Plastic Energy has transferred its stake in the TotalEnergies Plastic Energy Advanced Recycling (Tepear) plant to TotalEnergies as it restructures its asset base following its exit from administration.
The plant at TotalEnergies’ Grandpuits complex near Paris became operational in March 2026 and can process 15,000 tonnes of plastics waste a year. TotalEnergies has now become the sole owner of the facility.
Tepear will continue operating at industrial scale using Plastic Energy’s TAC technology under a continuing licence and technology agreement.
Plastic Energy will retain ownership and operation of its chemical recycling plants in Almeria and Seville in Spain, as well as its joint venture plant, SABIC Plastic Energy Advanced Recycling (SPEAR), in the Netherlands.
The ownership change follows Plastic Energy’s exit from administration in August and the return of founder Carlos Monreal as chief executive. The company entered administration in May after facing cash flow difficulties and insufficient liquidity.
First restructuring step
Plastic Energy described the transfer as the first concrete step in a restructuring of its asset base.
Monreal said: “Plastic Energy is entering its next chapter with a clear focus on ensuring operational excellence at every plant using our technology, scaling up our existing plants in Spain, deepening our value-chain partnerships, and advancing the technology that will help close the loop on the global plastics value chain.”
Plastic Energy’s TAC chemical recycling technology converts end-of-life plastics waste into a feedstock called Tacoil, which it says is suitable for making virgin-quality recycled plastics.
The company currently has two chemical recycling plants that are in constant operation in Spain. It claims to be one of the few companies worldwide that has sold recycled oils from the conversion of end-of-life plastics waste to replace fossil oils in the manufacturing of new plastics.
