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Wankai New Materials, a prominent manufacturer of bottle-grade PET plastic in China, is partnering with French biotech firm Carbios S.A. to establish a €115 million (approximately $130 million) factory in China. This project will pioneer the large-scale use of enzyme-based degradation technology for waste PET in Asia.
Located in Zhejiang province, the facility is slated to process around 50,000 tons of waste polyester annually, according to company announcements. Headquartered in Clermont-Ferrand, Carbios specializes in PET recycling innovations. Their unique enzyme-driven process breaks down PET plastic into basic components, facilitating the creation of high-quality recycled PET. Beyond this partnership, Carbios has collaborated with several global brands across the cosmetics, beverage, and apparel sectors, including Nestlé and Pepsi, to promote circular economy practices.
This joint venture marks the first large-scale deployment of enzyme-based PET degradation technology in Asia. Its goal is to produce top-grade, recycled polyester with a low carbon footprint, positioning it as a preferred sustainable raw material in the beauty, beverage, sports, and fashion industries worldwide.
By leveraging Carbios’s biodegradable enzyme technology, the new plant intends to recycle and produce monomers such as purified terephthalic acid (PTA), monoethylene glycol (MEG), and regenerated PET products. This approach aims to achieve complete recyclability of polyester materials that traditionally pose recycling challenges.
The partnership will be formalized through a joint venture in which Wankai will hold a 70% stake, while Carbios will own the remaining portion. The joint venture will oversee the construction and operation of the factory.
Additionally, Wankai plans to invest €5 million (about $5.8 million) into the company through a capital increase, making it a minority shareholder of Carbios and granting a seat on the company’s board. Details regarding the exact shareholding percentage after this investment were not disclosed.
Following the establishment of the joint venture, both companies will proceed to sign a technology licensing agreement granting Carbios exclusive rights to its PET decomposition technology across Asia for three years. If the plant’s annual waste PET processing capacity reaches one million tons, this license will convert into a perpetual arrangement.
The biocatalysts utilized at the plant will be supplied by Novonesis, Carbios’s exclusive producer globally. Carbios commits to providing enzyme formulations based on cutting-edge technology and ensuring a steady supply.
Financial specifics related to this project were not disclosed. However, available data indicates that Novonesis currently operates three manufacturing facilities in China, dedicated to producing specialized enzymes for Carbios’s applications.
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