Plastic Recycling

Plastic Energy, Freepoint Eco-Systems and TotalEnergies partner on Advanced Recycling Project in the U.S.

Regulatory News:

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Plastic Energy Ltd., Freepoint Eco-Systems LLC and TotalEnergies (Paris:TTE) (LSE:TTE) (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.”