August 7, 2026 09:57

Plastic Energy, the UK company that developed the TAC chemical recycling technology, has announced a new ownership structure and the return of founder Carlos Monreal as CEO, marking its emergence from administration.

“This is the beginning of an exciting new chapter for Plastic Energy,” Monreal said. “Our focus will be on operational excellence, disciplined growth, profitability and creating long-term value for 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 administration process formally began on 27 April and involved two UK companies, Plastic Energy Finco Ltd and Plastic Energy Limited, with two administrators appointed.  Plastic Energy S.L.U., which operates the two chemical recycling plants in Spain, was not involved in the proceedings.

“We will continue to develop our technology, improve the efficiency of our existing industrial operations, expand strategic partnerships and accelerate the deployment of chemical recycling globally,” the company’s CEO continued. “Regulation must now keep pace with the commitment shown by the private sector, creating a supportive environment for companies seeking to scale up circular solutions and help meet circularity targets such as those set out in the EU Packaging and Packaging Waste Regulation, PPWR.”

Plastic Energy has developed TAC, or Thermal Anaerobic Conversion, a technology based on the thermochemical conversion of mixed plastic waste, such as flexible packaging that is difficult to recycle mechanically, in the absence of oxygen. The process produces hydrocarbon vapours, which are subsequently condensed into a pyrolysis oil called Tacoil, which can be used to replace fossil feedstocks in the production of new plastics.

The process has already been implemented at two plants operated by Plastic Energy in Spain: one in Almería, which the company says has been operating since 2016, and another in Seville, in operation since 2017. The two sites operate continuously and, according to Plastic Energy, have processed more than 40,000 tonnes of plastic waste in total.

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