The reliance on non-regenerative business models has pushed planetary boundaries to their limits, with the chemical industry being a major contributor to social and environmental harm. Despite advances in sustainability in the chemical industry, progress remains incremental, falling short of the holistic and systemic transformation required. Regenerative business models offer a solution by adopting a holistic perspective on social-ecological systems, prioritizing planetary health and societal well-being. However, their theoretical development and practical application remain limited. To address this gap, we use a design science methodology to develop a process template that guides regenerative business model transformation. This study advances the understanding of their limited adoption and provides a practical framework for their implementation in the chemical industry.