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• A strategic joint venture has been formed to build a major PET biorecycling plant in China, representing the first large-scale deployment of CARBIOS's enzymatic recycling technology in Asia.
• The facility, located in Haining, will process 50,000 tons of PET waste annually and is scheduled to begin operations in early 2027.
• Wankai New Materials, a subsidiary of global PET producer Zhink Group, holds a 70% stake in the venture, with CARBIOS owning the remaining 30%.
• The total project cost is estimated at 115 million euros, financed through equity and debt fully guaranteed by Wankai.
• This plant is the initial step in a long-term partnership, with plans to develop multiple biorecycling facilities across the region.
• As part of the agreement, CARBIOS has granted Wankai an exclusive three-year licensing window for its technology in Asia, contingent on securing additional capacity commitments.
• To solidify the alliance, Wankai has committed to a 5 million euro capital investment in CARBIOS by mid-2026.

CARBIOS and Wankai New Materials, a subsidiary of the global PET producer Zhink Group, have entered a definitive agreement to form a strategic partnership. This alliance aims for the widespread adoption of CARBIOS's enzymatic PET recycling technology across Asia, starting with a major biorecycling facility in China.

On December 2, 2025, the companies signed a shareholders' agreement to create a joint venture. This entity will build and operate an initial plant in China with an annual capacity to process 50,000 tons of used PET. Wankai will hold a 70 percent majority stake in the venture, with CARBIOS owning the remaining 30 percent. The estimated construction cost of 115 million euros will be funded through a mix of equity and debt, with Wankai providing guarantees for all borrowed funds.

The facility will be situated in Haining, within Zhejiang province, on a site provided by Wankai. Utilizing existing infrastructure there is expected to lower investment requirements. Construction is planned to start in early 2026, with operations commencing by the first quarter of 2027.

Alongside the joint venture agreement, the partners have approved a licensing agreement. CARBIOS will formally grant the license for its technology to the joint venture upon its establishment.

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This project marks the first step in a broader, long-term collaboration. Both companies intend to develop and run multiple PET biorecycling plants in Asia. As part of the partnership, CARBIOS has granted Wankai an exclusive three-year licensing window for its technology in Asia. This exclusivity is contingent upon signing agreements for at least 100,000 tons of additional annual recycling capacity within that period, and can be extended in five-year increments by meeting further capacity milestones.

To solidify their strategic relationship, Wankai has committed to a five million euro investment in CARBIOS. This capital increase, to be completed by June 2, 2026, will be based on a share price calculated from a recent market average, adjusted with a defined discount.