Andera Partners and Clean Planet Energy (CPE) have announced a joint partnership. With a focus on the development of multiple-waste plastics, this unique venture aims to transform existing facilities in France into three green ecoPlants, benefitting the planet and positively impacting the current global plastic and climate crisis.
While acknowledging the current global situation, Clean Planet Energy’s ecoPlants concept offers a unique solution to capture non-recyclables for conversion into clean fuels and other green commodities. This falls in line with French economy laws, aiming to achieve a 100% circular plastics economy for 2025.
In 2019, PlasticEurope reported a 32.5% recycling rate across the EU. France falls behind this target, with a 24.2% recycling rate in contrast to its circular economy plans and goals.
Andera Partners, a well-known and established player within French and international private equity investments, has chosen to support Clean Planet Energy in achieving its goals. With more than €2.8 billion across a range of growth, buyout and life cycle investments, the company is making a move into energy, with CPE marking the first foray into clean fuel by the large-scale brand.
Prune des Roches, a partner within Andera, said, “supporting Clean Planet Energy’s deployment in France contributes to solving both mobility and plastic environmental issues.”
Clean Planet Energy is already involved in the construction of several ecoPlants across the UK. With this latest announcement, they extend their reach into the European mainland for the first time.
Bertie Stephens, Clean Planet Energy’s CEO, had this to say about the partnership: “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,”
“In France, we will be developing ecoPlants that each convert over 20,000 tonnes of plastic a year into ultra-clean circular fuels. Each barrel of fuel will prevent around 400 kg of CO2e emissions from entering our atmosphere. Compared to fossil fuels, that’s over a 75% reduction. Together, these ultra-clean circular fuels will be used in industries within the marine, aviation, petrochemical and refining sectors, where green alternatives (such as electricity) simply do not exist. It’s an immediate solution to the climate catastrophe, powered by removing waste plastics from the land.”
Alongside clean fuel production, ecoPlants are also designed to create a substance known as green naphtha – a feedstock utilised to develop the aforementioned circular economy required to make plastics truly sustainable.
Work on the ecoPlants is already on track, with plans to launch the initial ecoPlant structure midway through 2023. For more information on the progress and development of this partnership, you can visit http://CleanPlanet.eu and https://www.anderapartners.com/.