CARBIOS and Wankai partner to deploy PET biorecycling technology in Asia, starting with a 50,000-ton plant in China.
Following their initial commitment on November 6, 2025, CARBIOS and Wankai New Materials, a publicly listed subsidiary of Zhink Group, have finalized a definitive agreement establishing a strategic partnership aimed at the large-scale deployment of CARBIOS’s PET biorecycling technology across Asia. Zhink Group ranks as the third-largest PET producer in China and the fourth-largest globally. The partnership’s immediate objective is the construction of a PET biorecycling plant in China, marking a significant milestone in advancing sustainable plastic recycling technologies.
On December 2, 2025, both companies signed a shareholders’ agreement for their joint venture, which will oversee the design, construction, and operation of the first PET biorecycling facility in China. The plant is planned to process up to 50,000 tons of PET waste annually, reflecting a substantial step forward in industrial-scale plastic recycling. Under the agreement, Wankai will hold a 70% majority stake in the joint venture, with CARBIOS retaining a 30% share. The estimated €115 million required for construction will be financed with a combination of 30% equity and 70% debt, with all debt fully guaranteed by Wankai.
The facility will be established in Haining, located in Zhejiang Province, on land provided by Wankai. Leveraging existing infrastructure such as equipment and waste management systems, the project will benefit from reduced initial investment costs. Construction is anticipated to begin in the first quarter of 2026, with the plant expected to become operational by the first quarter of 2027.
Additionally, on December 2, 2025, CARBIOS and Wankai ratified a licensing agreement whereby CARBIOS will grant its PET depolymerization technology to the joint venture upon its formal incorporation. This agreement also lays the foundation for a long-term collaboration between the two companies, with the ambition to establish and operate multiple PET biorecycling plants throughout Asia. Under the terms, CARBIOS will exclusively license its PET recycling technology to Wankai in the region for an initial period of three years, contingent upon signing licenses for a minimum of 100 kilotons per year of additional processing capacity. This exclusivity period can be extended in five-year increments if further licenses are secured for at least 200 kilotons per year of additional capacity.
To reinforce this strategic collaboration, Wankai has pledged to participate in a dedicated capital increase of €5 million in CARBIOS S.A. by June 2, 2026. The subscription will be based on an issue price of €8.0947 per share, reflecting the volume-weighted average price over the last five trading days preceding December 1, 2025, minus a 10% discount.
Vincent Kamel, CEO of CARBIOS, emphasized: “This agreement represents a major strategic milestone with Zhink Group. It accelerates the international deployment of our innovative PET biorecycling technology, reinforcing our commitment to combating plastic pollution and promoting a sustainable future.”
