In response to the climate crisis that’s currently gripping the earth, Clean Planet Energy (CPE) and Andera Partners have announced a collaborative project which will see the development of three new ecoPlants in France. These ecoPlants are capable of using cutting-edge technologies to turn non-recyclable waste plastics into ultra-clean fuels that can be used to power sustainable transport. As well as clean fuels, ecoPlants will be capable of producing green naphtha, which is essential to creating circular, recyclable plastics.
This is a big step not just for the European Union, but for France. PlasticEurope figures suggest that in 2018, the recycling rate for plastics in France was 24.2%, well below the European average of 32.5%. With the introduction of new laws which also mean that France is now aiming for a 100% circular economy for plastics by 2025, the nation has a long way to go in a short span of time. The hope is that CPE’s three new ecoPlants will help to get them there in a way that both promotes circular plastics while simultaneously reducing CO2 emissions.
Anderas Partners is an investment firm whose team manages over €2.8 billion in investments across France and overseas. This investment into Clean Planet Energy is the first time the firm has invested in clean fuel. Prune des Roches, a partner at Andera’s Smart Infra Fund, commented that “Supporting Clean Planet Energy’s deployment in France contributes to solving both mobility and plastic environmental issues.”
The CEO of Clean Planet Energy, Bertie Stephens, also commented on the announcement, saying “Our partnership with Andera Partners supports our vision for clean oceans and clean air. Collaborating with a like-minded group such as Andera Partners enables Clean Planet to enhance the delivery of our mission of removing over one million tonnes of non-recyclable plastic waste from our environment every year.”
These are not the first plants to be built by Clean Planet Energy, which are already constructing several ecoPlants in the UK. Work on France’s ecoPlants has already begun, and the company is aiming to open the first Clean Planet Energy ecoPlant in France in 2023.