UK company Plastic Energy and oil and chemicals giant ExxonMobil have announced plans to work together on a chemical recycling facility in France.
With an initial capacity of 25,000 tonnes per year, and ambitions to scale up to 33,000 tonnes per year, it will be one of the largest chemical recycling plants in Europe.
Under the terms of the agreement, Plastic Energy will build, operate and own the facility adjacent to ExxonMobil’s Notre Dame de Gravenchom petrochemical complex in France.
It will convert difficult to recycle plastic waste into raw materials that can be transformed into certified circular polymers and other high value products at ExxonMobil’s petrochemical complex.
Plastic Energy founder and chief executive Carlos Monreal said: “This project with ExxonMobil is another important step towards a more circular economy for plastics. Plastic Energy’s aim is to continue to build recycling infrastructure in France, and globally, to increase recyclability of plastics.”
ExxonMobil Chemical Company president Karen McKee added: “Our plans with Plastic Energy demonstrate how industry, government and consumers can work together to build a more circular system to capture value from post-use plastic.
“We’re well positioned to add value through our expertise in plastic manufacturing and high-performance products to help advance projects like this, which deliver sustainable solutions at scale.”
A final investment decision is expected to take place in the middle of this year, with startup of the facility due to take place in 2023.