Plastic Energy and TotalEnergies sign an agreement for an advanced recycling project in Spain
PARIS & LONDON – (COMMERCIAL THREAD) – Regulatory news:
Plastic Energy and TotalEnergies (Paris: TTE) (LSE: TTE) (NYSE: TTE) have announced a new agreement to promote the development of advanced plastic recycling. As part of the deal, Plastic Energy plans to build a second state-of-the-art recycling plant in Seville, Spain, in addition to its existing operational plant, which will transform end-of-life plastic waste into a recycled raw material called TACOIL in using Plastic Energy’s patented recycling technology. TotalEnergies will transform this raw material into virgin quality polymers, which can be used for food grade packaging.
The plant will process and convert 33,000 tonnes of end-of-life post-consumer plastic waste annually, which would otherwise go to landfill or incineration. The plant is expected to become operational in early 2025, with TACOIL to be used for the manufacture of high-quality polymers in TotalEnergies ‘European production units, following a successful processing experiment on TotalEnergies’ petrochemical platform. in Antwerp. With identical properties to virgin polymers, recycled polymers will be suitable for use in food grade applications, such as flexible and rigid food packaging containers.
Plastic Energy and TotalEnergies are both firmly committed to developing plastics recycling to address the issue of plastic waste, and to build a circular economy in Europe and around the world. In accordance with this commitment, TotalEnergies and Plastic Energy announced in September 2020 a joint venture to build a plastic waste conversion plant with a capacity of 15,000 tonnes per year on the zero gross platform of TotalEnergies Grandpuits in France. The project should be operational in 2023.
Additionally, Plastic Energy, Freepoint Eco-Systems and TotalEnergies announced a strategic partnership in October 2021 for a similar recycling plant in Texas, United States. This plant, which is a joint venture between Plastic Energy and Freepoint Eco-systems, will have the capacity to recycle 33,000 tonnes of plastic waste per year, and should be operational by mid-2024. Under the terms of the agreement, TACOIL will be converted by TotalEnergies in its production units based in Texas.
“I am happy to announce a new plastic energy plant in Spain and a new collaboration agreement with our partner, TotalEnergies” noted Carlos Monreal, Founder and CEO of Plastic Energy. “This new large-scale recycling plant will be a powerful addition to our existing portfolio of operational plants in Spain and will increase the amount of end-of-life plastics we can recycle in Europe. “
“This new project with Plastic Energy in Spain follows on from two collaboration projects already announced in France and the United States. These projects help meet the challenge of the circular economy and our ambition to produce 30% recycled and renewable polymers by 2030. noted Valérie Goff, Deputy Managing Director of Polymers at TotalEnergies.
About Plastic Energy Ltd.
Plastic Energy is a global leader in chemical recycling, offering a sustainable solution to help prevent plastic waste, turning previously non-recyclable plastic waste into a valuable resource. Our patented and proven chemical recycling technology converts end-of-life plastic waste into an optimal raw material (TACOIL) for the manufacture of virgin quality recycled plastics. Plastic Energy currently has two chemical recycling plants that are permanently operating in Spain and is one of the few companies in the world to have sold TACOIL from the conversion of end-of-life plastic waste to replace fossil oils in manufacturing. new plastics. We are leading our field in the transition to a low carbon circular economy for plastics. Visit our website at www.plasticenergy.com and follow us on Twitter and Linkedin.
TotalEnergies is a global multi-energy company that produces and markets energy: oil and biofuels, natural gas and green gas, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies places sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities which are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “our” and “our” may also be used to refer to these entities or their employees. The entities in which TotalEnergies SE directly or indirectly holds a stake are separate legal entities. TotalEnergies SE is not responsible for the acts or omissions of these entities. This document may contain forward-looking information and statements based on a certain number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes the obligation to publicly update any forward-looking information or statements, objectives or trends contained in this document, whether as a result of new information, future events or other. Information concerning risk factors likely to affect TotalEnergies’ financial results or activities is provided in the latest Registration Document, the French version of which is filed by TotalEnergies SE with the Autorité des Marchés Financiers (AMF) , and in Form 20-F filed with the United States Securities and Exchange Commission (SEC).