Corsair MasterClass

Do you really want to understand how it all fits together – the plastic crisis, the technology, the solution, and the future? Then these videos are invaluable.

Jussi explains everything in a way that is crystal clear, easy to follow, and full of insights you won’t get anywhere else. Each episode is short, focused, and so well-made that you’ll want to watch them several times.

Here you get both the background, the big picture, and the details that make everything suddenly click into place. You will understand why the technology works, how it works, and why the timing is so unique right now.

For those of you who prefer to read rather than watch, we have also written out the entire content – in both Swedish and English. It is exactly what he says in the films, just easier to go back to and use when you want to delve deeper.

In short: this is the best way to get a real basic understanding. Whether you are curious, engaged, or want to be part of the solution – start here.

🎥Episode 1: Introduction to Corsair Group
(1:44 minutes)

  • Corsair Group was founded in 2020 and already has over 30 companies and 100+ employees.
  • In the midst of the pandemic, when oil prices crashed, they entered an industry everyone else was fleeing from.
  • Jussi believes that: The bigger the problem – the bigger the opportunity.
  • Corsair develops long-term, sustainable solutions to combat the plastic waste crisis.

Introduction to Corsair Group

So Corsair Group is a company that I founded in the year 2020 together with my four co-founders. Today Corsair as a group includes more than 30 companies around the world and we employ more than 100 people internationally. As a group we are based in the Netherlands with offices in the Netherlands, in Finland, and here in Bangkok, Thailand.

You might remember the year 2020 which was a very strange one with all the global lockdowns and the pandemic and all the madness that was happening around the world. This was also the time when the global price for oil crashed down to the lowest levels in the last three decades. Literally everybody I spoke to was running away from the oil business. That’s when we decided to get in.

I’ve always believed that the larger the problem the larger the opportunity and that’s why we at Corsair are all about developing long-term sustainable and effective solutions to tackle the global plastic waste crisis.

🎥Episode 2: The Scope of the Global Plastic Crisis (3:20 minutes)

  • Global plastic production is approaching 500 million tons per year.
  • The total weight of humanity is 350 million tons → we produce more plastic per year than we ourselves weigh.
  • 95% of all plastic is not recycled. Only 5% is recycled globally.
  • Most of the plastic is burned, buried, or ends up in the oceans.
  • Plastic production is expected to triple within 30 years.
  • The growth of the middle class in Asia, Africa, the Middle East, and Latin America is driving plastic consumption.
  • Without rapid action, the global recycling rate risks falling from 5% to 4% or lower.

Jussi’s main point: Without action, we will literally drown in plastic waste.

The Scope of the Global Plastic Crisis

I’m sure we all know that plastic waste is a major global problem. But exactly how big? Well, let’s break this one down.
First of all, the global production of new plastic has now reached levels of almost 500 million metric tons per year. That doesn’t necessarily say much, but let’s compare it to something. When you, for example, look at the combined weight of every single human being on the planet, which is about 350 million metric tons, now that starts to give you an idea of the scale of the problem.
In other words, you could say that in one year alone, we are globally producing more plastic than the entire weight of the humanity.

What is alarming about this is that today, 95% of all of this plastic that is being produced is not recycled in any way. Only 5% of the plastic garbage that is being produced annually gets recycled at the moment.
This means that 95% of all of this garbage ends up either in the landfills, getting burned, or worst of all, it leaks into our oceans.

To make the matters even worse, it has been projected that the production of plastic is going to triple in the next 30 years.

This is primarily due to the growth of the middle class, especially in regions such as Asia, Africa, Middle East, and Latin America. People with new and additional money to be spent want to have their products and services closer to them.
This means that people will no longer go to the local market to buy their products, their vegetables and fruits in a bamboo basket, for example, but instead will be buying these from the convenience stores and supermarkets where all the products are wrapped in plastic.

This means that the plastic pollution problem that we are encountering around the world today is only going to get worse. We have today only scratched the surface of the problem.
With the current global recycling rate of plastic being as low as 5% only, with the increase in production, this means that if we don’t urgently focus into building a global plastic waste recycling infrastructure, the 5% global recycling rate will soon become 4%, and even lower.

That means that we urgently need to take action to tackle this problem, otherwise we are literally going to be drowned under all this plastic garbage.

🎥Episode 3: Pyrolysis and Corsair’s solution
(3:12 minutes)

  • Corsair takes plastic waste and converts it back into oil, its original form.
  • All plastic is originally made from crude oil — pyrolysis restores the plastic to the same state.
    The pyrolysis oil can be used for fuels (gasoline, diesel, jet fuel) and, more importantly, new plastic.
  • The process is extremely efficient: 1,000 kg of plastic → 900 liters of pyrolysis oil.
  • Pyrolysis breaks down plastic at the molecular level and rebuilds it as pure liquid.
  • Corsair has ISCC certification, the highest standard in sustainability certification.
  • The company has full environmental and operating permits in both Thailand and Finland.
  • Corsair complies with the EU’s strictest environmental requirements and focuses on cleaning the planet from plastic pollution.

Pyrolysis and Corsair’s solution

Here at Corsair, we have a solution to this problem. Our solution is to take all of this plastic garbage, everything from plastic bags, wrapping materials, different types of packaging products, and to convert them back into their original liquid form, which is oil. Something that might come as a surprise for many is actually that all of these plastics that we use in our daily lives have originally been made from crude oil coming from the ground.

We at Corsair have a solution whereby using advanced recycling technologies, a process called pyrolysis, we are actually able to convert all of this plastic waste back into its original form, which is the oil.
This oil that we produce, also called as pyrolysis oil, is a form of a crude oil. It could be used in the production of fuels. It can easily be refined to become your commercial-grade gasoline, diesel, and jet fuel.
 But even more importantly, it can also be used in the production of new plastics.

Our process is extremely efficient. As an example, we are able to convert 1,000 kilos of plastic garbage collected from the landfills and from the environment into as much as 900 liters of pyrolysis oil.
This is done through the pyrolysis process by breaking down the plastic into their smallest molecular level and then building them up again into the liquid product.

Now, this process is not only efficient, it is also very environmentally friendly. Corsair received the prestigious ISCC certification, which stands for International Sustainability and Carbon Certification, which we were extremely honored to receive as one of the very first companies in Southeast Asia.
The ISCC certificate is the highest quality certification in our industry. And aside from that, we also have all the environmental licenses and operating permits in both of our facilities, both here in Thailand as well as in Finland.
Corsair also complies with the strictest European Union environmental restrictions and is all about cleaning our planet from plastic pollution.

