Plastics Energy Announces Final Investment Decision

Plastic Energy has announced plans to build a state-of-the-art recycling plant near Le Havre in northern France will continue
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The company has obtained all required environmental permits for the project in July 2021, ensuring that the plant complies with all European environmental regulations from construction to continuous operation
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Now, construction will officially begin on the new, large-scale chemical recovery facility at a site near ExxonMobil's Notre Dame de Gravenchon petrochemical complex
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Earlier this year, Plastics Energy signed an off-take partnership with ExxonMobil
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Under the agreement, ExxonMobil will use Tacoil, a recycled oil product produced by Plastics Energy, produced at the plant to manufacture virgin-quality certified recycled polymers and other products
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Loic Vivier, Senior Vice President, Performance Derivatives, ExxonMobil Chemical Company, said: "ExxonMobil is investing in projects around the world to help society address the challenges of plastic waste in the environment
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With well-designed policies and increased cross-industry collaboration, The advanced recycling opportunities we are evaluating and executing have the potential to make large-scale, disruptive improvements to the circularity of plastic products
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"

The plant is scheduled to be operational in 2023 with a capacity of 25kT/pa, with plans to expand to 33kT/pa in the near future
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Tacoil is produced through a patented thermal anaerobic conversion process developed by Plastics Energy over the past 10 years
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The process makes it possible to remove previously unrecyclable plastics from being landfilled or incinerated, and to recycle them into feedstocks that can be used in petrochemical plants to produce ethylene and propylene
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The process heats plastic waste in the absence of oxygen until it melts and the polymer molecules break down into hydrocarbon vapors
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Condensable gases are converted to hydrocarbon products, while non-condensable gases are collected separately and combusted to generate process energy
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For every ton of end-of-life plastic waste processed, 850 liters of chemical feedstock Tacoil can be produced
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Plastic Energy founder and CEO Carlos Monreal said: "The company currently operates two chemical recycling plants in Spain, and a large advanced recycling plant is under construction in France
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Through our partnership with ExxonMobil, we are building a solid foundation for the future of plastics.
work towards sustainability
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”

The project has received financial support from the French government as part of its regional planning investment program
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