TotalEnergies SE (NYSE: TTE) confirmed that it has inked a strategic pact with Honeywell to stimulate the expansion of sophisticated plastic recycling. As per the partnership, Honeywell will provide TotalEnergies with Recycled Polymer Feedstock (RPF) using Honeywell’s UpCycle Process Technology at the Honeywell and Sacyr sophisticated recycling plant, planned to be established in Andalucía, Spain.
The UpCycle factory, which will be managed by a Honeywell-Sacyr joint venture, would process and alter 30,000 tons of mixed plastic trash into RFP each year, which would otherwise be headed for landfill or burning. The UpCycle plant is slated to open in 2023, and RPF will be used to manufacture high-quality polymers in TotalEnergies' European manufacturing facilities.
As per the agreement, TotalEnergies will acquire and change the raw material into virgin-quality polymers, which could be utilized for food-grade packaging and other high demanding applications. Furthermore, this first planned project highlights the beginning of TotalEnergies and Honeywell's collaboration in the field of sophisticated recycling.
Additionally, both parties are dedicated to tackling the problem of plastic waste and assisting in the development of a more circular and stable economy in Europe and around the world. TotalEnergies stated that its collaboration with Honeywell will deal with the issue of plastic waste by developing improved plastic recycling and, as a result, the circular economy, which is one of the pillars of sustainability. This initiative, which is slated to begin in 2023, will help TTE achieve its goal of manufacturing 30% recycled and renewable polymers by 2030.