Q4: 2026-02-12 Earnings Summary

EPS of -$1.85 beats by $0.09

 | Revenue of $19.97M (86.09% Y/Y) beats by $7.91M

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Q4: 2026-02-12 Earnings Summary

EPS of $5.03 misses by $0.12

 | Revenue of $3.19B (9.55% Y/Y) beats by $15.22M

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TCP Circular now hopes to get the scheme on the eastern edge of the port up and running in the next two years

Job creating recycling scheme plans in Sunderland have been revived by a company linked to the original developer.

TCP Circular says it is progressing plans to create a plastics recycling facility at the Port of Sunderland, which could create more than 100 jobs. The firm is co-led by Chris Lach, who is a former deputy CEO and chief commercial officer at Norwegian company Quantafuel, which had secured planning permission in 2023 for the 12-acre site on the eastern edge of the port.

Now an exclusivity agreement between Sunderland City Council and TCP Circular has been signed. TCP now hopes to have the facility up and running in 2028.

It will take waste that would have otherwise been incinerated or disposed of in landfill. Using the high temperature process of pyrolysis, the materials will be heated in the absence of oxygen causing them to break down into raw materials which can be used for manufacturing of new products including high-grade plastics.

The plant is designed to process about 100,000 tonnes a year of “low value plastic waste” including soft food packaging and other domestic and industrial plastics. Raw materials produced will then be shipped from the port to customers in the petrochemical industry and self-generated, non-condensable gas will be used to power the site.

Chris Lach, CEO of TCP Circular, said: “We’re pleased to announce our intention to develop a plastics recycling plant at the Port of Sunderland and look forward to bringing our plans to life in the months ahead. Facilities such as this are greatly needed across the UK as we move towards a more circular economy and reduce CO2 _emissions.

“We believe it’s an excellent site and are excited to be working with Sunderland City Council, playing a small part in their ambitious plans to transform the city into a key hub for businesses in the sustainable technologies and green industries. We look forward to updating the community as our plans develop.”

Quantafuel had hoped to open the Sunderland site last year but in early 2024 it was acquired by UK energy-from-waste group Viridor for more than £100m.

Coun Michael Mordey, leader of Sunderland City Council and chair of the Port Board, said: “The green economy accounts for a significant share of economic output here in Sunderland, so it is fantastic news that TCP has chosen Port of Sunderland to house this leading-edge facility. The port is already home to a growing cluster of businesses operating in the circular economy and, alongside our world leading track record in electric vehicle and battery manufacturing, TCP’s investment would be yet another key milestone in our journey as we embed and grow Sunderland’s reputation as a global hub for sustainable investment.”