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Shell PLC - London-based oil major - Plastic waste recycling firm Corsair Bangkok Co Ltd, part of Corsair Group, signs deal to supply Shell Singapore Pte Ltd with pyrolysis oil, a mixed plastic waste feedstock, from its recycling facility in Thailand. Oil will be delivered to the Shell Energy & Chemicals Park Singapore on Pulau Bukom, a restricted-access island south of mainland Singapore. Corsair says it will then be used to manufacture "sustainable circular chemicals" which are "typically used" in textiles, food packaging and other everyday products.
Phil Turley, Shell's general manager of Global Plastic Circular Economy, says: "At Shell, we believe chemical recycling offers a valuable and viable way to complement mechanical recycling measures, and is needed to achieve the higher recycling rates that are a must for the reduction of waste plastic into the environment. It is not just a partnership for innovation, but a commitment to a sustainable and circular future."
Corsair is a consortium of companies working on business solutions to plastic waste, air and water pollution, and climate change. It is based in Bangkok and also has an office in Amsterdam.
Current stock price: 2,498.00 pence, up 0.4% on Monday
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By Emma Curzon, Alliance News reporter
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