L’Oréal has invested in Genomatica, a US developer of biotechnology-based alternatives to critical ingredients in cosmetic formulations.
As a result of the investment, Genomatica will deploy its proven biotechnology platform, using proprietary engineered microorganisms to ferment plant sugars that produce ingredients to make sustainable surfactants.
These new ingredients will be used in a range of L'Oréal's products, marking an essential step towards L’Oréal’s goals of 100% eco-designed formulas that respect the diversity of aquatic ecosystems and 95% of ingredients from renewable plant-based sources or abundant minerals by 2030.
L’Oréal joins Unilever and Kao in investing in San Diego-based Genomatica. Financial details of the transaction were not disclosed.
“Welcoming L’Oréal to this incredible team of global brand heavyweights signifies just how important and urgent the need is for traceable, resilient and sustainable materials, at scale,” said Genomatica chief executive Christophe Schilling.
“This partnership will further catapult our venture’s mission to the global scale required to meet strong market demand for sustainable products,” he added.
Barbara Lavernos, deputy chief executive officer in charge of research, innovation and technology for L’Oréal, said: “We are thrilled to partner with Geno, whose unique approach to developing alternative biotechnology-based ingredients perfectly aligns with our vision of a more sustainable future.
“By working together with other beauty players, we can leverage our collective expertise and resources wherever our collective efforts can have a meaningful purpose”.