France-based Global Bioenergies on June 3 announced the company has launched an official search for buyers in the form of a “pre-pack sale” as part of a conciliation procedure. Purchase offers are due July 9.The company, which has been operating for more than a decade, developed a process produce biobased isobutene, a molecule with applications in the energy, materials and cosmetics industries. Global Bioenergies in mid-2024 announced it had adopted its process to convert biobased materials into e-SAF, a form of sustainable aviation fuel (SAF) produced from carbon dioxide and hydrogen, using acetic acid as a resource.&nbsp;In October 2024, Global Bioenergies announced plans to focus its business exclusively on e-SAF production. The decision was made after a proposed plant dedicated to the cosmetics market failed to find adequate investors.&nbsp;The company earlier this year supplied a batch of SAF to Safran, the world’s second-largest aircraft equipment manufacturer, for evaluation. Safron assessed the specific properties of the fuel during the fuel injection phase prior to combustion in the engine. ONERA, the French aerospace center, has also carried out tests on a laboratory burner to quantify the particles emitted during combustion of SAF. According to Global Bioeneries, that testing demonstrated a 40-99% reduction in soot emissions when compared with Jet-A-1 fuel, depending on the conditions tested in the laboratory.&nbsp;In its June 3 announcement, Global Bioenergies said it has been unable to find strategic investors to finance the continuation of its business. The planned pre-pack sale enables potential buyers to position themselves for the acquisition of all or part of the company’s business or assets. Completion of the sale plan, once decreed by the Commercial Court, will be followed by the liquidation of the company, involving the un-collectability of all or part of its liabilities, notably bank debts, and will results in the desilting of its securities.&nbsp;“As a reminder, we were unable to finance our first plant project and switched in the autumn of 2024 to an R&amp;D collaboration project with a major international industrialist, aiming to combine its technology with ours to produce particularly competitive sustainable aviation fuels,” said Marc Delcourt, co-founder, chairman and CEO of Global Bioenergies. “In this context, we had to finance our share of this project until profitability was reached.“We contacted numerous potential investors, mainly large industrial companies who would play an operational role in the project in addition to their investment,” Delcourt continued. “Despite several promising discussions and significant expressions of interest, we regret to say that none of these players is interested in acquiring a minority or majority stake in the Company in its current configuration and in the current geopolitical climate, which is adverse to investment in solutions to fight global warming and promote the energy transition. As a result, we are now looking for a buyer for the business.”The Commercial Court of Evry will evaluate the offers and select the buyer. A sales transaction is currently expected to close in September or October 2025.&nbsp;

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France-based Global Bioenergies on June 3 announced the company has launched an official search for buyers in the form of a “pre-pack sale” as part of a conciliation procedure. Purchase offers are due July 9.

Global Bioenergies launches search for buyer

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