Solenne Brouard Gaillot (P11), talks about her passion for entrepreneurship, Quebec and environmental technologies.

Founder of Polystyvert, a pioneering plastics recycling company, Solenne Brouard Gaillot, who graduated from Rennes School of Business in 2004, tells us all about her incredible 12-year entrepreneurial adventure: from patent research to the development of the first plants. Along the way, she gives us her advice on doing business in Quebec and her vision of the clean energy and technology market. In March 2024, she embarked on a new challenge: to help the French biogas pioneer conquer the American market.

Can you tell us a little about your background?

I studied for two years at the Rennes School of Business, followed by a gap year at the PSA plant south of Rennes. My final year was spent in Quebec as an exchange student with the University of Sherbrooke. That was 21 years ago and I haven't left this country since! It's worth remembering that the IT bubble had just burst and job prospects in France weren't promising. So I started my career with Bombardier in Quebec and worked in aeronautics until 2011, when I founded Polystyvert.

Polystyvert is a plastics recycling company. We have developed an innovative closed-loop technology for recycling styrenic plastics. Initially, we only recycled polystyrene (PS), but we then extended our technology to ABS, a thermoplastic polymer used in Lego bricks and telephone casings. This diversification was a game changer for Polystyvert, which is now valued at 38 million Canadian dollars (26 million euros).

How did this desire for entrepreneurship come about?

Contrary to what you might think, I've never felt secure in a big company. I felt that I lacked control over my work and was dependent on decisions taken far above me. I realized that I'd have to wait many years to reach the level of responsibility that interested me. So I decided to become an entrepreneur in the field I was passionate about: protecting the environment.

The birth of Polystyvert was an incredible gamble. Can you tell us about it?

"15 years ago, everyone was talking about the challenge of recycling plastics, but little was being done. I did a lot of research into polystyrene to find out why it wasn't being recycled. It turned out to be very difficult to purify. Only SONY had seriously tackled this technical challenge to recycle its electronics packaging, but Japan's economic crisis put an end to the trials and the patent fell back into the public domain."

In 2011, I decided to resume this research with the help of a chemist. I obtained an initial grant of 13,000 Canadian dollars from the government corporation that manages recovery and recycling in Quebec. While the first technical study led to a dead end, the market study revealed a real market demand. So I put together a business plan, which this time enabled me to raise almost $1 million from both Quebec and the federal government, enough to resume the technical study. In the end, it was Professor Roland Côté of the Université du Québec à Trois-Rivières who enabled us to come up with a patentable solution. Thanks to this patent, I was able to raise €5 million from Anges Québec and pave the way for prototyping and a first factory: Polystyvert was born.

What lessons have you learned from your 12 years with Polystyvert?

What we do is important, but how we present it is even more so. It's crucial to have a communication strategy that's not only customer-focused, but also aimed at our investors, our employees and all our partners.

"A successful business plan is based on solving a problem, or "pain point", efficiently and quickly, for customers capable of financing ambitious goals. Targeting a customer base with strong economic potential is essential to ensure the company's long-term success."

However, you need to find the right mix of grants, loans and equity to secure the financing you need to take your business forward without losing control. It's better to pay a lot of money for a private lawyer to look after your interests and help you sign a good agreement.

Generally speaking, I think it's essential to recruit high-caliber employees who share our values, even if this means a higher salary. Hiring the wrong person can be very costly in the long run. For my part, I have surrounded myself with a very competent CTO and CFO who have enabled us to achieve our objectives more quickly and successfully.

How did you feel it was time to leave the company?

After polystyrene, Polystyvert diversified into ABS, a plastic used in Lego bricks and phone covers. This was a major change that made the company profitable. We carried out a round of financing to prepare for the construction of a large plant. This gave me the unexpected opportunity to sell my shares, and I took it.

A favorable opportunity to sell your shares doesn't come along every day. Even if you're not yet where you want to be, but you've come a long way, be grateful and seize the opportunity to explore new horizons.

What are your new projects?

I recently met the President and founder of a French company specializing in biogas purification. Building on its growth in the European market, the company decided to tackle North America, starting with Quebec. He then asked me to take up the position of CEO North America, to help establish the company across the Atlantic. I accepted this mission with enthusiasm, as it was perfectly in line with my convictions and values.

I firmly believe that the energy sector is the one where we can have the greatest impact on environmental protection, given that the majority of greenhouse gas emissions come from this sector. Biogas makes a direct contribution to reducing these emissions, and for me, it's crucial to do something about it.

What's more, gas prices are rising sharply, which is extremely motivating in a sector where customer demand is high. This growth will enable us to create jobs and foster sustainable economic development.

"The alliance between economy and ecology has always been a priority for me, and I'm delighted to be able to continue working in this direction."

The challenge ahead of me is particularly stimulating. I'm starting from scratch, alone with a local consultant and a huge market to conquer. But that's what I like about my job: You have to stand up for what you believe in! I'm already dreaming about the first plant, its inauguration, the service we're going to provide, the growth we're going to create.

What challenges and opportunities lie ahead for players in the circular economy?

A major challenge for clean technologies is to become economically competitive with oil- or other fossil fuel-based technologies that have been optimized for decades, if not centuries. The transition between these two types of technology is costly, making it difficult for major players to invest in this area. Although government incentives and regulations are already in place, they are not enough. There is strong resistance on the part of some players to changing their model.

Recycling, in particular, is costly for several reasons. The logistical costs of transporting waste to recycling centers are high. The sheer diversity of materials makes sorting difficult. Not to mention the fact that many people don't sort their waste seriously, because they haven't been made sufficiently aware of all that's possible to sort today.

The impact of climate change is also largely underestimated. Many players fail to realize the scale of the challenges ahead, and geopolitical tensions caused by globalization relegate climate change management to the back burner.

The sector does, however, present some excellent opportunities. Rising gas prices have accelerated the energy transition, notably by abandoning gas as a fossil fuel.

Asia has a strong demand for clean technologies, which is stimulating the development of this economic sector. But it is mainly in Europe that they are emerging. European regulations are encouraging local players to find more sustainable solutions, contributing to the rise of clean technologies. "The export of these technologies to Asia and America represents a source of growth on which Europe should rely more."

Clean technologies are also a powerful lever for market differentiation. At equivalent prices, consumers prefer to buy sustainable products. There is even a market for high-end products with ecological features. Adopting sustainable practices is also a real asset for your employer brand.

Why do business in Canada rather than France?

In Canada, and more broadly in North America, the culture of entrepreneurship is much more prevalent than in France. It's valued to take risks to pursue your dreams, to experiment and even to make mistakes and failures. This mentality is also accompanied by greater flexibility in the job market. While it's easier to lose one's job, it's also easier to find a new one.

However, there are important differences to consider. For example, the pace of work. By law, only two weeks of paid vacation are granted per year in Canada, and employees earn additional weeks according to their length of service with the company. On the other hand, few people work after 5 p.m., and days are less hectic than in France.

Still on a cultural level, Quebecers tend to be on first-name terms with everyone. The French may interpret this as a form of closeness or conviviality. However, while this may reflect a certain social fluidity and a hierarchy that's more horizontal than in France, we mustn't be misled into thinking that it necessarily implies a close relationship. It's up to you to prove your motivation and prove yourself!