the United States with improved pricing and customer segmentation strategies [2] - Both regions will shift focus towards pharmaceuticals and e-commerce, alongside expanding contract manufacturing [2] - Improved cash flow generation and disciplined capital expenditure are expected to strengthen the balance sheet [2] Phase 2: Expand and Grow - Market Consolidation (2028-2030) - Cabka aims for organic revenue growth exceeding €240 million with operational EBITDA margins above 15%, driven by full capacity utilization [3] - The company plans to pursue inorganic growth through mergers and acquisitions (M&A) to exceed €300 million when the balance sheet allows [3] - Competitive advantages in ESG profile, innovation leadership, and customer-centric approach will be leveraged for growth [3] Management Commentary - The CEO emphasizes that the staged growth plan provides a clear roadmap for sustainable value creation, with Phase 1 focusing on operational excellence and margin improvement to set the stage for Phase 2's market consolidation opportunities [4] Company Overview - Cabka specializes in recycling plastics from post-consumer and post-industrial waste into innovative reusable transport packaging (RTP), enhancing logistics chain sustainability [5] - The company leads the industry with an integrated approach that closes the loop from waste to recycling to manufacturing, backed by its own innovation center [6]

Core Insights - PureCycle Technologies and Churchill Container received the 2025 U.S. Plastics Pact Sustainable Packaging Innovation Award for their Run It Back™ product line, which utilizes PureCycle's PureFive™ resin made from postconsumer recycled content [1][3] Company Overview - PureCycle Technologies specializes in a patented dissolution recycling technology that transforms polypropylene plastic waste into a continuously renewable resource, resulting in PureFive™ resin [6] Product Details - The Run It Back™ line includes cups and containers made from up to 100% recycled content, with the Cleveland Browns being the first sports team to utilize these products in their stadium for the 2025 season [2][4] Industry Trends - There is a growing consumer demand for sustainably made products, as highlighted by U.S. Plastics Pact President Jonathan Quinn, indicating a positive trend towards sustainability in various sectors, including sports [4] Collaboration and Future Outlook - The collaboration between PureCycle and Churchill Container is seen as a significant step towards providing circular solutions for food-contact applications, with expectations for continued interest in sustainable products from organizations [3][4]

Financial Data and Key Metrics Changes - The company ended the quarter with over $234 million in unrestricted cash and holds about $87 million in revenue bonds planned for future sale [32] - Operational spending was around $37 million, slightly lower than the previous quarter's $39 million, with expectations for increased spending associated with the ramp-up of commercial sales [32] Business Line Data and Key Metrics Changes - Ironton produced 7.2 million lbs in Q3, with September being a record month at 3.3 million lbs, while Denver processed 9.4 million lbs of feedstock in Q3 [12][13] - The company plans to add a third shift in Denver, increasing its capacity to approximately $100 million annually [8] Market Data and Key Metrics Changes - The company anticipates initial volume indications from key customers, including Procter & Gamble and QSRs, in the range of $40 million-$50 million annually [10][18] - The sales funnel remains strong, with significant demand expected from large applications, potentially selling out Ironton multiple times over [10][17] Company Strategy and Development Direction - The company is focusing on converting large applications into sales rather than just growing the sales funnel, indicating a strategic shift towards operational efficiency [11] - The Antwerp permitting process is on schedule, and the company expects to receive a grant of up to EUR 40 million from the EU Innovation Fund by the end of Q1 [11][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term demand for Ironton, despite challenges in consumer spending and the petrochemical environment [11] - The company is optimistic about its ability to ramp production in the coming quarters, with plans to run facilities at 60-70% rates initially [16] Other Important Information - The company has made significant progress in developing relationships with feedstock providers, which is crucial for operational success [13] - Regulatory developments in the U.S. and Europe are expected to drive demand for the company's products, with several states implementing extended producer responsibility regulations [27][28] Q&A Session Summary Question: Details on QSR interest and feedback - Management noted that recognizable brands are increasingly interested in sustainability, which aligns with the company's offerings [33] Question: CoProduct 2 sales strategy - The company plans to sell separated CoProduct 2 to the market and utilize some in its compounding operations, enhancing revenue and reducing costs [37][38] Question: Value of ISCC credits for customers - ISCC credits are valued at $0.75-$0.80 per pound, and the company believes its products will provide a superior value proposition compared to these credits [40][41] Question: EU Innovation Fund grant process - The company successfully secured the grant after improving project quality over previous submissions, which will reduce overall CapEx [44][45] Question: Thailand feedstock availability and cost - Management indicated strong interest from waste handlers in Thailand, with positive economics expected for feedstock procurement [46][48] Question: Timing for brand approvals - Management is optimistic about converting several large brand opportunities, which could significantly impact production volumes [49][50] Question: Financial impact of Q4 shipments - The company expects to ramp towards full production levels, with a focus on long-term relationships with major brands [55][56] Question: REACH certification and VW collaboration - The REACH certification enables the company to ship products to Europe, and the collaboration with VW demonstrates the product's quality in complex applications [60][64]

