CARBIOS and Wankai seal an agreement to deploy the PET biorecycling technology of CARBIOS at large scale, accelerating circular plastics in Asia. Pursuant to the commitment letter dated November 6, 2025, CARBIOS (Euronext Growth Paris: ALCRB) and Wankai New Materials (Wankai), listed subsidiary of Zhink Group, 3rd largest PET producer in China and 4th worldwide, announce the signing of the definitive agreement establishing a strategic partnership for the large-scale deployment of CARBIOS’s PET biorecycling technology in Asia, with the first stage being the construction of a PET biorecycling plant in China.
The two companies signed the shareholders’ agreement for their joint venture, dedicated to the construction and operation of a first PET biorecycling plant in China, with a capacity to process 50,000 tons of PET waste, on 2 December 2025. Wankai is going to be the majority shareholder in this company, with a 70% stake; the remainder will be held by CARBIOS. The plant construction, estimated at €115 million, is financed 30% by equity and 70% by debt; all the debt is guaranteed by Wankai.
Haining Site Selected; Construction Begins in 2026
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 also approved, on 2 December 2025, the license agreement to be granted by CARBIOS to the joint venture upon its incorporation.
CARBIOS and Wankai have agreed to a long-term cooperation with the ambition to establish and operate several PET biorecycling plants in Asia. CARBIOS will grant exclusive licenses of its PET depolymerization technology in Asia to Wankai for three years, on condition that licenses for at least 100 kt per year of additional capacity are signed with the latter within this time period. This duration shall be automatically prolonged for five-year periods provided that additional licenses for at least 200 kt per year of extra capacity are signed.
In order to strengthen the strategic partnership between the two companies, Wankai has committed to subscribing before 2 June 2026 to a dedicated capital increase in the share capital of CARBIOS S.A. amounting to 5 million euros paid at an issue price per share of 8.0947 euros, corresponding to the volume-weighted average of the last five trading days preceding 1 December 2025, reduced by a 10% discount.
