Circular Economy Carbios, Wankai New Materials to Deploy PET Biorecycling Technology on Large-Scale

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Under a definitive agreement signed between Carbios and Wankai New Materials, both the companies will work together for the large-scale deployment of Carbios’ PET biorecycling technology in Asia. This will also include the development of a PET biorecycling plant in China.

Clermont-Ferrand/France – In line with the commitment signed on November 6, 2025, Carbios and Wankai New Materials, a listed subsidiary of Zhink Group, the 3rd largest PET producer in China and 4th worldwide, have recently announced the signing of the definitive agreement establishing a strategic partnership for the large-scale deployment of Carbios’ PET biorecycling technology in Asia, with the first step being the construction of a PET biorecycling plant in China.

The two companies have signed on 2 December 2025 the shareholders’ agreement for their joint venture, dedicated to the construction and operation of a first PET biorecycling plant in China, with a processing capacity of 50,000 tons of PET waste.

Wankai will be the majority shareholder of this company with a 70 % stake, while Carbios will hold the remaining 30 %. The financing of the plant’s construction, estimated at 115 million euros, will be covered 30 % by equity and 70 % by debt, with all debt guaranteed by Wankai.

The plant will be located in Haining (Zhejiang province) on site provided by Wankai, which is already equipped with infrastructure (equipment, waste treatment, etc.),

thus reducing the investment cost. Construction is expected to begin during the first quarter of 2026, with commissioning targeted by the first quarter of 2027.

Carbios and Wankai have also approved on 2 December 2025 the license agreement, which will be granted by Carbios to the joint venture upon its incorporation.

Carbios and Wankai have committed to a long-term partnership with the ambition to build and operate several PET biorecycling plants in Asia. Carbios agrees to exclusively license its PET depolymerization technology in Asia to Wankai for a period of three years, subject to signing licenses with the latter for at least 100 kt per year of additional capacity. This term will be extended in five-year increments if additional licenses for at least 200 kt per year of extra capacity are signed.

To strengthen the strategic partnership between the two companies, Wankai has committed to subscribe, before 2 June 2026, to a dedicated capital increase of 5 million euros in the share capital of Carbios, paid on the basis of an issue price per share of 8.0947 euros, corresponding to the volume-weighted average of the last five trading days preceding the 1st of December 2025, reduced by a 10 % discount.

“The signing of this agreement marks the achievement of a major strategic partnership with Zhink Group. We are taking a decisive step forward to accelerate the international deployment of our technology, a key innovation in the fight against plastic pollution. This is a major milestone in bringing our licensing model to life: together, we will help build a more sustainable future,” shares Vincent Kamel, CEO of Carbios.

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