TotalEnergies and Honeywell Sign an Agreement on Advanced Plastic Recycling

Paris and Houston  – Honeywell (NASDAQ: HON) and TotalEnergies today announced a strategic agreement to promote the development of advanced plastic recycling. Under this agreement, Honeywell will agree to supply TotalEnergies with recycled polymer feedstock (RPF) using Honeywell’s UpCycle Process Technology at the recently announced Honeywell and Sacyr advanced recycling plant, intended to be built in Andalucía, Spain. TotalEnergies will purchase and convert this raw material into virgin-quality polymers, which could be used for food-grade packaging and other high demanding applications.

The UpCycle plant, which will be owned by a joint venture between Honeywell and Sacyr, is planned to process and convert yearly 30,000 tons of mixed plastic waste into RFP, that may otherwise be destined for landfill or incineration. The projected startup of the UpCycle plant is expected in 2023, with RPF to be used for the manufacturing of high-quality polymers in TotalEnergies’ European-based production units. With identical properties to virgin polymers, the recycled polymers are expected to be suitable for a wide range of applications including food-grade applications, such as flexible and rigid food packaging containers.

This first planned project represents the start of the collaboration between Honeywell and TotalEnergies in the field of advanced recycling. Both parties are committed to addressing the issue of plastic waste and helping to build a more circular and sustainable economy in Europe, and the rest of the world.

“Plastics demand will continue to grow, so it’s critical to create a linkage between waste management and plastics production to strengthen a circular flow of plastics,” said Ben Owens, vice president and general manager, Honeywell Sustainable Technology Solutions. “The relationship with TotalEnergies will provide a strong recycled polymer feedstock offtake partner and coupled with our recently announced advanced recycling plant with Sacyr, Honeywell is leading the drive toward a more circular plastics economy.”

"We are pleased to partner with Honeywell to tackle the issue of plastic waste through the development of advanced plastic recycling, and thereby the circular economy, one of the pillars of sustainable development. This project, with a 2023 targeted startup, will contribute to meet our ambition of producing 30% recycled and renewable polymers by 2030 “said Valérie Goff, Senior Vice President, Polymers at TotalEnergies.