UK chemical recycler Plastic Energy founder returns as CEO after administration

UK-headquartered chemical recycler Plastic Energy confirmed a new ownership structure and the return of founder Carlos Monreal as CEO, following the completion of its administration process, according to an Aug. 6 statement shared with Platts.

Plastic Energy entered administration in May and did not disclose details of the new ownership structure in the statement.

The company said the transition marks the start of a new phase focused on operational efficiency, disciplined growth, profitability and value creation for customers, partners and shareholders.

Plastic Energy said it plans to continue to advance its technology, improve efficiency at existing industrial sites, expand partnerships and support the global deployment of chemical recycling.

Monreal, who has more than two decades of experience in chemical recycling, described his appointment as a personal commitment and a "vote of confidence" in the company, adding that demand for solutions for hard-to-recycle plastics remains strong, according to the statement.

Plastic Energy cited volatile virgin polymer economics and regulatory uncertainty as key challenges for chemical recycling, calling for clearer and more stable regulations, particularly in Europe, to support long-term investment in circular plastics infrastructure.

Platts, part of S&P Global, assessed process-ready mixed plastic waste bales, which are the feedstock for chemical recycling, at €265/mt DDP Northwest Europe on Aug. 5, stable day over day.