Paris, October 26, 2021--(Business Wire)--
Plastic Energy Ltd., Freepoint Eco-Systems LLC and TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) have announced the establishment of a strategic partnership in the United States. According to the agreement, Plastic Energy and Freepoint Eco-Systems plan to establish one An advanced recycling plant in Texas that will use the patented technology of plastic energy to convert scrap plastic waste into a recycled raw material called TACOIL. TotalEnergies will convert this raw material into an original quality polymer that can be used in food-grade packaging.
The project will treat and convert 33,000 tons of post-consumer plastic waste each year, otherwise these wastes will be sent to landfills or incinerated. The plant is expected to be operational in mid-2024, and TACOIL will be used to manufacture high-quality polymers at TotalEnergies' production unit in Texas, enabling the production of flexible and rigid food packaging containers and other products.
Plastic Energy, Freepoint Eco-Systems and TotalEnergies are all firmly committed to the development of plastic recycling to solve the problem of plastic waste and build a more circular and sustainable economy in the United States and the world. In order to fulfill this commitment, TotalEnergies and Plastic Energy announced in September 2020 the establishment of a joint venture to build a plastic waste conversion facility with an annual capacity of 15,000 tons on the TotalEnergies Grandpuits zero crude oil platform in France. The project is expected to be put into operation in early 2023.
"We are very pleased to announce Plastic Energy's first project in the United States. The region has great potential for the advanced plastic-to-plastic recycling market. Using our patents and innovative technologies, this new advanced recycling plant in the United States will become capable of processing Post-consumer waste, otherwise it will be incinerated, landfilled or eventually pollute the environment,” said Carlos Monreal, founder and CEO of Plastic Energy. "In cooperation with Freepoint and TotalEnergies, we will be able to recycle more plastic and reduce the consumption of natural resources, which is conducive to the circular economy."
"Freepoint Eco-Systems is pleased to work with these two like-minded companies to reduce plastic waste in landfills and increase the recycling of plastics that have been difficult to recycle. The Texas project will reduce the use of fossil raw materials. Demand, which leads to carbon staying underground, a more sustainable economy and a healthier planet,” said Jeff McMahon, Managing Director of Freepoint.
"After establishing the first advanced recycling plant in France with Plastic Energy, this strategic partnership established in the United States is an important step in the development of advanced recycling of plastic waste globally and in the United States. It demonstrates our relationship with plastics. The promise of energy cooperation. Our customers meet the growing demand for innovative plastics with higher performance, especially for durable applications. This will help meet the challenges of the circular economy and achieve 30% of our production by 2030. Recyclable and renewable The ambition of polymers," said Valérie Goff, Senior Vice President of Polymers at TotalEnergies.
Plastic Energy is a global leader in the field of chemical recycling, providing sustainable solutions to help prevent plastic waste and convert previously unrecyclable plastic waste into valuable resources. Our patented and proven chemical recycling technology converts end-of-life plastic waste into the best raw material (TACOIL) for the manufacture of original quality recycled plastic. Plastic Energy currently has two continuously operating chemical recycling plants in Spain and is one of the few companies in the world to sell TACOIL. These companies make new plastics by converting scrap plastic waste into alternative petroleum. We are leading the transformation of our field to a plastic low-carbon circular economy. Please visit our website www.plasticenergy.com and follow us on Twitter and LinkedIn.
Freepoint Eco-Systems is a subsidiary of Freepoint Commodities LLC, a global commodity trader that provides supply chain management services to its customers. The business of Freepoint Eco-Systems is to ensure the supply of unrecycled waste plastics and convert these wastes into reusable products through its own advanced recycling facilities. Freepoint Eco-Systems is expanding its recycled asset footprint in North America, Europe and Asia. www.FreepointEcoSystems.com.
TotalEnergies is a global multi-energy company that produces and sells energy worldwide: oil and biofuels, natural gas and green gas, renewable energy and electricity. Our 105,000 employees are committed to providing energy that is more affordable, cleaner, more reliable, and accessible to as many people as possible. TotalEnergies is active in more than 130 countries/regions, putting all aspects of sustainable development at the core of its projects and operations to promote people's well-being.
Twitter: @TotalEnergies LinkedIn: TotalEnergies Facebook: TotalEnergies Instagram: TotalEnergies
This press release is for reference only and will not have any legal consequences. The entity in which TotalEnergies SE directly or indirectly owns the investment is a separate legal entity. TotalEnergies SE assumes no responsibility for its actions or omissions. The terms "Company" or "TotalEnergies Company" collectively refer to TotalEnergies SE and the companies directly or indirectly controlled by it. Such terms are used only for the purpose of facilitating this communication. Similarly, "we," "our," and "our" can also be used to refer to subsidiaries or people who work for them. This document may contain forward-looking information and statements based on a large number of economic data and assumptions in a specific economic, competitive and regulatory environment. They may prove to be inaccurate in the future and will be affected by many risk factors. Whether due to new information, future events or other reasons, TotalEnergies SE or any of its subsidiaries does not undertake any obligation to publicly update any forward-looking information or statements, goals or trends contained in this document.
Plastic Energy press@plasticenergy.com or 44 (0)7557 969 966
Freepoint Ecosystem Paige Thornton RF|Binder 212-994-7554 paige.thornton@rfbinder.com
TotalEnergies Media Relations: 33 1 47 44 46 99 l presse@totalenergies.com l @TotalEnergiesPR Investor Relations: 44 (0)207 719 7962 l ir@totalenergies.com
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