🎥Episode 4: Pyrolysis Oil and the Shell Collaboration (3:45 minutes)

  • Corsair produces the highest quality pyrolysis oil on the market.
  • The oil can become gasoline, diesel, jet fuel or be used for the manufacture of new plastic.
  • Corsair has been working closely with Shell, their main customer, since 2023.
  • Pyrolysis oil enables circular, more environmentally friendly plastic, in line with new global requirements.
  • “Old plastic bag → oil → new plastic” — genuine circular plastic.
  • In the future, plastic will be recycled like paper, glass and metal.
  • The solution requires global cooperation and time.
  • Plastic waste will become a valuable commodity — “mountains of garbage become mountains of gold.”

Pyrolysis Oil and the Shell Collaboration

The pyrolysis oil that is produced by Corsair is considered by our customers in the petrochemical industry to be the highest quality pyrolysis oil on the market today. This is the result of a product development process that took us at Corsair for more than two years to achieve.

The product that we produce from plastic garbage, the pyrolysis oil, can be used in the production of fuels. It can easily be refined to become your commercial standard gasoline, diesel, or jet fuel. But even more importantly, it can also be used by the petrochemical industry to produce new plastic products.

Corsair is very honored and proud to say that already for more than two years, since the beginning of 2023, we have been working in close collaboration with Shell, who today is our primary off-taker for our pyrolysis oil product.

What is done with the product once we have created it from plastic pollution is that this pyrolysis oil is used by our customers to create new, more environmentally friendlier and circular plastics, something which the new regulations already in place and coming over the next couple of years are now requiring from the plastic manufacturing industry.

What does it mean is that companies are able to finally start using products which have been made from recycled old plastic. In other words, an old plastic bag is converted by Corsair into oil, and then that oil can be made into new plastic products. This will lead into more sustainable, greener, and cleaner environment.

And our belief is that plastics in the future will become recycled exactly in the same way how we are today recycling paper, glass, and metal. It is going to take time. With the increasing amount of plastic pollution in the world, there’s a lot of work to be done. Eventually, the plastic waste problem will be solved through global collaboration with a number of stakeholders that are coming to collaborate together.

Eventually, with advanced recycling methods like what Corsair is doing with pyrolysis, we will finally be able to solve the global plastic waste crisis. We believe this to take time. It’s not going to happen overnight. With the growth of our recycling industry, eventually plastic waste will become a traded commodity exactly like rice, like metal, like gold.

I would like to paint a picture for you here where in the future, these mountains of garbage will turn into mountains of gold.

🎥Episode 5: The Pyrolysis Process Explained
(6:07 minutes)

  • Pyrolysis means heat + separation — not burning plastic.
  • The reactor works like a giant oven, where the flame never touches the plastic.
  • The plastic is broken down into gases (which drive the process) and smoke that becomes pyrolysis oil.
  • After about 8 hours the process becomes almost completely self-sufficient in energy.
  • A reactor holds 8–9 tons of plastic per batch.
  • Solar energy can power all electricity, making the factories energy neutral.
  • The process creates two oil fractions: heavy (diesel) and light (gasoline).
  • The oil is left to stand for 24 hours for natural water separation.
  • Highest quality is achieved through clean, dry and sorted plastic, with both manual and mechanical sorting.

The Pyrolysis Process Explained

Now, let’s look into the pyrolysis process. Pyrolysis comes from two Latin words. Pyro, meaning heat, and lysis, meaning separation. In other words, what we are doing is we’re using heat to break down the plastic into its smallest molecular level.

It’s very important that we don’t confuse this with burning the plastic. In our process, the actual flame that you might see in the furnace of the machines that we use never touches the actual plastic. In other words, the pyrolysis reactor functions more like a large oven. Sometimes we even call them the largest pizza ovens in the world.

As a result of this, plastic, which is loaded into the reactors, gets heated from below, from the furnace area, while it gets turned and spinned over inside the reactor. Once the plastic becomes heated, it will begin to break down in two main elements.

Number one, into flammable gases, which are collected within the system and channeled back into the furnace area. This is very important to keep in mind. With these gases, the system is able to operate on its own, by itself. We do not use any outside source of heating energy aside from what is generated from the plastic. We can, of course, but it’s important to highlight that the entire process can be run independent from any outside source of energy aside from some electricity that we use for spinning the electrical engines in the reactors.

Now, aside from these gases, the plastic will also begin to turn into smoke. The smoke is collected and channeled through a condensation system where it is now turned into the liquid, being the pyrolysis oil. This is the process in its simplest form.

Now, one of our reactors would typically be able to hold as much as 8,000 to 9,000 kilos of plastic per one batch. Batch is the term that we use for a single load, which is processed in one processing cycle.

In order to run the machine in the beginning of the cycle, when the plastic is still cold, heat must be created. As I mentioned earlier, once the machine is up and running, after approximately eight hours in the production cycle, there will be enough gases that are formed to actually run the heat source coming straight from the plastic.

During the first eight hours, we are able to use either some of the oil created on the previous cycle, or we could optionally use natural gas as well. Approximately eight hours into the cycle, these gases begin to form, and after that, the machine is able to run more or less independently from any outside energy source.

In countries such as in Thailand, or generally speaking, in the southern hemisphere in the world, we are able to use solar energy to cover all of our electricity needs. This truly means that our factories will be able to be completely isolated and independent from any energy source.

Once the oil is produced, our machines actually create two types of oil. We have a heavy fraction, which in character is very similar to diesel, and we have a light fraction, which is very similar in character to gasoline. These two types of oils are then either kept separate, if required or desired by the off-taker, but at the moment, and in most cases, our off-takers actually prefer these both fractions to be combined.

Once the oil has been received from the reactor, we will place the oil into a standing container, where it will remain for approximately 24 hours. During this time, any water which is formed by moisture, which has been left in the plastic, will now separate from the oil.

In order to make the oil the highest possible quality, we will always do our best to prepare the plastic in advance to be as clean and as dry as possible. At Corsair, we use both mechanical and manual sorting techniques, where plastic waste is separated from mixed waste. This will ensure the best quality pyrolysis oil on the market.

🎥Episode 6: Daily Operations and Raw Material Handling (3:23 minutes)

  • Corsair operates a state-owned landfill with 50 million kilos of waste collected over 30 years.
  • They remove old plastic waste and receive daily new mixed waste from the local community.
  • Source separation is almost completely lacking — everything comes in as mixed waste.
  • Plastic is sorted out through mechanical and manual sorting, other materials go to other recyclers.
  • For best oil quality, the plastic must be clean and dry, often it is washed and dried.
  • The reactors hold 8–9 tons of plastic and are run for 20–24 hours per batch.
    Up to 900 liters of oil per 1,000 kilos of plastic can be produced with the right quality.
  • Wet plastic or organic material cannot be converted into oil and only becomes waste.

