In a major step toward developing a circular plastics economy in Asia, CARBIOS (Euronext Growth Paris: ALCRB) and Wankai New Materials, a subsidiary of Zhink Group, have signed a binding agreement to jointly deploy CARBIOS’ revolutionary enzymatic PET biorecycling technology across Asia — beginning with the construction of a 50,000-tonne-per-year PET biorecycling plant in China.
This collaboration follows a Letter of Intent signed on June 24, 2024, and outlines the key principles of a long-term partnership aimed at building and operating multiple biorecycling plants across Asia, with a combined target capacity of one million tones per year. Read more at Kohan Textile Journal.
A Strategic Alliance for a Circular PET Industry
Under the agreement, CARBIOS will grant exclusive licensing rights for its PET biorecycling technology to a series of joint ventures established in the region. The first of these ventures will be dedicated to building and operating the initial Chinese plant, expected to begin construction in Q1 2026. The facility will process post-consumer PET waste into high-quality PTA and MEG monomers, enabling the production of infinitely recyclable PET materials.
Wankai, China’s third-largest PET producer and the fourth globally, will serve as the main shareholder and financier of the joint venture, further reinforcing its commitment to sustainable growth. As part of the collaboration, Wankai will also invest €5 million in CARBIOS S.A., strengthening the strategic partnership between the two companies.
“This agreement marks the first license for CARBIOS’ technology and confirms the viability of our business model,” said Vincent Kamel, CEO of CARBIOS. “Our cooperation with Wankai — one of China’s leading PET producers — is a key step in the international roll-out of our enzymatic recycling technology. Together, we will make a tangible contribution to a circular and low-carbon PET industry.”
A Milestone for Sustainable Innovation in Asia
The planned plant will be the first large-scale enzymatic PET recycling facility in Asia, designed to process 50,000 tonnes of PET waste annually. This initiative underscores the partners’ shared goal of advancing sustainable materials management and reducing the carbon footprint of the global plastics industry.
By leveraging CARBIOS’ biotechnological expertise and Wankai’s industrial scale, the partnership aims to demonstrate that enzymatic recycling can provide an efficient and sustainable alternative to traditional thermomechanical methods.
Looking Ahead
The project — including the formation of the joint venture, the construction of the first plant, and Wankai’s equity investment — remains subject to the signing of final agreements, expected by the end of 2025.
Once finalized, this collaboration will mark a defining moment for PET recycling innovation, positioning China as a leader in biorecycling technology deployment and accelerating the transition toward a fully circular PET economy across Asia.
