CARBIOS and Wankai New Materials, a listed subsidiary of the Zhink Group — the third-largest PET producer in China and the fourth-largest globally — have reached an agreement on the key principles of a long-term collaboration to deploy CARBIOS’ enzymatic PET recycling technology across Asia.

Under this agreement, CARBIOS and Wankai plan to jointly develop and operate multiple PET biorecycling plants across Asia, targeting a total capacity of one million tonnes per year in the long term. As part of this collaboration, CARBIOS would grant exclusive licenses for its enzymatic PET recycling technology to the joint ventures established within this framework for the Asian market.

The first step of this partnership will be the creation of a joint venture dedicated to the construction and operation of a PET biorecycling plant in China with an annual processing capacity of 50,000 tonnes of PET waste. CARBIOS will license this entity to produce PTA and MEG monomers using its proprietary biorecycling process.

Wankai, as the majority shareholder of the new joint venture, will provide full financial support for this initial project. Construction of the first plant is expected to begin in the first quarter of 2026.

In parallel, Wankai will invest EUR 5 million in the share capital of CARBIOS S.A., strengthening the strategic partnership between the two companies.

The partnership, including the establishment of the first plant and the equity investment in CARBIOS, remains subject to the completion and signing of definitive agreements, including the shareholders’ agreement and the license contract. Both parties aim to finalize and sign these agreements by the end of 2025.

This collaboration would mark the first licensing agreement for CARBIOS’ technology, confirming the commercial viability of its business model.

As the world’s leading PET-producing country, China represents a key strategic market for CARBIOS. This agreement marks a major milestone for both partners, who are committed to accelerating the development of a circular PET economy in Asia.

“This agreement represents a key milestone in the international deployment of our technology and a significant step forward in implementing our licensing model. Our partnership with Wankai, the third-largest PET producer in China, will enable the production of enzymatically recycled PET, contributing meaningfully to the transition toward a more circular and low-carbon PET industry,” said Vincent Kamel, Chief Executive Officer of CARBIOS.