Daily Operations and Raw Material Handling

Now let’s talk about the daily process of what we do here at Corsair and how the pyrolysis works. First of all, everything always begins with the raw material. For the last five years, Corsair has been managing a Thai government-owned landfill and waste management facility based in the city of Sakhe. On this landfill, there has been more than 50 million kilos of mixed waste accumulating for the past 30 years.

What we are doing is we are removing this many times decades-old plastic garbage out from the landfill together with receiving on a daily basis new mixed waste coming from the local community. Unfortunately, the situation here in Southeast Asia is that there is very little any type of waste separation taking place at the source. This basically means that all the garbage goes into one garbage bin, which then gets collected by the garbage trucks and eventually dumped into the landfills.

What we do is by using both mechanical and manual sorting systems, we separate the plastics out from all of this mixed waste. Any remaining elements of metal or glass or paper is then being separated as well and provided for other recyclers, while we focus on the plastic that is then processed further to be ready for recycling.

In order for us to produce the highest quality pyrolysis work, we always want the plastic waste to be as dry and as clean as possible. Therefore, in order to avoid any residue, we often process the plastic by first washing it and then drying it.

Now, once we have processed the plastic, it gets bailed and eventually then loaded into the pyrolysis reactors. One individual reactor is typically able to hold as much as 8,000 to 9,000 kilos of plastic waste per a processing cycle or a batch. The processing cycle to convert this plastic waste into oil would typically take between 20 to 24 hours. During this time, we are able to convert this 1,000 kilos of plastic waste, for example, into as much as 900 liters of oil.

But of course, if the plastic is wet or there is any other type of material like organic waste, food waste or anything else there, we obviously cannot produce oil from, but it will add up on unnecessary waste.

🎥Episode 7: Oil Handling, Water Separation & Delivery (3:03 minutes)

  • The pyrolysis oil is left to stand for about 24 hours so that water naturally separates.
  • Clean and dry plastic is crucial — moisture creates steam instead of oil.
  • Separated water is further purified in Corsair’s water treatment plant.
  • The oil is filtered, stored and made ready for customer delivery.
  • Delivery takes place in ISO containers that hold up to 24,000 liters.
  • Containers are filled at Corsair’s facility and shipped to customers like Shell.

The pyrolysis cycle: plastic → oil → new plastic.

Oil Handling, Water Separation & Delivery

Once the oil comes out from the machine, it is first placed into a standing container. In this container, the pyrolysis oil will stand for about 24 hours, during which any remaining water, which would have been formed by having moisture in the plastic, will now separate from the oil.

When loading the reactor, we always want to make sure that the plastic is as clean and as dry as possible. This is where the pre-preparation of the raw material has a very important role. For example, if the plastic has a lot of moisture, let’s say that the plastic material has been in a rain, what would typically happen is that for the first few hours, we wouldn’t get any oil at all. We would simply get a lot of steam as the plastic inside the reactor is now heated and converted into water.

This is why the standing container is very important, because any water which would be mixed with the oil will be naturally separated when the oil stands for approximately 24 hours. After this, we will be able to take the water and process that further in the water cleaning system, and now the oil is ready to be filtered, stored, and eventually delivered for our clients.

Once the oil is ready for delivery, it will be loaded into so-called ISO containers, a specifically designed chemical tank built inside of a container form, which can hold as much as 24,000 liters of oil for one shipment. Our logistical partners will then send these containers to our facility, where we load the oil into the container, and after that, it gets shipped for our offtakers, for example Shell, who uses our oil in their processing in creating of the chemicals needed for the plastic manufacturing.

This is the simplest summary of the process called pyrolysis, where plastic waste will first be converted into oil, and then that oil can be used to produce new plastic products.

🎥Episode 8: Different Plastic Types & What Corsair Recycles (3:21 minutes)

  • Corsair can recycle all plastic types except PVC.
  • Main focus: polyolefins – bags, films, packaging.
  • PET bottles are mainly recycled mechanically, therefore Corsair prioritizes other plastic types.
  • Mechanical recycling turns PET bottles into pellets for building materials.
  • Colored plastic and multilayer plastic are the most difficult to recycle — but Corsair can now handle them.
  • Corsair focuses on the plastic no one else wants to or can recycle.
  • The goal: to recycle what has so far been considered unrecyclable.

Different Plastic Types & What Corsair Recycles

You might be aware that there are a number of different types of plastics. At Corsair, technically, we are able to process any other type of plastic aside from PVC. PVC is something that you would typically find, for example, used in water pipes, or, for example, an imitation leather would contain this type of plastic.

Our main focus would be in the so-called polyolefin type of plastics, which typically would be your plastic bags and different types of film used in wrapping materials. PEP plastic, which is typically used for the PEP plastic bottles, is something that we are technically able to process, but we don’t typically do that. The reason why we don’t do that is that there is already a quite well-established mechanical plastic recycling market, which is almost exclusively focusing on the recycling of the PEP plastic bottles.

We are going to be talking about the differences between mechanical recycling and what we do as in chemical recycling in another section, but what I can share with you here is that the mechanical recyclers will typically take these plastic bottles, break them down into small pellets, which can then be used in the manufacturing of primarily construction materials.

Now, aside from these plastics, there are also other types of plastics. Many times you will see plastics which include a lot of coloring. Even plastics which we refer to as multi-layer plastics, where you have a metal film together with a layer of plastic. These are the typically most challenging ones to recycle, but I’m happy to share with you that at Corsair we have now developed a way of even recycling these most challenging types of plastic waste, including these multi-layer plastics, which typically are considered unrecyclable.

Corsair is constantly working on developing further solutions on how we can process any type of plastics in the environment, in the landfills, in order to be as efficient and a sustainable recycler as possible. But in a nutshell, we always want to focus on the stuff that nobody else wants. If there is a type of plastic that somebody else is able to recycle, we are very happy for them to do that and we’ll focus on the stuff that nobody cares about.

🎥Episode 9: Landfills, Plastic Volume & Why Recycling is Crucial (3:38 minutes)

  • Landfill owners hate plastic because plastic never breaks down.

  • Organic waste disappears — plastic turns into microplastics that harm the environment and health.

