The move comes as TotalEnergies expands its plastics recycling operations and advances the transformation of its Grandpuits site.

  • TotalEnergies is taking full ownership of the Grandpuits facility by acquiring Plastic Energy’s remaining stake.
  • TotalEnergies is targeting 1 million tons of polymers annually from recycled or renewable materials by 2030.
  • The company’s latest move comes as Grandpuits continues its transition into a zero-crude platform focused on plastics recycling, sustainable aviation fuel and renewable energy.

TotalEnergies (TTE) has acquired Plastic Energy’s remaining 35% stake in its Grandpuits advanced plastics recycling plant in France, making the energy major the sole owner of the facility. This comes as TotalEnergies expands its circular plastics business and continues transforming the former refinery site into a zero-crude platform focused on recycling, sustainable aviation fuel and renewable energy.

TotalEnergies Takes Full Control Of Grandpuits Recycling Plant

The Grandpuits plant, which began production in March 2026, has an annual capacity to process 15,000 tons of hard-to-recycle plastic waste. The facility uses a pyrolysis process to convert plastic waste into synthetic oil that can be used as feedstock to produce recycled plastics.

The acquisition gives TotalEnergies full ownership of the plant after previously holding a 65% stake. The company said in a statement on Friday that the facility processes plastic waste from French households, including material collected through yellow recycling bins that is currently sent to landfill or incineration.

Long-Term Waste Supply Secured Through Citeo, Paprec

The Grandpuits project is backed by a supply chain that TotalEnergies began putting in place before the plant started production.

In March 2023, TotalEnergies and French recycling company Paprec signed a long-term agreement to supply plastic waste to the Grandpuits plant. Under the arrangement, Citeo provides flexible plastic waste collected from household packaging, while Paprec prepares and sorts the material for recycling at its facility in Amiens, France.

Citeo is a French eco-organization that works on the end-of-life management of household packaging and paper. Paprec, meanwhile, is one of France’s major recycling companies and handles the sorting and preparation of the plastic waste used in this recycling chain.

The Grandpuits plant focuses on plastic waste that is difficult to recycle through traditional mechanical methods. It uses a process called ‘pyrolysis’, which heats the waste at high temperatures without oxygen to produce a synthetic oil known as TACOIL.

TotalEnergies then uses this oil as a feedstock to make recycled polymers. The company says these polymers have the same quality and properties as virgin plastics and can be used in applications such as food packaging and medical products.

Grandpuit's Broader Transformation

The recycling plant is part of TotalEnergies’ broader conversion of the Grandpuits site into a zero-crude platform. The former refinery site is being redeveloped around activities including sustainable aviation fuel, plastics recycling and renewable energy.

TotalEnergies said the advanced recycling facility's annual capacity is 15,000 tons, while a separate mechanical recycling unit at the site is designed to produce around 30,000 tons of high-value-added compounds a year, containing up to 50% recycled plastic material.

The company has also set a target of producing 1 million tons of polymers per year from recycled or renewable materials by 2030.

With the latest deal, TotalEnergies now owns 100% of the Grandpuit's advanced plastics recycling plant, after buying Plastic Energy’s remaining 35% stake.

Recent Papua LNG Update

The Grandpuits announcement comes shortly after another major update from TotalEnergies.

On Sept. 7, TotalEnergies said its Papua LNG project in Papua New Guinea had reached several milestones toward a final investment decision.

The company said the EPC tendering process had been completed and that project costs had been brought down to around $14 billion, following nearly $4 billion in savings since 2024.

TotalEnergies also said ExxonMobil will take over operatorship of Papua LNG. After a planned transaction and the Papua New Guinea government's back-in, TotalEnergies expects to hold a 20% stake in the project.

Papua LNG is designed to produce 5.6 million tons of LNG per year. TotalEnergies is expected to have access to 1.5 million tons per year of LNG under a separate offtake agreement.

Retail Sentiment On TTE

On Stocktwits, retail sentiment for TTE remained “Bullish” with “High” message volume over the past 24 hours.

TTE stock has gained more than 38% year-to-date.

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