Plastic Energy

History

2021: Attraction €145 million

In early November 2021, Plastic Energy, which calls itself one of the leaders in the field of chemical processing, completed attracting investments of €145 million from three separate investors: Axens, M&G and LetterOne (an investment group controlled by Russian billionaire Mikhail Friedman). Morgan Stanley acted as financial advisor in the deal.

By November 2021, Plastic Energy has two existing chemical plastic processing plants located in Spain, and several plants in France and the Netherlands are under construction on November 9, 2021. The company uses its unique proprietary thermal anaerobic conversion technology to process expired plastics that would otherwise be sent to landfill, incineration, or environment. Processed oils, called TACOIL, obtained as a result of the process from Plastic Energy, are used in the creation of food packaging of primary quality, which contributes to the development of a circular economy.

LetterOne Mikhail Friedman invested in a company engaged in innovative plastic processing

Plastic Energy has entered into agreements with key players in the chemical sector, such as SABIC, TotalEnergies and ExxonMobil, and recycled plastic resulting from its process is already used in packaging and products of brands such as Unilever and Tupperware. The funds raised will be used for the growth of the company, both the expansion of its technologies and the global portfolio of processing plants.

Among new investors and LetterOne, an entrepreneurial UK firm investing through its L1 New Energy division in the energy transition. Axens, a global supplier of technology, products, services and equipment for cleaner, renewable, gas, fuel and chemical products. In addition to Axens' direct investment in Plastic Energy, the companies also agreed to a strategic collaboration for global marketing and licensing of Plastic Energy's chemical processing technology. Global investment management company M&G also joined Plastic Energy as an investor.^[1]

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