  • Corsair removes old plastic waste and manages new waste streams.

  • Thailand has over 2,000 landfills and produces 3 billion kilos of plastic per year.

  • Plastic is only 20–25% of the weight but the largest part of the volume.

  • Most landfills are already full due to the volume of plastic.

  • Chemical recycling is needed to remove plastic from landfills and create valuable raw material.

Landfills, Plastic Volume & Why Recycling is Crucial

Plastic waste is a major problem for the landfills. Every landfill owner that I have personally spoken to literally hates plastic waste. Why is that? Well, let’s think about it for a moment. Any type of organic waste, like food waste, fabric, paper, would eventually deteriorate, whereas plastics ain’t going anywhere.

Based on a number of studies, we’ve learned that it will take as much as hundreds of years for plastic eventually to break down. And even still, the plastic ain’t disappearing anywhere. It only breaks down into smaller so-called microplastics, which will then enter into our ground, into our waterways, causing major different types of health and environmental problems for the people.

What we do at Corsair is we work together with both private and governmental landfill owners to go into these landfills and start removing this old plastic waste that oftentimes has been standing there for years and years and years. Additionally, we will manage the new incoming waste to these landfills where we separate the waste into different streams where only the types of garbage, such as bio-waste, will now enter into the landfills. The plastics will be removed from this mixed source and then further on processed to our recycling operations.

Here in Thailand alone, we have more than 2,000 landfills. The country generates approximately 3 billion kilos of plastic waste during one year alone. You can only imagine the type of problem that this material is causing for the landfills around the country. And that is also the reason why most of the landfills today are either already full or nearing capacity.

Interesting little fact is that the composition analysis that we do for these landfill garbage shows us that the plastic from the weight of the garbage represents typically only 20 to 25 percent. But it’s not the weight that is the problem, it’s the volume that is the problem. Plastic takes a lot of space, it doesn’t really weigh that much and it’s causing all this problem by never deteriorating.

That’s why it is absolutely crucial that we continue to build an effective and efficient chemical recycling infrastructure where companies like Corsair will be able to go to these landfills, take away all this old and new plastic waste and turn it into a valuable, high-quality, biolysis oil raw material.

🎥Episode 10: Global Collection Programs & Plastic as a Source of Income (5:28 minutes)

  • Corsair has 150+ plastic collection points in Bangkok.
  • Partners include hospitals, shopping centers, restaurants, hotels, etc.
  • Plastic is isolated directly at the source, before it has time to mix with other waste.
  • Corsair also collaborates with waste companies that pre-sort plastic.
  • Catching Plastic: 100,000+ fishermen are paid for every kilo of plastic they pick up.
  • In 2050, there may be more plastic than fish in the oceans.
  • Trash for Cash allows poor communities to earn money by collecting plastic waste.
  • Plastic becomes a valuable resource instead of a problem.

Global Collection Programs & Plastic as a Source of Income

Aside from our landfill and waste management operations, we have also built our plastic waste collection program, which today includes more than 150 collection points throughout the capital city of Bangkok.

As a part of this process, Corsair works together with hospitals, shopping centers, hotels, apartment buildings, restaurants, even car dealerships, where we have installed our collection bins, where the staff and the tenants and the customers of these establishments can now separate their plastic waste into.

This is extremely valuable, extremely efficient, because what happens here is that plastic waste no longer enters into a mixed stream, mixing up with all the food and dirt and everything else in the landfill, but instead we can isolate the plastic already at the source.

We are extremely grateful and extremely happy about every single partner that has joined our plastic waste collection program here in Thailand, a program that we eventually foresee to happen and to be developed all over the world.

Additionally to this program, we also work together with other waste management companies that would separate the plastic waste for us. In other words, they would now do the same work as we do at our landfills, where they separate the plastic and then prepare it for the plastic waste chemical recycling process.

We also have a very exciting initiative called Catching Plastic. As a part of this process, Corsair works together with more than 100,000 Thai fishermen who as part of their daily fishing work unfortunately encounter a lot of plastic waste stuck in their nets. Without having another option available, they would typically throw all this plastic back into the water.

But now as a part of our collaboration, Corsair pays for the fishermen for every kilo of plastic that they collect and bring back to the shore. In this way, the fishermen are now able to earn an income by not only catching fish but also from catching plastic.

The projections are showing that by the year 2050, there is going to be more plastic waste in our oceans than fish. That’s why this initiative is extremely important and something that we are looking to scale up and expand around the world.

Last but not least, we are also extremely proud to have recently launched our very first of many more to come, Corsair Plastic Waste Collection Centers. In this initiative, we work together with a great organization here in Bangkok, Thailand called Bangkok Community Health Foundation.

As a result of this collaboration, we have launched our first Trash for Cash location where people living in the Klong Toi slum, the largest slum area here in Thailand, including more than 140,000 residents, many of them living in poverty, are now able to bring their plastic waste to us and earn a cash payment for every single kilo.

In other words, the people now living in the community are able to earn an extra income while selling their plastic garbage to Corsair and cleaning up their own community.

Unfortunately, we see this happening all over the world. It is many times the poorest areas in the planet that are also the most polluted areas. If you are constantly struggling to provide food and shelter for your family, recycling is understandably not very high on your priority list.

Our Trash for Cash process brings value to these people where they are now able to earn an extra income while cleaning up their own community. We hope to be expanding this operation all over the world to every single community where help can be provided.

Now, for the first time in history, it is actually possible to put a financial value on this discarded plastic garbage.

🎥Episode 11: Competition & Market Potential (3:21 minutes)

  • Global plastic production is approximately 500 million tons per year, but only around 5% is recycled.
  • Plastic production is expected to triple over the next 30 years.
  • There is no shortage of plastic waste, but of recycling capacity.
  • Demand for ISCC-certified pyrolysis oil is enormous and far greater than today’s supply.
  • Corsair’s goal of 1 billion liters per year corresponds to only 1% of the market.
  • The market is so large that even this share decreases over time despite strong growth.

Competition & Market Potential

A question that I am often asked is about competition.
Well, let’s break this down.

The global production of plastic today is about 500 million metric tons per year. Only about 5% of that is currently being recycled. Projections show that both production and demand for new plastic are set to triple over the next 30 years. This means that there is practically an unlimited amount of plastic waste available to be recycled.

So the answer to the question about competition really is: what competition?

We are obviously not going to run out of plastic waste to recycle. The reality is that we need more companies to enter the recycling space and, together with Corsair, move forward in building a globally active and efficient plastic waste recycling infrastructure.

