CARBIOS (Euronext Growth Paris: ALCRB) and Wankai New Materials (Wankai), a listed subsidiary of Zhink Group, the 3rd largest PET producer in China and 4th globally, announce the signing of an agreement on the fundamental principles of a collaboration aiming to deploy CARBIOS PET enzymatic recycling technology in Asia.
Under the terms of this agreement, CARBIOS and Wankai would enter into a long-term commitment with the ambition to build and operate several PET biorecycling plants in Asia with a target capacity of one million tonnes per year. CARBIOS would grant, to the joint ventures formed under this agreement, an exclusive licence of CARBIOS technology for the Asian region.
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 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 EUR 5M investment in CARBIOS S.A. This investment would strengthen the strategic partnership between the two companies.