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Eni's Versalis & Prysmian to Start Chemical Recycling of Plastic Scrap
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Key Takeaways
Prysmian will collect plastic waste from manufacturing and end-of-life cables for chemical recycling.
Versalis will recycle scrap at its Mantua plant to turn plastics into a pyrolysis oil for new polymers.
Prysmian estimates about 60% of XLPE can be reused, with a pilot project starting in Italy in H2 2026.
Eni S.p.A.’s (E - Free Report) chemical unit, Versalis, and Prysmian S.p.A., a leading provider of energy solutions and telecommunications systems in Italy, have joined forcesto create a circular economy for plastic cable scrap, aiming to reduce and recycle plastic waste. Under the agreement, Prysmian will gather plastic waste from its manufacturing processes, as well as from decommissioned and end-of-life cables sourced from its major customers, and convert them into new plastic polymers using a chemical recycling process.
The plastic scrap collected by Prysmian will be sent to Versalis’ Mantua plant in Italy, where it will be recycled using the proprietary Hoop® technology. This technology first converts the plastic scrap into a pyrolysis oil, which is then used as feedstock for new plastic polymers.
Energy cables are generally insulated using cross-linked polyethylene (XLPE) and additional layers of polymers to improve durability and resistance. However, this makes it difficult to recycle using mechanical methods, as it degrades the plastic quality. The Hoop® technology, which is a chemical recycling procedure, enables the scrap to be repurposed without any loss of quality or performance. Prysmian estimates that this technology will allow approximately 60% of XLPE to be recycled and reused. The newly produced plastic polymers will be utilized to produce new industrial cables. This innovative technology enables industrial cables with cross-linked polymeric layers to be recycled using a chemical process, at scale for the very first time.
Prysmian stated that this project recycles old plastic waste into new, reusable materials, underscoring its commitment to finding sustainable solutions for its business and reducing its environmental impact. The company added that the pilot project is anticipated to start in the second half of 2026 in Italy. Versalis emphasized how the company’s advanced R&D and technologies can be used to offer sustainable solutions for complex products that have reached the end of their useful life. The joint initiative by the two companies will enhance the sustainability of the industrial sector and promote a circular economy.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.
Subsea7 helps build underwater oil and gas fields. It is a leading player in the global offshore energy industry, providing engineering, construction and related services at offshore oil and gas fields. The long-term outlook for energy demand remains positive, and Subsea7’s focus on cost-efficient deepwater projects strengthens the position of its subsea business.
FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
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Eni's Versalis & Prysmian to Start Chemical Recycling of Plastic Scrap
Key Takeaways
Eni S.p.A.’s (E - Free Report) chemical unit, Versalis, and Prysmian S.p.A., a leading provider of energy solutions and telecommunications systems in Italy, have joined forcesto create a circular economy for plastic cable scrap, aiming to reduce and recycle plastic waste. Under the agreement, Prysmian will gather plastic waste from its manufacturing processes, as well as from decommissioned and end-of-life cables sourced from its major customers, and convert them into new plastic polymers using a chemical recycling process.
The plastic scrap collected by Prysmian will be sent to Versalis’ Mantua plant in Italy, where it will be recycled using the proprietary Hoop® technology. This technology first converts the plastic scrap into a pyrolysis oil, which is then used as feedstock for new plastic polymers.
Energy cables are generally insulated using cross-linked polyethylene (XLPE) and additional layers of polymers to improve durability and resistance. However, this makes it difficult to recycle using mechanical methods, as it degrades the plastic quality. The Hoop® technology, which is a chemical recycling procedure, enables the scrap to be repurposed without any loss of quality or performance. Prysmian estimates that this technology will allow approximately 60% of XLPE to be recycled and reused. The newly produced plastic polymers will be utilized to produce new industrial cables. This innovative technology enables industrial cables with cross-linked polymeric layers to be recycled using a chemical process, at scale for the very first time.
Prysmian stated that this project recycles old plastic waste into new, reusable materials, underscoring its commitment to finding sustainable solutions for its business and reducing its environmental impact. The company added that the pilot project is anticipated to start in the second half of 2026 in Italy. Versalis emphasized how the company’s advanced R&D and technologies can be used to offer sustainable solutions for complex products that have reached the end of their useful life. The joint initiative by the two companies will enhance the sustainability of the industrial sector and promote a circular economy.
E’s Zacks Rank and Key Picks
E currently carries a Zacks Rank #3 (Hold).
Some top-ranked stocks from the energysector are Oceaneering International (OII - Free Report) , Subsea7 S.A. (SUBCY - Free Report) and FuelCell Energy (FCEL - Free Report) . While Oceaneering currently sports a Zacks Rank #1 (Strong Buy), Subsea7 and FuelCell carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.
Subsea7 helps build underwater oil and gas fields. It is a leading player in the global offshore energy industry, providing engineering, construction and related services at offshore oil and gas fields. The long-term outlook for energy demand remains positive, and Subsea7’s focus on cost-efficient deepwater projects strengthens the position of its subsea business.
FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.