French Biotech Company Carbios and Wankai New Materials, a subsidiary of China’s Zhink Group and one of the world’s largest PET producers, have signed an agreement to jointly deploy Carbios’ groundbreaking enzymatic PET biorecycling technology across Asia.

The partnership’s first milestone will be the construction of a large-scale biorecycling plant in China, capable of processing 50,000 tonnes of PET waste annually, paving the way toward a long-term goal of one million tonnes of recycling capacity in the region.

Both companies have reached a binding agreement on the main principles of their collaboration, with a view to deploying a capacity of one million tonnes in the long term.

The first step of this collaboration will be the creation of a joint venture dedicated to the construction and operation of a first PET biorecycling plant in China, with an annual processing capacity of 50,000 tonnes of PET waste per year. Carbios will grant to this entity a licence to produce PTA and MEG monomers.

The financing of this future joint venture, in which Wankai would be the main shareholder, will be guaranteed by the latter. The construction project for the first plant is expected to start in the first quarter of 2026.

In addition, Wankai would make a € 5 million investment in Carbios. This investment would strengthen the strategic partnership between the two companies.