Carbois and Wankai new materials have formalised a joint venture to build a 50,000-ton PET biorecycling plant in Haining, China, with €115 million (~$134.28 million) in financing.
Wankai holds 70 per cent and will guarantee all debt.
Construction starts early 2026 for a 2027 launch.
The deal includes long-term licensing across Asia and a €5 million (~$5.84 million) Wankai investment in Carbios.