TotalEnergies has bought Plastic Energy's 35% stake in the Grandpuits chemical recycling plant near Paris, becoming sole owner. The facility processes up to 15,000 tonnes a year of hard-to-recycle plastic waste. No deal value was disclosed.
Why this mattersFull ownership gives TotalEnergies direct control of a chemical-recycling feedstock source as recycled-content mandates under PPWR increase demand for such material.
- TotalEnergies acquired Plastic Energy's 35% stake in the Grandpuits facility
- The plant is located outside Paris, France
- Annual processing capacity is 15,000 tonnes of difficult-to-recycle plastic waste
- TotalEnergies now holds 100% of the plant
- Deal value was not disclosed
Plastic Energy has transferred its stake in the TotalEnergies Plastic Energy Advanced Recycling (TEPEAR) facility in Grandpuits, France, giving TotalEnergies full ownership. The plant will keep operating at industrial scale using Plastic Energy's proprietary TAC pyrolysis technology, with the divestment forming part of Plastic Energy's restructuring under returning CEO Carlos Monreal to focus on its Spanish plants and partnerships.
Why this mattersConsolidation of chemical recycling assets under oil majors signals technology licensors retreating from capital-heavy plant ownership toward asset-light licensing models.
- Plastic Energy transferred its stake in the TEPEAR facility in Grandpuits, France, to TotalEnergies.
- TotalEnergies now holds full ownership of TEPEAR.
- The plant continues to use Plastic Energy's proprietary TAC chemical recycling technology.
- Carlos Monreal, Plastic Energy founder, has returned as CEO and is leading a restructuring around core operations.
- Plastic Energy will continue operating chemical recycling plants in Almeria and Seville, Spain.
- Plastic Energy produced its first batch of pyrolysis oil, Tacoil, last year at a joint venture facility with Sabic.
