{"id":10617,"date":"2025-12-03T08:44:32","date_gmt":"2025-12-03T13:44:32","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=10617"},"modified":"2025-12-03T08:44:32","modified_gmt":"2025-12-03T13:44:32","slug":"carbios-and-wankai-to-set-up-china-jv-for-pet-biorecycling","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=10617","title":{"rendered":"CARBIOS and Wankai to set up China JV for PET biorecycling\u00a0"},"content":{"rendered":"


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The facility will be designed to handle 50,000t of PET waste per year. Credit: Itxu\/Shutterstock.com. <\/figcaption><\/figure>\n<\/p><\/div>\n

France-based CARBIOS and China\u2019s Wankai New Materials, a listed subsidiary of Zhink Group, have agreed to form a joint venture (JV) partnership for the industrial rollout of CARBIOS\u2019 polyethylene terephthalate (PET) biorecycling technology in Asia.\u00a0<\/p>\n

The partnership will start with a new facility in China.\u00a0<\/p>\n

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Following the signing yesterday (2 December), the two companies have sealed a shareholders\u2019 agreement to create a JV that will construct and operate what is described as the debut PET biorecycling plant in the country.<\/p>\n

The facility will be designed to handle 50,000 tons (t) of PET waste per year.\u00a0<\/p>\n

Under the agreed structure, Wankai will own 70% of the JV, with CARBIOS holding the remaining 30%.\u00a0\u00a0<\/p>\n

The plant\u2019s construction cost, estimated at \u20ac115m ($134.1m), will be funded through a mix of 30% equity and 70% debt, with Wankai providing guarantees for the entire debt portion.\u00a0<\/p>\n

The plant is to be built in Haining, in Zhejiang province, on a site made available by Wankai.\u00a0\u00a0<\/p>\n

The location already benefits from existing infrastructure, which the partners say will lower the overall capital requirements for the project.\u00a0\u00a0<\/p>\n

Construction is set to start in the first quarter (Q1) of 2026, with commissioning expected in Q1 2027.\u00a0<\/p>\n

In parallel, the parties approved a licence agreement yesterday under which CARBIOS will licence its PET depolymerisation technology to the new JV.<\/p>\n

The collaboration is framed as a long-term arrangement, with the two companies aiming to develop several PET biorecycling facilities across Asia.\u00a0\u00a0<\/p>\n

CARBIOS has agreed to grant Wankai exclusive rights, for an initial three-year period, to licence its PET depolymerisation technology in the region. <\/p>\n

This exclusivity is conditional on the signing of licences covering at least 100 kilotonnes per year of additional capacity.\u00a0<\/p>\n

As part of the wider agreement, Wankai has also undertaken to participate in a \u20ac5m capital increase in CARBIOS by 2 June 2026.\u00a0\u00a0<\/p>\n

The shares will be priced at \u20ac8.09 each.\u00a0<\/p>\n

CARBIOS CEO Vincent Kamel said: \u201cThe signing of this agreement marks the achievement of a major strategic partnership with Zhink Group. <\/p>\n

\u201cWe are taking a decisive step forward to accelerate the international deployment of our technology, a key innovation in the fight against plastic pollution.\u201d\u00a0<\/p>\n

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