Total Energies, the French petrochemicals and energy company, has announced the acquisition of the Spanish plastics recycler Iber Resinas. According to the 9 May announcement, Iber Resinas operates two mechanical recycling plants near Valencia, Spain, where it processes primarily polypropylene, polyethylene and polystyrene derived from household and industrial waste. Iber Resinas puts the total capacity of the plants at 50,000 tonnes per year. The recycler also boasts a large network of direct customers to whom it sells its products for the manufacture of automotive parts, packaging, or building materials. The purchase price was not disclosed.
Total described the takeover of Iber Resinas as part of its ambition to increase the share of circular polymers in its plastics production to 30 per cent by 2030. With this transaction, Total Energies will increase its production of circular polymers in Europe, extend its range of recycled products, and enhance its access to feedstock through Iber Resinas's network of suppliers. The acquisition would enable Iber Resinas to accelerate its growth and to leverage synergies with Total's operations to develop quality products.
Santiago Sanz and Borja Sanz, owners and managing directors of Iber Resinas, said, "Joining Total Energies 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."
In recent years, Total Energies has been expanding its plastics recycling operations. In 2020, it announced it would build an "advanced" recycling plant at its Grandpuits "zero-crude" platform southeast of Paris together with Plastic Energy. Paprec became involved in this project in March of this year; the French waste management company will sort packaging waste to produce the input stream for the pyrolysis facility. Total has also signed a series of pyrolysis oilofftake agreements, most notably with Plastic Energy and Honeywell.
Total Energies is also already active in mechanical recycling through its subsidiary Synova, which it acquired in 2019. Synova produces recycled polypropylene for applications in the automotive and construction industry.