• UK-based plastic recycling solutions provider, Plastic Energy, has signed a new agreement with major oil and gas firm TotalEnergies to develop a recycling plant in Sevilla, Spain. The two companies previously partnered in September 2020 and October 2021 to develop recycling plants in France and Texas, respectively.

• The new partnership will oversee building a plant that can process 33,000 tonnes of post-consumer plastic waste annually and convert them into TACOIL (recycled feedstock, an alternative to fossil oil) to be used in producing virgin-quality polymers. The plant is expected to be operational in Q1 2025 and would be Plastic Energy’s second recycling plant in Spain. The company has been operating a recycling plant in Spain since 2017.

• The new plant is expected to allow Plastic Energy to increase the amount of plastic recycled in Europe. For TotalEnergies, the partnership caters to its commitment to generating 30% recycled and renewable polymers by 2030.

<ul><li> Analyst QuickTake : Plastic Energy has been actively partnering to scale its patented technology solution, which converts waste into recycled feedstock. Apart from the partnership with Total Energies, Plastic Energy has also further expanded in Europe by partnering with Nestlé to build a recycling plant in the UK and with ExxonMobil to construct an advanced recycling plant in France by 2023. In addition to TotalEnergies, for the Texas plant, the company had also collaborated with Freepoint Eco-Systems .</ul>