Plastic Recycling: Total and PureCycle Technologies Form a Strategic Partnership
May 19 2020 - 1:26AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has signed an agreement
with PureCycle Technologies to develop a strategic partnership in
plastic recycling. As part of the agreement, Total undertakes to
purchase part of the output of PureCycle Technologies’ future
facility in the United States and to assess the interest of
developing a new plant together in Europe.
PureCycle Technologies uses an innovative, patented technology
to separate color, odor and any other contaminants from plastic
waste feedstock to transform it into virgin-like recycled
polypropylene. The company, which will begin construction on its
first plant in Ohio (U.S.A.) this year, will produce 48,000 tons of
recycled polypropylene.
“This partnership is an important new milestone for Total as it
strengthens the Group’s position in chemical recycling. This first
partnership in the United States opens new perspectives for
addressing the challenge of the circular economy and achieving our
ambition of producing 30% recycled polymers by 2030”, said
Valérie Goff, Senior Vice President, Polymers at Total.
“Total possesses world-class expertise in the research,
development and production of polypropylene. We believe Total
represents the best possible strategic partner for PureCycle as we
strive to scale this very promising and transformational technology
globally. The introduction of recycled polypropylene that can be
used interchangeably with virgin resin will have an enormously
beneficial impact on the global plastics circular economy. Total
shares our passion to make this happen and we are very pleased to
have them as a strategic partner”, commented Mike Otworth, CEO
of PureCycle Technologies.
Total and Plastics Recycling
Total is deeply committed to recycling plastics and intends to
produce 30% recycled polymers by 2030. To achieve that goal, it is
working on all types of recycling to improve the properties and
uses of recycled plastics:
- Total is a leader in innovative polymers,
pioneering with the production of some fifteen grades of
polypropylene and polyethylene containing at least 50% recycled
materials.
- Total has also become involved in mechanical recycling
by acquiring Synova, French leader in the production of
high-performance recycled polypropylene for the automotive
industry. The affiliate’s output will be doubled to reach 40,000
tons by 2021.
- In the area of chemical recycling, Total has joined
forces with Citeo, Recycling Technologies, Nestlé and Mars in
December 2019 to develop chemical recycling of plastics in
France.
***
About Total Total is a broad-energy company that produces
and markets fuels, natural gas and low-carbon electricity. Our
100,000 employees are committed to better energy that is safer,
more affordable, cleaner and accessible to as many people as
possible. Active in more than 130 countries, our ambition is to
become the responsible energy major
About PureCycle Technologies PureCycle Technologies
offers the only recycled polypropylene with properties equal to
virgin polymer. Our proprietary process, invented by Procter &
Gamble, removes color, odor, and other contaminants from recycled
feedstock resulting in virgin-like polypropylene suitable for any
PP market. PureCycle Technologies licenses technology from Procter
& Gamble. To learn more, visit www.purecycletech.com.
Cautionary note This press release, from which no legal
consequences may be drawn, is for information purposes only. The
entities in which TOTAL S.A. directly or indirectly owns
investments are separate legal entities. TOTAL S.A. has no
liability for their acts or omissions. In this document, the terms
“Total”, “Total Group” and Group are sometimes used for
convenience. Likewise, the words “we”, “us” and “our” may also be
used to refer to subsidiaries in general or to those who work for
them. This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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Total Media Relations: +33 1 47 44 46 99 l
presse@total.com l @TotalPress Investor Relations: +44 (0)207 719
7962 l ir@total.com
PureCycle Technologies Media Relations: (312) 731-0715 I
press@purecycletech.com I @PureCycleTech
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