At the same time, the demand for ISCC-certified, high-quality pyrolysis oil is currently approximately 100 billion liters per year, while global production output is only around 40 million liters per year. This creates a massive gap between supply and demand.

What this shows is that there is literally an unlimited demand for the production of our product.

At Corsair, our target over the coming years is to grow our annual production to reach a total of 1 billion liters of pyrolysis oil per year. That would secure a 1% market share. With plastic production estimated to triple over the next 30 years, that 1% market share would eventually shrink to around 0.3%.

I have never seen an opportunity like this before, where we essentially have no competition, no shortage of raw material, and no shortage of demand.

At the same time, governments and institutions around the world, including the United Nations and the European Union, are actively working toward solving the global plastic waste crisis.

And this is what Corsair is all about.
 We are here to stay, and we are here to leave a cleaner, greener, and healthier environment for future generations.

🎥Episode 12: Financial Model for a Corsair Factory (1:51 minutes)

  • A Corsair factory handles up to 12 million kilos of plastic waste per year
  • This results in an annual production of approximately 10 million liters of pyrolysis oil
  • The market price for ISCC-certified pyrolysis oil is approximately USD 1 per liter
  • Each factory can generate approximately USD 10 million in annual revenue
  • The investment cost per factory is USD 6–8 million
  • Full operation is normally reached within 18–24 months
  • The expected annual profit is USD 6–8 million, which makes the model very profitable

Financial Model for a Corsair Factory

A standard-sized standalone Corsair factory is designed to process up to 1 million kilos of plastic waste per month. This equals approximately 12 million kilos of plastic waste per year.

From this volume, the factory can generate up to 10 million liters of oil annually. The current market price for ISCC-certified, high-quality pyrolysis oil is approximately 1 US dollar per liter.

This means that a single standalone factory is capable of generating annual revenues of around 10 million US dollars.

To build one of these factories, which typically requires a footprint of approximately 10,000 square meters and has the capacity to process 12 million kilos of plastic waste per year, the global average investment cost is between 6 and 8 million US dollars.

Once the facility has reached full operational capacity, which is typically achieved within 18 to 24 months, it is expected to generate an annual profit of approximately 6 to 8 million US dollars.

As you can see, the financial model of a standalone Corsair factory is both highly attractive and very efficient.

🎥Episode 13: Why don’t the big oil companies do this themselves? (4:06 minutes)

  • Large oil companies do not want to work with waste, landfills or garbage management
  • The waste industry often involves difficult local and political challenges
  • Chemical recycling of plastic is still in an early, entrepreneur-driven stage
  • Large companies prefer to buy ready-made businesses rather than build new ones
  • Companies like Corsair fill the gap by managing the entire waste stream
  • The role is particularly important in regions with weak waste infrastructure

Why don’t the big oil companies do this themselves?

A question I am often asked is:
 “If Corsair’s business model is so strong, so attractive, and so financially viable, why aren’t the big oil companies or petrochemical companies doing this themselves?”

To be honest, I asked this exact same question to a top executive at one of the largest oil and gas petrochemical companies in the world. I truly value and appreciate his answer.

His first point was very simple. Large oil companies and petrochemical corporations do not want to deal with garbage. They have no interest in handling waste, landfills, or the realities of waste management. In many parts of the world, especially in developing regions, this also means dealing with corruption, local politics, organized crime, and other complex elements tied to the waste industry. They simply want the oil product. They do not want to deal with the garbage. And that makes complete sense.

The second reason he mentioned was that the chemical recycling of plastic waste, where Corsair operates, is still in its early stages. At this phase, you need an entrepreneur. It would be impossible for a large corporation to set up a traditional corporate team working nine to five, Monday to Friday, and expect them to build this kind of business from the ground up.

You need someone who is willing to dedicate five, six, seven, even eight years to building the operation. After that, large oil companies can step in with their significant capital, acquire the business, and bring the entrepreneur on board to continue working within their structure.

He also explained that large corporations typically do not build businesses from scratch. Instead, they buy businesses once they are proven and operational.

These are the main reasons why petrochemical companies do not do what Corsair does themselves. Instead, they prefer to support companies like Corsair, allowing them to handle the parts of the business that the large corporations are not interested in managing.

There are, of course, exceptions. For example, ExxonMobil in the United States is currently developing and has already started its own pyrolysis-based chemical recycling plant. However, in most parts of the world, particularly in regions where waste management infrastructure is still almost nonexistent, such as here in Asia, oil and petrochemical companies have no interest in doing the dirty work themselves.

This is where companies like Corsair come in. We manage landfills, handle waste sorting, and ultimately supply the much-needed, high-quality pyrolysis oil to the industry.

🎥Episode 14 part 1: The idea that can change the world – How Corsair was born (Part 1)
(5:41 minutes)

  • China’s import ban in 2018 exposed plastic waste as a global problem
  • Pyrolysis was identified early on as a possible solution
  • Collaboration with Chulalongkorn University provided technical basis and insight
  • Functional, proven technology was prioritized over experiments
  • Corsair was founded in 2020 with a focus on industrial scalability
  • The acquisition of the facility in Bangkok provided a quick operational foothold
  • Upgrading to international standards laid the foundation for future expansion

The idea that can change the world – How Corsair was born
(Part 1)

In 2018, shortly after China banned plastic waste imports, the world began to truly realize that plastic waste is a serious global problem. For decades, most plastic waste from the United States, the European Union, Australia, and Japan had been shipped to China, where it was dumped in landfills, burned, or in some cases simply discharged into the oceans.

Around this time, I was introduced to the concept of plastic waste pyrolysis through a prestigious Thai university, Chulalongkorn University. The university had spent several years studying how the pyrolysis process could be used in the recycling of plastic waste. They had developed a pilot machine, which I was invited to see, and they were looking for additional funding to further develop a more efficient technology capable of processing different types of plastic waste.

After being introduced to chemical recycling of plastic waste through pyrolysis at Chulalongkorn University, my first thought was: how can we take this concept, this revolutionary innovation, and truly commercialize it into a global industrial operation?

By then, it was already clear that plastic waste was a massive global problem and that a real solution was urgently needed. I believed even at that early stage that chemical recycling of plastic waste through pyrolysis could deliver the solution the world was looking for.

Our first step after this introduction was to get involved and invest in the new technology being developed by the team originating from Chulalongkorn University. Unfortunately, that development process took much longer than expected, and the team is still working on that technology today. Hopefully, one day it will be completed.

