Carbios and Wankai Partner to Build a PET Biorecycling Plant in China

Strategic Partnership and Plant Construction

According to the press release, Carbios and Wankai New Materials, a subsidiary of Zhink Group, have entered into a strategic partnership agreement to deploy Carbios' PET biorecycling technology on a large scale in Asia. The first step of this agreement includes the construction of a PET biorecycling plant in China. On December 2, 2025, the two companies signed a shareholders' agreement for their joint venture, dedicated to the construction and operation of a plant capable of processing 50,000 tons of PET waste. Wankai will hold 70% of the joint venture, while Carbios will own 30%. The €115 million required for the construction of the plant will be financed 30% through equity and 70% through debt guaranteed by Wankai.

Plant Location and Licensing Agreement

The plant will be located in Haining, Zhejiang province, on a site provided by Wankai, already equipped with the necessary infrastructure, which will reduce investment costs. Construction is expected to begin in the first quarter of 2026, and the plant is scheduled to be operational by the first quarter of 2027. Additionally, Carbios and Wankai have approved a licensing agreement, which Carbios will grant to the joint venture upon its establishment.

Long-Term Commitment and Licensing Terms

Carbios and Wankai have expressed their commitment to a long-term partnership aimed at building and operating multiple PET biorecycling plants in Asia. Carbios will grant an exclusive license for its PET depolymerization technology to Wankai for a period of three years, contingent on signing licenses for at least 100 kilotonnes per year of additional capacity. This period will be extended in five-year increments if licenses for at least 200 kilotonnes more are signed. Wankai has also committed to subscribing to a dedicated capital increase of €5 million in Carbios S.A. before June 2, 2026, at a price per share of €8.0947.