Carbios: Chinese PET Biorecycling Plant Postponed to 2028
Carbios announced on Tuesday a delay in the schedule of its industrial project in China with Wankai New Materials. The first PET biorecycling plant in Haining is now expected to commence operations by the first half of 2028 due to technical adaptations required by the innovative process.
Technical Adaptations for 2028 Commissioning
The joint industrial project between Carbios and Wankai is progressing on preparatory steps and validation of locally accessible waste. However, the innovative nature of the enzymatic PET biorecycling process necessitates additional technical work to adapt the technology to the site's specificities. Carbios indicates that the commissioning of the first plant, located in Haining in Zhejiang province, has been postponed and is expected to occur by the first half of 2028.
Capital Increase Postponed Until End of 2026
In this context, Carbios and Wankai have agreed to defer Wankai's subscription to a reserved capital increase of €5 million. This operation, initially planned for the first half of 2026, is now expected to take place by December 31, 2026, subject to administrative and regulatory approvals in China. The plant will have a capacity to process 50,000 tonnes of PET waste per year and will be a major step in the industrialization and deployment in Asia of the enzymatic biorecycling technology developed by Carbios.
Cash Reserves of €59 Million to Fund Priorities
Carbios closed the 2025 fiscal year with a cash reserve of €59 million at the group level, enabling it to cover its operational expenses well beyond the next twelve months. This financial visibility provides the company with the means to ensure the execution of its strategic priorities and the advancement of its projects.
