13 Sep 2024 --- L’Oréal makes a tri-party agreement with Abolis and global specialty chemicals manufacturer Evonik to boost end-to-end discovery, development and manufacturing of sustainable ingredients for cosmetics. The beauty giant invests €35 million (US$39 million) in a Series A funding round for the French biotechnology start-up. The agreement is expected to meet L’Oréal For The Future commitments, which the company says prioritizes bio-based ingredients in its formulations and allows sustainable alternatives to be produced at the scale needed to meet the global demand for responsible beauty.
