Plastic Energy

Based in Spain, Plastic Energy offers a patented chemical recycling technology called Thermal Anaerobic Conversion (TAC) to convert end-of-life plastics (including high and low-density polyethylene,  polypropylene, and polystyrene) into feedstock called TACOIL, which can be used in producing virgin-quality plastics. 

As of March 2024, the company operated two chemical recycling facilities in Spain. In August 2023, the company established a pilot plant at the Loughborough University Science and Enterprise Park to optimize its chemical recycling technology, test new feedstocks, and expand processes.

Key customers and partnerships

• In July 2023, SABIC Plastic Energy Advanced Recycling (SPEAR), a joint venture between Plastic Energy and SABIC, partnered with Siemer and Landbell to sort and pre-treat mixed and used post-consumer plastics.

• In June 2023, the company partnered with NOVA Chemicals to explore the feasibility of developing a pyrolysis-driven advanced recycling facility in Sarnia, Ontario, with an expected initial capacity of 66 kilotons per annum.

• In November 2023, the company partnered with SK Geo Centric to build a pyrolysis plant in Ulsan, South Korea, with a capacity of processing 66,000 tons of plastic waste per year, expected to start construction in the second half of 2025.

• In November 2022, the company partnered with INEOS Olefins & Polymers Europe, to jointly produce 100,000 tons per year of recycled raw materials from plastic waste by 2026.

• In January 2022, the company partnered with TotalEnergies to develop a recycling plant in Sevilla, Spain  capable of processing 33,000 tonnes of post-consumer plastic waste annually, expected to be operational in Q1 2025.

• In October 2021, the company partnered with Freepoint Eco-Systems and TotalEnergies to build an advanced plastic recycling unit in Texas, expected to start in mid-2024, processing 33,000 tons yearly.

Funding and Financials

In November 2021, Plastic Energy raised EUR 145 million (USD 168 million) in capital funding from UK-based investment firm LetterOne, French chemical company Axens, and British investment management company M&G. The fresh funds were expected to be allocated to further develop its technology and expand its network of recycling plants globally.