Total Energy acquires plastic recycling business

Recently, French energy giant Total Energy announced the acquisition of a Spanish plastic recycling company called Ibert Reginas.

Total, a chemicals maker, aims to increase the percentage of recycled plastic in its plastic products to 30 percent by 2030 and strengthen partnerships with other companies.

Ibert Reginas' two factories in Valencia, Spain, specialize in the production of polypropylene and polyethylene from recycled industrial waste, which it then supplies to auto parts and construction materials companies. Beyond the technical aspects, Total Energy will also use its customer network to expand its sales channels for recycled plastics into Europe.

Total Energy said that plastic waste has become an important issue in the context of the focus on the circular economy. In the field of recycled plastics, Synova, a subsidiary of France's Total Energy, has established a recycled polypropylene production line with an annual capacity of 45,000 tons. In addition, a new production line with an annual capacity of 15,000 tons will also be put into operation. In the area of bioplastics, Total Energy is teaming up with Dutch chemicals maker Corbion in a joint venture in Thailand.

Total Energy plans to increase production of recycled and bioplastics from 60,000 tonnes in 2021 to 1 million tonnes in 2030. To achieve this goal, Total will continue to expand capacity through mergers, acquisitions and partnerships.