After the company entered into administration earlier this year, Plastic Energy founder Carlos Monreal is returning as CEO as part of a new ownership structure.
Back in May, Plastic Energy’s London-based operations entered administration due to cash flow challenges. This did not include the Spanish company, Plastic Energy S.L.U, or its pyrolysis plants in Seville and Almeria.
Geoff Rowley, joint administrator and partner at FRP Advisory, commented: “Plastic Energy has developed market-leading recycling processes since inception, but has suffered from a European market downturn and accordingly has been unable to evidence sustainable operations.
“Our goal is to sell the group’s primary assets, including the IP and patents held, the shares in group entities (including Plastic Energy S.L.U. holding the recycling plants) and the joint venture interests, to maximize returns for creditors.”
Despite regulatory uncertainty and ‘volatile’ virgin polymer prices creating investment challenges, Plastic Energy views Monreal’s return as a ‘decisive moment for the industry’ as its proprietary technology matures.
Its patented TAC process involves heating plastics in the absence of oxygen to form hydrocarbon vapours, which are then condensed into TACOIL, a recycled oil sold to petrochemical partners.
Claiming that its industrial capacity has been proven and market demand continues to grow, Plastic Energy plans to keep its TAC technology at the core of the business. Operations and development will continue across Europe, including its research labs at Loughborough University.
Now the company calls upon policymakers to ‘match the commitment made by the private sector by providing clear, stable and investment-friendly regulation in support and recognition of companies who have invested early to close the loop on the circular economy of plastics.’
“This is the start of an exciting new chapter for Plastic Energy, with our focus being on operational excellence, disciplined growth, profitability and delivering long-term value to customers, partners and shareholders,” said Monreal. “Returning as CEO of the company I founded is both a personal commitment and a vote of confidence in what we have built.
“The demand for a solution to the issue of hard-to-recycle plastics is greater now than ever. Since 2016 as an industry leader, Plastic Energy has demonstrated that TAC technology is capable of effectively managing this waste stream at scale.
“We will continue advancing our technology, increasing efficiency of our existing industrial operations, expanding strategic partnerships and accelerating the deployment of chemical recycling globally.
“Regulation must now keep pace with the commitment made by the private sector, creating a favourable environment for those seeking to scale circular solutions and support circular ambitions such as those laid out in the EU’s Packaging and Packaging Waste Regulation (PPWR).”
In previous news, Plastic Energy commercialized ‘char’, a byproduct of its chemical recycling process, in October 2025. It intends to serve as a circular, lower-carbon alternative to carbon black, reportedly reducing carbon emissions by 89%.
Since then, DOMO Group subsidiaries such as DOMO Chemicals have filed for insolvency due to high energy prices, low demand, and continual imports from non-EU countries. While DOMO Group’s management team started a restructuring process in 2024, talks over further short-term financing eventually broke down.
Klöckner Pentaplast also filed for Chapter 11 bankruptcy in the United States back in November 2025 – an outcome attributed to increased demand during the COVID-19 pandemic, spiking costs for raw material and energy, and compressed profit margins – but completed its financial restructuring in February. The company claims to have eliminated around €1.3 billion of funded debt.
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