How L’Oréal is Using Biotech for Sustainable Beauty
Sourcing raw materials accounts for 30-50% of the beauty and personal care sector’s emissions.
L'Oréal is looking to change this through its new tri-party agreement to research, develop and manufacture more bio-ingredients with Abolis and Evonik.
“We are proud to invest in Abolis and expand our collaboration, working together as a tight ecosystem alongside our historical partner, Evonik,” says Barbara Lavernos, Deputy Chief Executive Officer in charge of Research, Innovation and Technology at L’Oréal Group.
“By mobilising 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.”
L’Oréal Group’s sustainability initiatives
French multinational personal care company L’Oréal Group has more than 90,000 employees and revenue of €41.18bn (US$45.85bn) in 2023.
The company had 37 international brands including Garnier, NYX Cosmetics and Maybelline.
L’Oréal says it has been working for more than 20 years to reduce its industrial GHG emissions through improving energy efficiency, increasing use of local renewable energies and setting defined targets.
It aims to use 100% renewable energy for its sites by 2025 and reduce GHG emissions linked to the transport of its products 50% by 2030.
About Evonik
Evonik is a German specialty chemicals company that operates in more than 100 countries.
In 2023 the company had revenue of €15.3bn (US$17bn) and more than 33,000 employees.
Evonik’s near term GHG reduction targets have been validated by the Science Based Targets initiative (SBTi) on a ‘well below 2 degrees’ pathway.
Bernhard Mohr, Managing Director of Evonik Venture Capital, says: “With Abolis’ competencies in strain development and metabolic engineering, and our collaboration with L'Oréal, we aim to unlock new opportunities in cosmetics.”
Meet Abolis Biotechnologies
Abolis is a French biotechnology company founded in 2014.
The company says it aims to become a key player in the transformation of manufacturing through the ecological transition.
Abolis’ agreement with L’Oréal and Evonik comes from its 2024 investment round where it raised €35m (US$38.9m).
Samantha Etienne, Global General Manager of BOLD, L’Oréal’s venture capital fund, says: “This investment highlights our belief in Abolis’ potential to create a more sustainable future across various industries, including beauty.”
L'Oréal Group’s partnership with Abolis
L'Oréal is aiming to make 95% of ingredients in its formulas bio-based, derived from abundant materials or from circular processes by 2030.
The company began its partnership with Abolis in 2019 which led to an extended lab set up in 2022.
The companies are now expanding their partnership further with this investment.
"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," says Cyrille Pauthenier, CEO of Abolis Biotechnologies.
"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.”
L'Oréal Group invests more than €1bn (US$1.1bn). in R&I each year. A large percentage goes towards its work in Green Sciences, with a major focus on biotechnologies.
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