SPAIN – TotalEnergies, a French multinational integrated energy and petroleum company has acquired Spain-based mechanical recycling of plastics for sustainable applications, Iber Resinas.
TotalEnergies says that the acquisition will increase its production of circular polymers in Europe, provide a wider range of recycled products and improve its access to feedstock through Iber Resinas’s network of suppliers.
The move will also increase TotalEnergies’ ability to develop quality products while having the ability to help the growth of Iber Resinas.
Iber Resinas recycles plastics (polypropylene, polyethylene, and polystyrene) derived from household and industrial waste in its two plants near Valencia, Spain.
The company also has a large network of direct customers to whom it sells its products for the manufacture of automotive parts, packaging, or building materials.
Iber Resinas Owners and managing directors, Santiago Sanz and Borja Sanz said: “Joining TotalEnergies is a great satisfaction, but also an opportunity to strengthen and develop Iber Resinas.
“It will allow us to jointly build on our work, knowledge and development in Spain and the EU in the polymer recycling sector and meet the new challenges and ambitions of our customers.
“We are pleased to welcome Iber Resinas’ teams and combine their recycling know-how with TotalEnergies’ polymers expertise.”
TotalEnergies said that it is committed to a circular economy for plastics and that by reducing the weight of many end-use applications, energy efficiency and a lower carbon footprint can be achieved.
The company added that producing solutions from recycled materials contribute to meeting the challenge of managing their end-of-life.
TotalEnergies senior vice-president polymers, refining and chemicals Nathalie Brunelle added: “This acquisition is a further step towards achieving our ambition of increasing the share of circular polymers in our plastics production to 30% by 2030.
“We are pleased to welcome Iber Resinas’ teams and combine their recycling know-how with TotalEnergies’ polymers expertise.”
TotalEnergies’ polymers experts in Europe, Asia and the United States are working alongside all the professionals in the value chain, including plastic manufacturers, research centers, waste collection and sorting companies, and their customers to accelerate the emergence of a circular economy.
The Company is developing different plastic recycling processes and using renewable raw materials, with the ambition to produce 30% circular polymers by 2030.
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