M&G, Letterone and Axens led a €145m funding round in Plastic Energy.

M&G, a savings and investments business, Letterone, an investment company which focuses on the telecoms, technology and energy sectors, and Axens, a group that provides a complete range of solutions for the conversion of oil and biomass to cleaner fuels, led a €145m funding round in Plastic Energy, a chemical recycling company, offering a sustainable solution to help prevent plastic pollution, transforming previously unrecyclable plastic waste into a valuable resource. “We are glad to announce our investment and strategic partnership with Plastic Energy. Achieving a true circular economy of recycled polymers, including for food contact and health care grade, is a largely shared objective. And, leveraging Plastic Energy and Axens complementary operational and technological skills, we can now offer a combination of proven technologies to make it possible,” Stéphane Fedou, Axens Plastic Circular Economy Director.