Plastic Energy and TotalEnergies Sign an Agreement for an Advanced Recycling Project in Spain
January 11 2022 - 2:26AM
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Plastic Energy and TotalEnergies (Paris:TTE) (LSE:TTE)
(NYSE:TTE) have announced a new agreement to promote the
development of advanced plastic recycling. Under this agreement,
Plastic Energy plans to build a second advanced recycling plant in
Sevilla, Spain, in addition to their existing operational plant,
which will transform end-of-life plastic waste into a recycled
feedstock called TACOIL using Plastic Energy’s patented recycling
technology. TotalEnergies will convert this raw material into
virgin-quality polymers, which can be used for food-grade
packaging.
The plant will process and convert 33,000 tons of post-consumer
end-of-life plastic waste yearly, that would otherwise be destined
for landfill or incineration. The plant is expected to become
operational in early 2025, with TACOIL to be used for the
manufacturing of high-quality polymers in TotalEnergies’
European-based production units, following a successful processing
experimentation in TotalEnergies’ petrochemical platform in
Antwerp. With identical properties to virgin ones, the 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
develop plastics recycling to address the issue of plastic waste,
and to build a circular economy in Europe and globally. In line
with this commitment, TotalEnergies and Plastic Energy have
announced in September 2020 a joint venture to build a plastic
waste conversion facility with a capacity of 15,000 tonnes per year
at the TotalEnergies Grandpuits zero-crude platform in France. The
project is expected to 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, U.S.A. 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 is expected to be operational by mid-2024. Under the
agreement, TACOIL will be converted by TotalEnergies in its
Texas-based production units.
“I am pleased to announce another new Plastic Energy plant in
Spain, and a new collaboration agreement with our partner,
TotalEnergies” said Carlos Monreal, founder and CEO of Plastic
Energy. “This new large-scale recycling plant will be an
impactful addition to our existing portfolio of operational plants
in Spain and will allow for an increase in the amount of
end-of-life plastics that we can recycle in Europe.”
“This new project with Plastic Energy in Spain follows two
collaboration projects already announced in France and the U.S.
Those projects contribute to addressing the challenge of the
circular economy and to our ambition of producing 30% recycled and
renewable polymers by 2030,” said Valérie Goff, Senior Vice
President, 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,
transforming previously unrecyclable plastic waste into a valuable
resource. Our patented and proven chemical recycling technology
converts end-of-life plastic waste into an optimal feedstock
(TACOIL) for making virgin-quality recycled plastics. Plastic
Energy currently has two chemical recycling plants that are in
constant operation in Spain and is one of the few companies
worldwide that has sold TACOIL from the conversion of end-of-life
plastic waste to replace fossil oils in the manufacturing of 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.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
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 puts sustainable development in all its
dimensions at the heart of its projects and operations to
contribute to the well-being of people.
@TotalEnergies TotalEnergies TotalEnergies
TotalEnergies
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which is filed by TotalEnergies SE with the French securities
regulator Autorité des Marchés Financiers (AMF), and in the Form
20-F filed with the United States Securities and Exchange
Commission (SEC).
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- press@plasticenergy.com or +44 (0)7557 969 966
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