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Distinguished industry leader to head financial portfolio as Carbios enters industrial development phase
Carbios (Paris:ALCRB) (Euronext Growth Paris: ALCRB), a company pioneering new bio-industrial solutions to reinvent the lifecycle of plastic and textile polymers, announced today the appointment of Kader Hidra as Chief Financial Officer and member of the Executive Committee of the Company.
"We are delighted to welcome Kader as Carbios’ Chief Financial Officer. His in-depth knowledge of financial markets, along with his experience in leadership roles in the sustainability sector, will undoubtedly have a major impact on the Company," said Jean-Claude Lumaret, Chief Executive Officer of Carbios.
Mr. Hidra joins Carbios with more than a decade of experience in finance. Prior to joining the firm, he was the Chief Executive Officer of Citégestion, a digital start-up specialized in asset management and software development for Smart Cities. Previously, he was Investor and Markets Director at the EDF Group, a French electricity company which is a global leader in low-carbon energies. Before that,
Mr. Hidra worked in London-based investment banks including Morgan Stanley and Berenberg Bank.
As Chief Financial Officer, Mr. Hidra will support Carbios as it moves to industrialize its processes. He will lead the management and organization of the Company’s finances to strengthen a team already skilled in investor relations, financial communication, and financial monitoring. Mr. Hidra brings to Carbios his deep expertise in financial markets as well as his managerial experience acquired within large international groups and innovative start-ups.
Mr. Hidra obtained his MBA from Duke-Fuqua School of Business and his engineering degree from the National Polytechnic Institute of Grenoble (France).
"Kader is a great asset to Carbios’ Executive Committee and will support its industrial development. The recent success of the Company’s capital increase attests to the growing interest of investors in our innovative and sustainable technologies, and gives Kader the keys to support the management of our financial strategy," said Ian Hudson, Chairman of Carbios’ Board of Directors.
Carbios is a green chemistry company whose innovations help address the environmental and sustainable development challenges facing manufacturers. Since its creation in 2011 by Truffle Capital, the Company has developed, through biotechnology, two industrial processes that revolutionize the biodegradation and recycling of polymers. These world-first innovations, made possible with the support of Bpifrance (THANAPLAST™ project), optimize the performance and lifecycle of plastics and textiles by exploiting the properties of highly specific enzymes.
Carbios' economic development model is based on the industrialization and commercialization of its products and/or enzymes, technologies and bioprocesses through license concessions directly or through joint ventures to major industrial players or sectors concerned by the Company's innovations. As such, Carbios created the joint venture Carbiolice in September 2016, in partnership with Limagrain Ingredients and the SPI fund operated by Bpifrance. This company, of which Carbios has majority control, will exploit the first technology licensed by Carbios by producing enzymatic granules for the production of biodegradable and biobased plastics.
Carbios benefits from the qualification "Innovative Company" of Bpifrance allowing the eligibility of the Company's securities for the investment of Mutual Funds Placement in Innovation (FCPI). For more information, please visit: www.carbios.fr
Carbios is eligible for the PEA-PME, a government program allowing French residents investing in SMEs to benefit from income tax rebates.
This press release does not constitute and cannot be regarded as constituting an offer to the public, an offer to sell or a subscription offer or as a solicitation to solicit a buy or sell order in any country.
Translation for information purposes only. In case of discrepancy between the French and the English version of this press release, the French version shall prevail.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200906005016/en/
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