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Corsair Signs Strategic Partnership with Kera Energy for Global Distribution of Pyrolysis Oil

Corsair Signs Strategic Partnership with Kera Energy for Global Distribution of Pyrolysis Oil

New partnership expands global access to Corsair's recycled plastic oil across Europe, Asia, and the Americas.
AMSTERDAM, NETHERLANDS / ACCESS Newswire Plastic waste recycling company Corsair Group International Holding BV (CORSAIR) is proud to announce a new strategic partnership with KERA Energy AG, a Swiss-based leader in sustainable industrial value chains. Under the agreement, CORSAIR will supply advanced pyrolysis oil to KERA Energy, which will distribute the Plastic Pyrolysis Oil (PPO) across key markets in Europe, Asia, and the Americas.
This collaboration marks another important step in CORSAIR's mission to scale up sustainable advanced recycling of plastic waste. The agreement with KERA Energy signals growing international demand for CORSAIR's high-quality pyrolysis oil derived from everyday household plastic waste.
'We are very pleased to partner with KERA Energy, a company that shares our vision of a cleaner, circular economy,' said Jussi Veikko Saloranta, CEO of CORSAIR. 'KERA's extensive expertise and market access will allow us to accelerate our environmental impact and expand our reach globally.'
Founded in 1999 and headquartered in Zug, Switzerland, KERA Energy AG specializes in the optimization of supply chains and the commercialization of sustainable raw materials such as plastic pyrolysis oil (PPO) and tire pyrolysis oil (TPO). With a processing capacity of up to 300,000 tons per year and compliance with ISCC+ and REACH regulations, KERA is at the forefront of enabling circular and bio-based feedstock solutions for the chemical and refining industries.
'We are proud to partner with CORSAIR as we jointly work to eliminate plastic waste from our environment,' said Shane Perl, CEO of KERA Energy.
By utilizing CORSAIR's pyrolysis oil, produced from mixed plastic household waste at facilities in Thailand, Finland and its future facilities, KERA will support the production of new, sustainable plastics and chemicals, reducing dependency on fossil-based virgin feedstocks, diverting plastic waste destined for landfill or incineration and contributing to a closed-loop system for plastic materials.
'We work with pyrolysis companies from concept to technical development and on to commercially optimizing their circular and bio-based oil products.'
Simon Housecraft, Head of Sustainable Materials at KERA, states: 'We are committed to building a bridge between environmental goals and industrial performance, and this partnership with CORSAIR embodies that commitment. We believe CORSAIR will remain one of the global leaders within this market sector with ambitious but, realistic expansion plans. As a partnership, we believe we can successfully deliver circularity to our market sector'
With this new alliance, CORSAIR strengthens its role as the fastest growing company in advanced plastic recycling and takes another key step toward a world where waste is transformed into valuable resources for the future.
For more information, please visit
www.corsairgroup.com
Contact Info
mail: info@corsairnow.com
phone: +66 957 613 702
SOURCE: Corsair group
View the original press release on ACCESS Newswire
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Dubai's booming restaurant scene is feeling the heat of high costs and high failure rates
Dubai's booming restaurant scene is feeling the heat of high costs and high failure rates

San Francisco Chronicle​

time27 minutes ago

  • San Francisco Chronicle​

Dubai's booming restaurant scene is feeling the heat of high costs and high failure rates

DUBAI, United Arab Emirates (AP) — From suspended tables to underwater lounges, some 13,000 food and drink establishments in Dubai pull out all the stops to attract customers in one of the world's most saturated dining markets. They cater to all tastes and budgets. Some spots ladle out inexpensive biryani while others offer dishes dusted with edible gold. These are some of the ways the emirate is competing with its neighbors Saudi Arabia and Qatar for tourist dollars and, so far, it's beating them handily. Dubai has more restaurants per capita than any major city except Paris. But the city-state's booming restaurant scene is testing the limits of its growth-at-all-costs model, raising questions about how long Dubai can keep feeding its own ambitions. A crowded and competitive market The competition is cutthroat, so presentation is key. 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Dubai is 'on the right path' to becoming the world's food capital, said Torsten Vildgaard, executive chef at FZN by Björn Frantzén. The restaurant, which runs at more than $540 a head, was one of two in Dubai to nab three Michelin stars in May. 'We're only seeing the tip of the iceberg of what's to come in terms of gastronomy here,' Vildgaard added. With each new set of illuminated high-rises and hotels, another crop of eateries emerge, vying for patrons. The legions of construction workers powering Dubai's progress also need affordable options. That growth, propped up in part by investor pressure on some of the world's biggest chains to expand in Dubai, has created what some analysts warn is a bubble. 'If you're a publicly traded company like Americana, what are you supposed to do — just stop opening restaurants?' restaurant consultant Allen said, referring to the Gulf-based operator of KFC, Pizza Hut and other big franchises. The frenetic expansion of Dubai's restaurant industry is part of a regional shift that has seen Gulf Arab states pour hundreds of billions of dollars into building out tourist destinations as they move away from hydrocarbons to diversify their economies. Saudi Arabia has a high-stakes, $500 billion project: a straight-line futuristic city called Neom. But, in a Muslim-majority region, the United Arab Emirates has gone to lengths that some consider too much of a compromise, including relaxing restrictions on alcohol that fuel its pubs and nightlife and other social reforms. High costs and failure rates The rapid development comes at a price. Dubai's restaurants have a high failure rate, industry veterans say, though local authorities don't say what the rate of closures is. In the downtown district and other prime areas, annual rents for restaurants can top $100 per square foot. That's on a par with some of the world's most expensive cities. Still, the emirate issued almost 1,200 new restaurant licenses last year, according to Dubai's Department of Economy and Tourism. The department declined to respond to questions. Empty tables during peak hours are common, even in top locations. Part of the problem, managers say, is that traffic congestion is so severe that convincing diners to drive out can be a tall task. 'I sometimes go, 'Do I go into the restaurant right now, because I'm going to get into traffic?''' said Waseem Abdul Hameed, operations manager at Ravi, a Pakistani family-owned eatery famous for its official Adidas shoe line and a 2010 TV feature from Anthony Bourdain. He knows restaurateurs who have had to shut up shop and others who are squeezed by slim margins and increasingly reliant on delivery apps, Hameed said. The demand sends fleets of migrant workers racing through gridlock on motorbikes, with few protections and tight delivery windows. 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