L’Oreal Invests in French Biotech Company Microphyt
- Chaileedo Press
- Nov 30, 2022
- 2 min read
L'Oréal said the partnership aims to develop natural and renewable ingredients together with Microphyt. This follows L'Oréal's commitment to reduce carbon emissions per unit of finished product by 50% by 2030.
On November 29, L'Oréal Group announced a strategic partnership with French biotech company Microphyt, with L'Oréal's venture capital fund BOLD acquiring a minority stake in Microphyt.
The partnership is part of L'Oréal's research and innovation strategy for green science and its investment in innovative biotech startups in France and around the world, L'Oréal said.
Founded in 2007 and headquartered in Baillargues, Microphyt has developed a revolutionary process with a low carbon impact to produce microalgae - microscopic plant organisms used in cosmetics and other fields. Thanks to this patented process and its control of natural stimuli (e.g. light, salt, nutrients, temperature variations, etc.), Microphyt is one of the companies producing the largest variety of microalgae in a large-scale, controlled manner. Microphyt has an integrated platform to transform microalgae to develop natural and renewable ingredients that fit perfectly with L'Oréal's sustainability objectives.
In the future, L'Oréal and Microphyt will build a technological platform and combine material and human resources to extract raw materials from microalgae. The two companies aim to establish a long-term partnership to develop new cosmetic solutions together.
Indeed, this partnership comes on the heels of several strategic partnerships L'Oréal has forged to strengthen its groundbreaking green science beauty ecosystem, including precision health heavyweight VERILY, the National Institute for Materials Research (NIMS) in Japan, the Singapore Center for Environmental Life Sciences Engineering (SCELSE) and the Bordeaux Laboratoire de Chimie des Polymères Organiques (LCPO).
On November 28th, L'Oréal's supplier, A.P.Label's plant in Suzhou (hereinafter referred to as A.P.Label Suzhou plant), officially achieved carbon neutrality, becoming the first successful pilot of supplier collaboration for carbon reduction in L'Oréal North Asia. And, in July this year, at Indirect Sourcing Supplier Day, L'Oréal made a new carbon reduction commitment: to reduce carbon emissions per unit of the finished product by 50% by 2030 (Scope 1, 2 and 3).
Barbara Lavernos, Head of Global R&D, Innovation and Technology Affairs of L'Oréal Group, said that L'Oréal aims to further accelerate L'Oréal's drive towards sustainable beauty by partnering with the world's most disruptive green science entities to conduct large-scale development and innovation research and make them available to as many people as possible.
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