Nevertheless, in 2020, I found a supplier of pyrolysis reactors originating from China that was able to demonstrate a fully functional machine, with no speculation about whether it worked or not. This was critical. My first priority was to ensure that we had technology that was guaranteed to work and do exactly what it was supposed to do.

After securing a reliable technology supplier, we decided to move forward and establish the company Corsair, together with my four co-founders.

Shortly after launching the company, we were presented with an opportunity to acquire an existing pyrolysis facility in Bangkok, Thailand. The previous owner had been operating the site for several years, but with very poor management and weak results. The facility itself was in terrible condition.

However, there were already two operational pyrolysis reactors on site. They were not in ideal condition, but they were functioning. In addition, the location already had all the necessary licenses required to operate a plastic waste pyrolysis recycling facility.

Based on these factors, I negotiated an acquisition agreement with the previous owner. In August 2020, we officially took over the facility.

From that point on, we began working on the site. It took several months just to clean it up. Step by step, we then brought the facility and its operations up to international standards. During this period, we also acquired a brand-new pyrolysis machine, which was installed at the factory and became the third reactor at our first plastic waste recycling facility.

🎥Episode 14 part 2: The idea that can change the world – How Corsair was born (Part 2)
(4:51 minutes)

  • Upcoming regulations were identified early, before they were formally introduced
  • Early growth was made possible through self-financing and private investors
  • The 2021 regulations opened the door to global petrochemical players
  • Oil quality was the biggest challenge for market breakthrough
  • Two years of intensive development were required to reach industry standard
  • Corsair’s pyrolysis oil is today considered among the best on the market

The idea that can change the world – How Corsair was born
(Part 2)

From the very beginning, we knew that regulations were being developed that would require the plastic manufacturing industry to use recycled plastic waste as raw material in the production of new plastic products. We already knew this was coming in 2020, even though there was no clear timeline or guarantee for when these regulations would actually come into effect.

Because of that uncertainty, we initially focused on producing pyrolysis oil and selling it locally to the fuel industry in Thailand. That is how we got started.

At the beginning, we did not have much capital. Our early operations were largely self-funded, with important and much-appreciated support from our first group of private equity investors. They joined us on what was, at the time, a very bold mission, taking a leap of faith in our long-term vision for recycling plastic waste.

Thanks to this support, we were able to continue developing our first facility and gradually bring operations to a level where we were producing increasing volumes of pyrolysis oil month by month.

As soon as the new regulations were introduced in 2021, the largest petrochemical, oil, and gas companies in the world began to contact us. For a young company like Corsair, this was truly a groundbreaking moment.

Think about it. A small, newly established company was suddenly being contacted by some of the largest companies in the world. Not only leaders in the oil and gas industry, but some of the largest corporations on the planet. Fully aware of the incoming regulations, they were actively searching worldwide for companies capable of producing pyrolysis oil that could meet the needs of the petrochemical industry.

The initial challenge was oil quality. The oil produced by Corsair in the early years, similar to what most producers around the world were making at the time, did not meet the extremely strict quality requirements of these petrochemical companies.

It took Corsair approximately two years to reach those standards. During that time, we moved back and forth between laboratories and testing facilities, continuously refining our production process. Step by step, we developed our operation to the point where the oil quality finally met the requirements of every major petrochemical company.

We are extremely proud of our team and what we achieved during those early years. There was no handbook, no documentation, no playbook to follow. We were operating at the very forefront of this development.

Today, Corsair’s pyrolysis oil is widely regarded as being among the highest quality on the market, and by some, it is considered the best. This is an achievement we take great pride in.

🎥Episode 15: Expansion through acquisitions
(8:23 minutes)

  • Acquisitions have been a central part of Corsair’s growth strategy
  • Early acquisitions provided licenses, facilities and functioning reactors
  • The market situation in 2020 created unique opportunities for strategic purchases
  • Merged teams increased the pace of development and reduced repeated mistakes
  • Acquisitions enabled rapid improvement of oil quality and processes
  • The strategy is now used globally for faster expansion

Expansion through acquisitions

One of the most important strategies that has allowed Corsair to grow to where we are today has been expansion through acquisitions.

Let me explain how we started and how acquisitions played a key role during our early years. When we were preparing to launch our first plastic waste recycling facility, we entered into an agreement with the local government in the city of Sao to take over and manage the local landfill and waste management facility. Our original plan was to establish our first pyrolysis operations directly at the landfill, in order to stay close to the waste we were managing.

At that time, I had found a supplier of Chinese-built pyrolysis reactors in Thailand, and we entered into a contract to purchase a brand-new unit. While discussing our expansion plans, the supplier asked how many machines we intended to purchase over the coming years. I explained that our ambition was to buy tens, even hundreds of machines as part of a global expansion plan.

Instead, he asked if we would be interested in acquiring an already existing factory in the Nonthaburi area. He had been operating the facility for several years, but with poor results, and he had no interest in further developing or continuing the operation.

This took place in 2020, during the global pandemic and lockdowns, when international oil prices crashed to the lowest levels seen in over 30 years. As a result, the facility was operating at a loss. The timing was right for him to sell, and we negotiated an agreement that allowed Corsair to acquire the facility over a period of approximately 12 months through a structured payment plan.

This acquisition was a critical step for us. The facility itself was in very poor condition, but it already had valid operating permits for plastic waste processing and two operational pyrolysis reactors, albeit in bad condition. With the addition of a third reactor that we purchased, we were able to begin developing the facility toward international standards. This marked our first major expansion.

A few months later, we learned about another company in Bangkok operating in the same field of chemical recycling of plastic waste. This company was significantly more advanced than we were at the time. They had a well-maintained facility and two Korean-built pyrolysis reactors running on a daily basis.

After meeting with the owner, it became clear that this company would be a strong strategic acquisition for Corsair. We negotiated an agreement and acquired the company together with its assets, staff, engineers, machinery, contracts, and technical know-how.

This was another extremely important milestone. It allowed us to bring together three separate teams that had previously been working independently on the same challenges. We brought everyone to the same table with a simple message: share everything that didn’t work, learn from past mistakes, and move forward together under one Corsair banner.

Our approach was straightforward: let’s make new mistakes together and learn from them, instead of repeating old ones.

Because of these acquisitions and the strengthened team that emerged, we were able to make significant leaps in development. This unified production and development team became among the first in the world to solve one of the biggest challenges in the industry: how to upgrade low-quality pyrolysis oil to meet the extremely strict quality requirements of the petrochemical industry.

