TotalEnergies SE (NYSE:TTE) shares are up during Thursday’s premarket session as it starts production at France’s first advanced plastics recycling plant.

This initiative marks a significant step in converting the Grandpuits refinery into a zero-crude platform.

Launches 15,000-Ton Recycling Plant

The new plant, located southeast of Paris, has an annual capacity of 15,000 tons. It utilizes innovative recycling technology to convert hard-to-recycle plastic waste into synthetic oil.

This synthetic oil will serve as a petrochemical feedstock, allowing the production of recycled plastics that meet stringent quality requirements for food contact and medical applications.

Notably, TotalEnergies has partnered with Citeo and Paprec in 2023 to ensure a steady supply of plastic waste for the plant, which is part of a broader strategy to reduce environmental impact.

Valérie Goff, Senior Vice President, Renewables, Fuels & Chemicals at TotalEnergies added, “The start-up of the first advanced plastics recycling plant in France is an important milestone in the conversion of our Grandpuits site into a zero-crude complex. Alongside Plastic Energy, ...