Plastic Energy: Founder Carlos Monreal Returns as CEO Following Insolvency

Chemical plastics recycling specialist Plastic Energy has a new ownership structure following the completion of insolvency proceedings. At the same time, company founder Carlos Monreal is returning to the role of CEO. The company did not disclose details of the new owners or the financial terms of the restructuring.

Plastic Energy and its financing company Plastic Energy Finco were placed into administration under UK law at the end of April 2026. It became known in May that investors were being sought.

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Monreal founded Plastic Energy in 2012 and moved from the CEO position to the role of Chairman in March 2024. With the restructuring now completed, he is returning to operational leadership. According to Plastic Energy, the company intends to focus in particular on operational efficiency, profitable growth and financially disciplined expansion going forward.

The company’s proprietary “TAC” chemical recycling process remains at the core of its business. In the process, plastic waste is thermally treated in the absence of oxygen and converted into hydrocarbon vapours. After condensation, a recycled oil is produced that can be used as a feedstock for manufacturing new plastics. Plastic Energy says the technology has so far processed more than 40,000 t of difficult-to-recycle plastic waste. According to the company, the technology has been in use on an industrial scale for more than ten years.

Existing activities in Europe as well as research and development work at Loughborough University in the UK are to continue. Plastic Energy operates, among other facilities, two chemical recycling plants in Spain and works with petrochemical companies on the industrial implementation of its technology. In March 2026, for example, a TotalEnergies recycling plant equipped with “TAC” technology began operations at the Grandpuits site in France.

Plastic Energy cites fluctuating economic conditions for virgin materials and regulatory uncertainty among the factors weighing on chemical recycling. In Europe in particular, reliable long-term regulatory conditions are needed to provide investment certainty for plants and technologies supporting a circular economy for plastics.

More information: plasticenergy.com

Plastic Energy, London, Großbritannien

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