HOUSTON and PARIS, Oct. 26,
2021 /PRNewswire/ -- Plastic Energy Ltd., Freepoint
Eco-Systems LLC and TotalEnergies (NYSE: TTE) have announced a
strategic partnership in the U.S. Under this agreement, Plastic
Energy and Freepoint Eco-Systems plan to build an advanced
recycling plant in Texas, which
will transform end-of-life plastic waste into a recycled feedstock
called TACOIL using Plastic Energy's patented technology.
TotalEnergies will convert this raw material into virgin-quality
polymers, which can be used for food-grade packaging.
The project will process and convert yearly 33,000 tons of
post-consumer end-of-life plastic waste that would otherwise be
destined for landfill or incineration. The plant is expected to
become operational by mid-2024 with TACOIL to be used for the
manufacturing of high-quality polymers in TotalEnergies'
Texas-based production units,
enabling the creation of items such as flexible and rigid food
packaging containers.
Plastic Energy, Freepoint Eco-Systems and TotalEnergies are all
firmly committed to developing plastics recycling to address the
issue of plastic waste and to build a more circular and sustainable
economy in the U.S. and globally. In line with this commitment,
TotalEnergies and Plastic Energy announced in September 2020 a joint venture to build a plastic
waste conversion facility with a capacity of 15,000 tons per annum
at the TotalEnergies Grandpuits zero-crude platform in France. The project is expected to be
operational in early 2023.
"We are delighted to announce Plastic Energy's first project
in the U.S., which is a region that has enormous potential for the
plastic-to-plastic advanced recycling market. Using our patented
and innovative technology, this new advanced recycling plant in the
U.S. will be able to treat post-consumer waste that would otherwise
be incinerated, landfilled or end up polluting the
environment," said Carlos
Monreal, founder and CEO of Plastic Energy. "Working
with Freepoint and TotalEnergies, we will be able to recycle more
plastics and reduce the depletion of natural resources, which
benefits the circular economy."
"Freepoint Eco-Systems is thrilled to partner with these two
like-minded firms in an effort to reduce plastic disposed in
landfills and to increase the recycling of plastic that heretofore
has been challenging to recycle. The Texas project will reduce the need for fossil
feedstocks, which results in carbon left in the ground, a more
sustainable economy and a healthier planet," said Jeff McMahon, Managing Director of
Freepoint.
"This strategic partnership in the U.S. following the
construction of the first advanced recycling plant in France with Plastic Energy are important
steps in the development of the advanced recycling
of plastic waste worldwide as well as in the U.S. specifically. It
shows our commitment to work with our customers to meet the
growing demand for more innovative plastics with ever-higher
performance, especially for durable applications. It will
contribute to addressing the challenge of the circular economy and
to achieve 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 Freepoint Eco-Systems LLC
Freepoint Eco-Systems is an affiliate of Freepoint Commodities LLC,
a worldwide commodity merchant providing supply chain management
services to its customers. Freepoint Eco-Systems is in the business
of securing supply of waste plastic that is not being recycled and
converting that waste into reusable products via advanced recycling
facilities in which it has an ownership position. Freepoint
Eco-Systems is expanding its recycling asset footprint across
North America, Europe and Asia. www.FreepointEcoSystems.com.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, clean,
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.
Twitter: @TotalEnergies LinkedIn: TotalEnergies Facebook: TotalEnergies Instagram: TotalEnergies
Cautionary Note
This press release, from which no legal consequences may be drawn,
is for information purposes only. The entities in which
TotalEnergies SE directly or indirectly owns investments are
separate legal entities. TotalEnergies SE has no liability for
their acts or omissions. The terms "Company" or "TotalEnergies
company" refer collectively to the company TotalEnergies SE and the
companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present
communication. Likewise, the words "we", "us" and "our" may also be
used to refer to subsidiaries in general or to those who work for
them. This document may contain forward-looking information and
statements that are based on a 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 any obligation to update publicly
any forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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SOURCE TotalEnergies