TotalEnergies takes over Iber Resinas

French oil and gas giant TotalEnergies has acquired Spanish plastics recycling player Iber Resinas, saying the transaction allows it to increase its production of circular polymers in Europe.

TotalEnergies is looking to extend its range of recycled products while enhancing its access to feedstock through Iber Resinas’s network of suppliers. The latter treats polypropylene, polyethylene, and polystyrene collected from household and industrial waste at two plants near Valencia.

The recycler also has a large network of direct customers to whom it sells its products for the manufacture of automotive parts, packaging or building materials.

‘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,’ says Nathalie Brunelle, polymers specialist at TotalEnergies. ‘We are pleased to welcome Iber Resinas’ teams and combine their recycling know-how with our polymers expertise.’

Together, the companies will build on the sustainable work, knowledge, and development in Spain and the EU of the polymer recycling sector, according to Iber Resinas owners Santiago and Borja Sanz. ‘We are ready to tackle new challenges and meet the ambitions of our customers.’

Eco-minded portfolio

TotalEnergies has invested in various recycling projects. Its subsidiary Synova is the French leader in the production of mechanically recycled polypropylene for the automotive and construction industry, with a capacity of 45 000 tonnes at the end of 2022.

The company also recently announced a new hybrid production line of 15 000-tonne high-performance recycled polypropylene for automotive applications at its Carling-Saint-Avold platform in France.

Additionally, TotalEnergies is constructing one of France’s first ‘advanced’ recycling plants at its Grandpuits zero-crude platform near Paris, in partnership with Plastic Energy. In 2022, it signed additional offtake agreements with Plastic Energy and Honeywell for pyrolysis oil to expand activities in both Europe as the US.

TotalEnergies is also running a joint venture with Corbion which operates a plant in Thailand producing 75 000 tonnes per year of polylactic acid, a 100% bio-based and biodegradable plastic.

TotalEnergies is a global multi-energy company that produces and markets oil and biofuels, natural gas, renewables and electricity. It has more than 100 000 employees across nearly 130 countries. It re-branded from Total in 2021.