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

TotalEnergies SEAnnouncement

26/10/2021 08:05

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

 

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.”

“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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.plasticenergy.com&esheet=52515394&newsitemid=20211026005508&lan=en-US&anchor=www.plasticenergy.com&index=1&md5=6e483ec67848bdab92d403a755d30b98)
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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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.FreepointEcoSystems.com&esheet=52515394&newsitemid=20211026005508&lan=en-US&anchor=www.FreepointEcoSystems.com&index=4&md5=c2e67bb090d920c9b408a89337859707)
.

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.

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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.

Plastic Energy

press@plasticenergy.com (mailto:press@plasticenergy.com) or +44 (0)7557 969
966

Freepoint Eco-Systems 

Paige Thornton

RF|Binder

212-994-7554

paige.thornton@rfbinder.com (mailto:paige.thornton@rfbinder.com)

TotalEnergies

Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com
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