Core Insights - CARBIOS and Wankai New Materials have formed a joint venture to implement CARBIOS' PET biorecycling technology in Asia, starting with a facility in China [1][2] - The new plant will be the first PET biorecycling facility in China, designed to process 50,000 tons of PET waste annually [2] Financial and Operational Details - The construction cost of the plant is estimated at €115 million ($134.1 million), funded through 30% equity and 70% debt, with Wankai guaranteeing the debt [3] - Construction is scheduled to begin in Q1 2026, with commissioning expected in Q1 2027 [4] Strategic Agreements - CARBIOS will license its PET depolymerisation technology to the joint venture, with Wankai receiving exclusive rights for an initial three-year period [4][5] - Wankai is committed to a €5 million capital increase in CARBIOS by June 2, 2026, with shares priced at €8.09 each [5] Long-term Vision - The partnership aims to develop multiple PET biorecycling facilities across Asia, marking a significant step in addressing plastic pollution [6]