Technip Energies N.V. (TE.PA, THNPF, THNPY), a French engineering and technology company, on Wednesday announced that it has secured two engineering services contracts from a Spanish energy and petrochemical company, Repsol, S.A. (REP.MC, REPYY, REPYF) for the Ecoplanta Molecular Recycling Solutions project in El Morell, Spain.
The contract value is not disclosed.
The company said that the facility will convert up to 400,000 tons of residual municipal solid waste and biomass annually into about 240,000 tons of renewable methanol.
The project aims to cut CO2 emissions by 3.4 million tons over its first 10 years and support Europe's circular economy and decarbonization goals.
The company will deliver engineering and procurement services under two contracts, covering the Enerkem Core Process developed with Enerkem and the Balance of Plant to integrate all project units.
The company will also oversee the implementation of Enerkem's gasification technology, which converts non-recyclable waste into renewable fuels and chemicals.
The project is co-funded by the European Union's Innovation Fund.
On Tuesday, Technip Energies closed trading 1.67% lesser at EUR 40.08 on the Paris Stock Exchange.
On Tuesday, Repsol closed trading 2.30% lesser at EUR 15.06 on the Madrid Stock Exchange.
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