Operations - Ironton工厂第三季度生产了720万磅PureFive，创下新的季度记录[6]，9月份产量达到330万磅，创下新的月度记录[6] - 丹佛工厂成功启动第二班，并计划在第四季度增加第三班[6] - Ironton的复配添加剂项目进展顺利[6] - 最终产品复配扩建项目预计在2025年第四季度完成机械竣工，产能约为1亿磅/年[11] Commercial - 首个宝洁应用通过了所有可加工性和性能测试，预计第四季度开始销售[6] - 白色的热成型咖啡盖由PureFive树脂制成，预计第四季度将为全球前五的QSR发货[6] - 销售渠道持续建立，目前与超过100个机会进行不同阶段的合作[6] - 获得了APR回收成分认证[6] - 获得了REACH认证，允许PureFive在欧洲销售，并使欧盟客户能够进行资格认证[6] - PureCycle正在与跨国公司就长期、多地点的全球供应合同进行合作[6] - PureCycle的产品组合覆盖了北美市场74%的领域，主要集中在食品级薄膜（软包装）、QSR杯和盖（热成型包装）以及乳制品等（注塑包装）[18] Growth - 泰国项目在多个里程碑上持续进展[6] - PCT扩大了第二代净化设计，目前预计在2026年上半年完成[6] - 欧洲创新基金提案已被接受，预计在2026年第一季度末签署高达4000万欧元的赠款协议[6] - 正在与当地银行洽谈泰国债务融资[6] - 与16家独立供应商合作，数量可能相当于1号生产线年需求的4倍[51] - 已签署意向书，目标年产量约为1亿磅[51] - 聚丙烯浓度范围为70-95%[51] Finance - 截至2025年9月30日，非限制性现金为23440万美元，低于2025年6月30日的28410万美元，减少了4970万美元[52]

Core Insights - PureCycle Technologies, Inc. reported continued growth in Q3 2025, with a record production of 7.2 million pounds of pellets at the Ironton Facility, matching the first half of 2025's output [2][3] - The company is experiencing increased momentum with brand owners and converters moving from trials to purchasing PureFive™ resin, leading to a comprehensive product portfolio [2][5] Operations Update - A record amount of PureFive™ resin was produced in Q3, including a monthly record of 3.3 million pounds in September [3] - PureCycle plans to enhance feedstock processing and production at the Ironton Facility through the end of the year [3][4] Expansion Plans - The installation of Ironton compounding operations is expected to be completed by year-end, enabling production of approximately 100 million pounds of single-pellet solutions annually [4] - The Thailand project is progressing, with Letters of Intent signed for over 100 million pounds annually, aiming for mechanical completion in 2027 [8] Commercial Developments - PureCycle has finalized the PureFive™ product portfolio for commercialization, providing solutions for various applications including food-grade flexible film and injection molding [5] - The company is building a sales pipeline with top converters and brand owners, including Fortune 100 companies, and anticipates shipping PureFive™ resin to a top global quick service restaurant in Q4 2025 [6] Financial Performance - PureCycle's recognized revenue grew to approximately $2.4 million in Q3 2025 [9] - The company has received acceptance for a €40 million grant application from the EU's Innovation Fund, moving to the negotiation phase [9]