Wedoany.com Report-Dec.4, CARBIOS, a France-based leader in enzymatic PET recycling, and Wankai New Materials, a major Chinese PET producer and listed subsidiary of Zhink Group, have signed a joint venture agreement to deploy CARBIOS' biorecycling technology across Asia, beginning with a flagship plant in China.

The facility will be designed to handle 50,000t of PET waste per year.

The shareholders' agreement, executed on December 2, 2025, establishes a joint venture that will build and operate China's first industrial-scale PET biorecycling facility. Located in Haining, Zhejiang Province, on land provided by Wankai, the plant will process 50,000 tonnes of PET waste annually.

Wankai will hold a 70% stake in the JV, with CARBIOS owning 30%. The project's estimated construction cost of €115 million will be financed through 30% equity and 70% debt, with Wankai guaranteeing the full debt portion. The existing infrastructure at the Haining site is expected to reduce overall capital requirements.

Construction is scheduled to begin in the first quarter of 2026, with commercial commissioning targeted for the first quarter of 2027.

Simultaneously, CARBIOS has granted the JV a licence for its proprietary PET depolymerisation technology. The partnership is structured as a long-term collaboration, with plans for multiple biorecycling plants throughout Asia.

CARBIOS has provided Wankai a three-year exclusive right to licence the technology in the region, contingent on securing additional licences for at least 100,000 tonnes per year of capacity. As part of the agreement, Wankai has committed to subscribe to a €5 million capital increase in CARBIOS at €8.09 per share by June 2, 2026.

CARBIOS CEO Vincent Kamel stated: "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."

The joint venture combines CARBIOS' breakthrough enzymatic recycling process with Wankai's extensive PET production and regional infrastructure expertise, establishing a scalable model for large-volume PET waste biorecycling in one of the world's largest PET markets.