The luxury cosmetics group is investing in French biotech.
L’Oréal BOLD (Business Opportunities for L’Oréal Development) has just acquired a minority stake in Microphyt, a biotechnology company created in 2007.
Microphyt has developed a low-carbon process for the production of microalgae, microscopic plant organisms used (among other things) in cosmetics. This French biotech is one of the companies producing the largest varieties of microalgae in the world.
L’Oréal and Microphyt want to build a technological platform to pool material and human resources to design raw materials from the microalgae biomass. The idea is to establish a long-term partnership for the development of new solutions in the cosmetics sector.
“This operation is fully in line with L’Oréal’s Research & Innovation strategy in the field of Green Sciences, through numerous strategic partnerships with innovative start-ups in the biotechnology sector, in France and internationally,” said the group in a statement.
This participation is the logical continuation of the objectives that L’Oréal has set for 2030 as part of its sustainable development programme. The group wants 95% of its ingredients to be bio-sourced, derived from abundant minerals or from circular processes by that date.
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Featured photo : © L’Oréal
