L’Oréal enters tri-party agreement to advance sustainable beauty ingredients

The partnership will support the large-scale production of bio-based ingredients.

L’Oréal has announced a new tri-party agreement with biotech innovator Abolis Biotechnologies and global specialty manufacturer Evonik to accelerate the development and production of sustainable beauty ingredients. 

The agreement aims to drive the discovery, development, and production of cutting-edge, sustainable ingredients for the beauty industry and beyond. It will also support the large-scale production of bio-based ingredients, aligning with L’Oréal’s “L’Oréal for the Future” sustainability goals and meeting the rising global demand for responsible beauty solutions.

As part of the agreement, L’Oréal and Evonik have made minority investments in Abolis, a French biotech company based in Genopole. Abolis is renowned for its expertise in developing tailor-made industrial solutions using microorganisms for various sectors including cosmetics, healthcare, and food. 

L’Oréal’s venture capital fund, BOLD, has participated in a $39 (€35m) funding round that also includes contributions from Evonik CVC, Deep Tech & Climate Fund (DTCF), Clay Partners, Icos Capital, and Liberset. 

The investment will enable Abolis to enhance its development of microbe-powered solutions, facilitating a transition to more sustainable business practices across multiple industries. 

The collaboration began in 2019 and expanded with a new lab setup in 2022.