The project remains a key element of the strategic partnership between the two companies and is intended to become China’s first industrial-scale PET biorecycling plant. Once operational, the facility will process up to 50,000 tonnes of PET waste annually using Carbios’ enzymatic recycling technology.

According to Carbios, progress continues on the preparatory activities required for the project, including engineering and coordination work related to the construction phase, as well as the validation of locally available PET waste streams. However, the company stated that additional technical work is required to adapt the innovative process to the specific characteristics of the Haining site.

As a consequence of the revised timeline, Carbios and Wankai have also agreed to postpone Wankai’s planned €5 million investment in Carbios through a dedicated capital increase. Originally scheduled for the first half of 2026, the transaction is now expected to be completed by the end of the year, subject to the necessary regulatory approvals in China.

Despite the delay, Carbios emphasized that its financial position remains solid. The company reported a Group cash position of €59 million at the end of fiscal year 2025, providing sufficient resources to fund operations and continue advancing its strategic projects.

The Haining plant is expected to serve as an important milestone in the industrialization of enzymatic PET recycling in Asia and a key reference project for the broader commercialization of Carbios’ technology.