Plastic Energy has transferred its stake in the TotalEnergies Plastic Energy Advanced Recycling (TEPEAR) plant to TotalEnergies, the first major move in a strategic restructuring of the chemical recycling company’s asset portfolio following founder Carlos Monreal’s return as chief executive.

 

The TEPEAR plant, located at TotalEnergies’ zero-crude Grandpuits complex outside Paris, began operations in March 2026 and has the capacity to recycle 15,000 tonnes of plastic waste a year.

 

The facility will continue operating at industrial scale under full ownership of TotalEnergies. Plastic Energy’s proprietary TAC technology will remain in use at the plant under a continuing licence and technology agreement.

 

The transaction sharpens Plastic Energy’s focus on its core operations in Spain and its existing joint venture in the Netherlands. The company will continue to own and operate its recycling plants in Almeria and Seville, as well as the SABIC Plastic Energy Advanced Recycling (SPEAR) joint venture plant in the Netherlands.

 

TotalEnergies’ decision to take full ownership of TEPEAR also signals continued backing for Plastic Energy’s chemical recycling technology, which converts hard-to-recycle plastic waste into a circular feedstock that can replace traditional fossil-based raw materials in polymer production.

 

"TotalEnergies's decision to fully own and operate TEPEAR is a vote of confidence in the technology that Plastic Energy has built. The successful commissioning of the TEPEAR site was crucial to Plastic Energy’s development, demonstrating how our technology is a bolt-on solution for the petrochemical industry. 

 

"That experience now underpins the next chapter for Plastic Energy. Our priority now is operational excellence at our existing plants in Spain whilst deepening our value-chain partnerships, and advancing the technology that will help close the loop on the global plastic value chain," said Carlos Monreal, Chief Executive Officer at Plastic Energy.

 

The company said the TEPEAR experience provides a foundation for its next phase of growth, with the focus shifting toward improving performance at existing facilities, strengthening partnerships across the plastics value chain and further developing its chemical recycling technology.

 

Plastic Energy’s patented TAC process converts end-of-life plastic waste into TACOIL, a feedstock designed to produce virgin-quality recycled plastics. The company currently operates two chemical recycling plants in Spain and says it is among the few companies globally to have sold recycled oils produced from end-of-life plastic waste for use in new plastic manufacturing.