Plastic Energy today confirmed a new ownership structure and the return of founder Carlos Monreal as Chief Executive Officer, securing the long-term future of the business following a successful administration process.
plastic energy
The transition marks the start of a new chapter for the company, led by Monreal’s entrepreneurial vision, technical expertise and over two decades of industry knowledge.
Plastic Energy's proprietary TAC technology will remain at the core of the business, with operations and development continuing across Europe and at our research labs at Loughborough University in the UK. Proven at industrial scale for over ten years, the advanced recycling technology has already processed over 40,000 tonnes of hard-to-recycle plastics to date, underpinned partnerships with leading petrochemical companies, and achieved industry-leading regulatory certifications.
The wider chemical recycling sector has faced a challenging investment environment, shaped by volatile virgin polymer economics and prolonged regulatory uncertainty. Despite these challenges, Plastic Energy sees this as a decisive moment for the industry in which the core technology has matured, industrial capacity has been proven, and market demand continues to grow.
Policymakers, particularly those in Europe, must now match the commitment made by the private sector by providing clear, stable and investment-friendly regulation in support and recognition of companies who have invested early to close the loop on the circular economy of plastics.
“This is the start of an exciting new chapter for Plastic Energy, with our focus being on operational excellence, disciplined growth, profitability and delivering long-term value to customers, partners and shareholders. Returning as CEO of the company I founded is both a personal commitment and a vote of confidence in what we have built.”
“The demand for a solution to the issue of hard-to-recycle plastics is greater now than ever. Since 2016 as an industry-leader, Plastic Energy has demonstrated that TAC technology is capable of effectively managing this waste stream at scale.”
“We will continue advancing our technology, increasing efficiency of our existing industrial operations, expanding strategic partnerships and accelerating the deployment of chemical recycling globally. Regulation must now keep pace with the commitment made by the private sector, creating a favourable environment for those seeking to scale circular solutions and support circular ambitions such as those laid out in the EU’s Packaging and Packaging Waste Regulation (PPWR).” said Carlos Monreal, Chief Executive Officer at Plastic Energy.