“This project with ExxonMobil is another important step towards a more circular economy for plastics,” said Carlos Monreal, Founder and CEO of Plastic Energy. “The objective of Plastic Energy is to continue to build recycling infrastructures in France, and in the world, to increase the recyclability of plastics.”
Plastic Energy is a global leader in advanced recycling, specializing in the recycling of end-of-life plastics that would otherwise go to landfill, incineration or end up in the environment. The company’s innovative and patented technology turns plastic waste into raw materials that can be used to create virgin quality polymers.
“Our projects with Plastic Energy demonstrate how industry, government and consumers can work together to build a more circular system to capture the value of post-consumer plastic,” said Karen McKee, president of ExxonMobil Chemical Company. “We are well positioned to add value through our expertise in manufacturing plastics and high performance products to help advance projects like this, which provide sustainable solutions at scale.”
Plastic Energy and ExxonMobil have been developing plans since 2018. A final investment decision is expected mid-2021 with a start expected in 2023.
Under the terms of agreements with ExxonMobil subsidiaries, Plastic Energy will build, own and operate an advanced recycling plant adjacent to ExxonMobil’s Notre Dame de Gravenchon petrochemical complex in France. The plant will convert difficult-to-recycle mixed plastic waste into raw materials that can be transformed into certified circular polymers and other high-value products at the ExxonMobil petrochemical complex.
The construction of this new advanced recycling plant will support the circular economy in Europe and add to Plastic Energy’s growing portfolio of recycling units.
This project has received financial support from the French government as part of its Recovery Plan and its Regional Planning Grants Program.