Following the success of these acquisitions in Thailand, Corsair has continued with the same strategy. As of September 2025, we are in the process of acquiring several additional pyrolysis companies around the world. We have already negotiated takeovers of facilities located in Sri Lanka, Latin America, and within the European Union.

Many companies have attempted to achieve what Corsair has accomplished, but for various reasons have not succeeded. We openly welcome companies that are struggling with their operations or product development to reach out to us. We are highly interested in acquiring businesses that share our mission and passion.

This strategy of expansion through acquisition strengthens Corsair and enables us to accelerate our global expansion at a much faster pace.

🎥Episode 16: Plastic Recycling Capacity in a Corsair Facility (2:09 minutes)

  • Each Corsair facility handles up to 1 million kilos of plastic waste per month
  • The annual capacity corresponds to 12 million kilos of plastic, approximately 200,000 people’s waste
  • The facilities are built on approximately 10,000 square meters
  • Each facility has 10 modular pyrolysis reactors
  • Modular design reduces downtime and technical risk
  • Operation takes place around the clock, all year round for maximum efficiency

Plastic Recycling Capacity in a Corsair Facility

A standard standalone Corsair facility is always designed with the purpose of being able to process up to 1 million kilos of plastic waste per month. This corresponds to approximately 12 million kilos of plastic waste per year, which is roughly the amount of plastic waste generated annually by about 200,000 people.

Each Corsair facility is designed to be built on a footprint of approximately 10,000 square meters and to include a total of 10 modular pyrolysis reactors. At Corsair, we believe that a modular setup is the right approach. Instead of relying on one large machine, we deliberately use multiple smaller units.

These 10 reactors are designed to operate on a continuous 24-hour cycle. This modular design also allows us to better manage technical issues and maintenance downtime. If a facility were built around a single large machine, as is the case with several other companies in the industry, the entire production would come to a halt if that machine failed.

With 10 modular units, if one reactor encounters an issue, the remaining nine can continue operating normally. All Corsair facilities are designed to run 24 hours a day, 7 days a week, enabling us to reach our target output of high-quality pyrolysis oil.

🎥Episode 17: Global Expansion Plan
(2:27 minutes)

  • Plastic waste is a global problem without exception
  • Corsair aims to build recycling plants worldwide
  • The long-term goal is 1 billion liters of pyrolysis oil per year
  • Corsair is already operational in Europe and Asia
  • Expansion is underway in North America, Latin America, Africa and more regions
  • Global infrastructure can turn plastic waste into a valuable resource
  • Circular plastic production is the ultimate goal

Global Expansion Plan

Corsair’s objective is to expand its facilities globally. Our mission is to build recycling facilities in every corner of the world. What we have seen so far is that there is not a single country where plastic waste is not a problem.

As a company, our target over the coming years is to reach an annual production output of 1 billion liters of pyrolysis oil. Plastic waste is truly a global challenge. There is no country today that does not struggle with plastic pollution.

Corsair’s strategy is to build recycling centers across the globe and provide a sustainable, efficient, and environmentally friendly solution to this problem. At present, Corsair is already operational in both Europe and Asia.

Right now, we are actively expanding our operations into North America and Latin America, as well as into additional European countries, Africa, the Middle East, Asia, and Oceania. This expansion is based on a proven, efficient, and environmentally responsible solution.

By deploying our facilities worldwide, we believe we can help create a global infrastructure where plastic waste is no longer treated as garbage, but instead becomes a valuable raw material. Through advanced recycling, this waste is transformed into high-quality pyrolysis oil and supplied to the petrochemical industry as a raw material for the production of more environmentally friendly and circular plastic products.

🎥Episode 18: Finland: Corsair’s first European facility (4:25 minutes)

  • Corsair established its first European facility in Jämsä in 2023
  • The facility covers approximately 50,000 square meters
  • The initial focus was on permits, testing and EU compliance
  • New reactors are being commissioned with great future expansion potential
  • Capacity up to 50 reactors and 5 million kilos per month
  • Shell Europe is the main recipient of the pyrolysis oil
  • The project creates both environmental benefits and new jobs

Finland: Corsair’s first European facility

In 2023, Corsair took a very important step by expanding its operations to Europe, choosing Finland and the city of Jämsä as the location for its first European facility. We were extremely fortunate to secure a former paper manufacturing site, where Corsair took over a building offering approximately 50,000 square meters of operational space. The facility has been operational since late 2023.

Initially, we started with one pyrolysis reactor. This was a crucial step in the process of securing all necessary environmental permits and licenses, as well as conducting extensive testing to ensure full compliance with the strict environmental regulations of the European Union.

I am very pleased to share that as of September 2025, we are just days away from completing the installation of three additional reactors. These reactors will soon become operational and will significantly increase our production capacity.

The Finnish facility has enormous expansion potential. The building itself allows for the installation of up to 50 reactors, which would enable processing of as much as 5 million kilos of plastic waste per month. This scale would have a major impact on the plastic recycling market in Europe and also serve as a showcase for a modern, state-of-the-art advanced plastic recycling facility.

Our current plan is to continuously expand the Finnish site by adding more reactors. The next major milestone is to have a total of 10 reactors in full operation during 2026. This would allow us to reach an annual production target exceeding 10 million liters of pyrolysis oil.

We have already established a collaboration with Shell Europe, which will act as the primary offtake partner for the oil produced at the Finland facility, known as the Kipola site. Deliveries and shipments to Shell are expected to begin in the coming months.

We are extremely grateful for the strong support we have received from the city of Jämsä, where local authorities have been both supportive and welcoming. It is also important to note that when this site previously operated as a paper manufacturing plant, its closure left more than 500 people unemployed. Corsair is therefore not only delivering an important recycling solution, but also creating much-needed job opportunities for the local community.

Finland represents Corsair’s first European facility, and it marks the beginning of our broader expansion across Europe in the years to come.

🎥 Episode 19: Corsair’s oil market, regulations and opportunities (5:10 minutes)

  • Pyrolysis oil can be used for fuel or new plastic production
  • The EU requires at least 30% recycled content in new plastic
  • The regulations apply in full from January 1, 2025
  • Demand for ISCC-certified pyrolysis oil is approximately 100 billion liters
  • Petrochemical quality is valued at around USD 1 per liter
  • Only plastic-to-plastic counts as real recycling

Corsair’s oil market, regulations and opportunities

The pyrolysis oil produced by Corsair can be used in two different ways. It can be refined into fuels such as gasoline, diesel, and kerosene. More importantly, however, it can also be used as a raw material in the production of new plastic products.

When Corsair first started, the initial target market was the fuel industry. Under that business model, the expected price point for the oil would have been around 50 cents per liter.

