L’Oréal has announced that they have a new agreement with Abolis Biotechnologies and global specialty manufacturer, Evonik. The purpose of this agreement is to focus on the discovery, development and manufacturing of innovative and sustainable ingredients that could manufacture beauty products and other items.

Furthermore, this agreement will make it possible for purpose-made, sustainable ingredients to be produced at the scale that is currently required when it comes to satisfying global demand for responsible beauty. Plus, these products will drive forwards the progress and development that is being made by the Groupe’s L’Oréal for the Future sustainability programme and commitments. This specific commitment highlights bio-based ingredients that are found within its beauty formulations.

Over the last 115 years, L’Oréal has remained completely committed to becoming the world's ‘leading beauty player’ and in doing this, the company has become dedicated to ‘fulfilling the beauty aspirations of consumers around the world.’ The company stated, ‘Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.’

On the other hand, BOLD, Business Opportunities for L’Oréal Development is well-known as the global corporate venture capital fund of L’Oréal. BOLD was created in 2018 and since then the company has been focused on exploring ‘the frontier of beauty via strategic minority investments in promising startups across the beauty value chain.’ The companies predominant focus when it comes to investments, includes emerging brands, plus innovative companies when it comes to technology and biotechnology.

Abolis is a company which works to deliver high-impact innovations that can be used to support industries throughout their transition when they are looking to build a better future that is in collaboration with the natural world. The company mentioned, ‘We provide tailor-made industrial solutions based on micro-organisms for a wide range of industries – from food and healthcare to cosmetics and chemistry.’

Finally, Evonik is a well-known company and they are a world leader in speciality chemicals. So far, the company has become active in over one hundred countries. Evonik works hard to go beyond chemistry and to create innovative, profitable and sustainable solutions that are appropriate for customers. The overall goal of this company is simple, ‘We want to improve life today and tomorrow.’

Deputy Chief Executive Officer in charge of Research, Innovation and Technology, L’Oréal Groupe, Barbara Lavernos, commented, “We are proud to invest in Abolis and expand our collaboration, working together as a tight ecosystem alongside our historical partner, Evonik. By mobilizing our respective companies’ research, innovation and manufacturing capabilities and expertise, we are building an end-to-end value chain that we believe has tremendous potential to be a game-changer in bio-based ingredients for beauty.”

CEO of Abolis Biotechnologies, Cyrille Pauthenier, added, “We are thrilled to receive this round of funding which will allow us to take the next step in pushing the boundaries of innovation in biotechnology. Our collaboration with L’Oréal and Evonik will empower us to create groundbreaking solutions tailored to drive the sustainable transformation of the industries we serve including beauty, nutrition and healthcare.”

Head of Business Line Care Solutions at Evonik, Ute Schick, mentioned, “We are honored to be selected by L’Oréal as their industrial-scale manufacturer of choice for this endeavor, building on a long-standing and expanded relationship between Evonik and L’Oréal.We are excited to be part of bringing new, blockbuster sustainable ingredients to the global market alongside L’Oréal and Abolis.”