The real breakthrough for the industry came in 2021, when the European Union introduced a new regulation requiring companies that manufacture plastic in Europe, or import plastic into Europe, to use a minimum of 30 percent recycled raw material in the production of new plastic products. This regulation was introduced in 2021 and became fully effective on January 1st, 2025.

This regulatory change completely transformed the pyrolysis recycling industry. As a result, there is now a market demand of approximately 100 billion liters of ISCC-certified pyrolysis oil that meets the extremely strict quality requirements of the petrochemical industry.

This is critically important for two reasons. First, the market price for pyrolysis oil that is suitable for petrochemical use is approximately 1 US dollar per liter. Second, only oil that meets these high standards can be used in the production of new plastic, which is what qualifies as true recycling under European Union and United Nations definitions.

At Corsair, we anticipated these regulations well in advance. For two years, we focused on developing our process and refining our product to reach the required quality level. Today, Corsair’s pyrolysis oil is widely considered to be among the highest quality on the market.

This means that a standard standalone Corsair facility, capable of producing up to 10 million liters of pyrolysis oil per year from approximately 12 million kilos of plastic waste, now operates under a highly attractive and financially viable business model.

What truly separates Corsair from many other operators in the pyrolysis oil industry is that our oil is among the very few that can be used by the petrochemical industry. Many other producers still sell their oil into the fuel market.

The difference is crucial. Pyrolysis oil used for fuel production is not considered recycling by the European Union or the United Nations, because the oil is ultimately burned. Only when pyrolysis oil made from plastic waste is used to produce new plastic can it be defined as recycling.

This creates both a significant financial advantage and a major environmental benefit. By focusing entirely on supplying pyrolysis oil for the production of new, circular plastics, Corsair is positioning itself at the center of a rapidly growing and highly regulated global market.

🎥 Episode 20: The Corsair opportunity: where business meets environmental benefits (4:35 minutes)

  • Corsair combines business benefits, environmental impact and long-term responsibility
  • Plastic waste is becoming a valuable global commodity
  • The demand for high-quality pyrolysis oil is enormously greater than the supply
  • 1 billion liters per year corresponds to only a small part of the market
  • Global plastic production is expected to triple within 30 years
  • Regulations and authorities are driving this transition

The Corsair opportunity: where business meets environmental benefits

It is very rare to see a business model where capitalism, environmental responsibility, and philanthropy come together. This is exactly what Corsair represents.

Corsair operates at the forefront of a global transformation where plastic waste is no longer viewed as a problem, but instead as a valuable, globally traded resource. While this transition will take time, the plastic waste crisis will eventually be solved. My personal expectation is that this process will take between 20 and 30 years.

By scaling globally and by having more companies like Corsair enter the market, we can provide an efficient, sustainable, and environmentally responsible way of converting discarded plastic waste into high-quality raw material for the production of new plastic products.

Corsair’s long-term ambition is to reach an annual production of up to 1 billion liters of pyrolysis oil. At the same time, current global demand for ISCC-certified, high-quality pyrolysis oil stands at approximately 100 billion liters per year, while global production today is less than 40 million liters annually. This imbalance creates a remarkable business opportunity.

Even if Corsair reaches its ambitious target of producing 1 billion liters per year, that would satisfy only 1 percent of global demand. In other words, Corsair’s goal is to reach a 1 percent market share in an extremely large and rapidly growing market.

Looking ahead, the situation becomes even more compelling. Global plastic production is expected to triple over the next 30 years, increasing from roughly 500 million metric tons per year to 1.5 billion metric tons annually. As production and demand grow, Corsair’s 1 percent market share target would effectively shrink to around 0.3 percent.

Personally, I have never seen a business opportunity like this. We are dealing with an almost unlimited supply of raw material, nearly unlimited demand, minimal competition, and strong regulatory and governmental support worldwide, all focused on solving the global plastic waste crisis.

If there has ever been a business opportunity with perfect timing, this is it.

We encourage you to follow Corsair’s journey as we continue expanding globally, building new recycling centers across Asia, Europe, North America, Latin America, Africa, and the Middle East. Corsair is here to stay, and our mission is to leave behind a healthier, greener, and cleaner planet for future generations.

🎥 Episode 21: What is a plastic credit?
(4:58 minutes)

  • Plastic credits follow the same principle as carbon credits
  • A plastic credit is a digital proof of removed plastic waste
  • Credits are issued based on verified collection and recycling
  • Companies are responsible for their plastic footprint
  • Plastic credits connect polluters and recyclers
  • They create a new economy around plastic cleanup
  • Economic incentives are crucial to solving the plastic problem

What is a plastic credit?

You may already be familiar with the concept of a carbon credit. A carbon credit is an environmental instrument that is already mandatory in many parts of the world. In its simplest form, the idea behind carbon credits is that companies that pollute are required to pay companies that reduce pollution or remove carbon emissions from the environment.

A well-known example is Tesla, which for several years actually generated more revenue from selling carbon credits than from selling cars.

Following the same logic, a global rollout of plastic credits is now taking place.

So, what is a plastic credit? A plastic credit is essentially a digital receipt that proves that plastic waste has been removed from the environment. Every time plastic waste is collected from landfills, oceans, or the general environment, this physical cleanup work is documented. Based on that verified collection and recycling effort, the company that performed the work is entitled to issue plastic credits.

These plastic credits are then used by companies that either voluntarily choose to take responsibility for their plastic footprint, or are required to do so under new regulations being implemented globally. The goal is for companies to remove from the environment the same amount of plastic waste that they generate each year.

In practical terms, this means that a company using plastic in its packaging or products becomes responsible for removing an equivalent amount of plastic waste from the environment for the first time in history.

Most consumer brands do not collect plastic themselves. Instead, they work together with companies like Corsair that specialize in collecting and recycling plastic waste. The connection between the company that produces plastic waste and the company that removes it is the plastic credit.

Plastic credits create a new economic system based on cleaning the planet. They assign a monetary value to plastic waste that would otherwise have no value. By putting a price on plastic collection and recycling, plastic credits incentivize companies like Corsair to scale their operations and remove more plastic from the environment.

In simple terms, the concept of plastic credits follows the same principle as carbon credits: the companies that pollute pay the companies that clean.

🎥 Episode 22: CSR Plastic waste removal Service (2:23 minuter)

  • Corsair offers a plastic waste removal service through its network.
  • Customers appoint Corsair to remove a specific, agreed amount of plastic waste from the environment
  • Once removal is completed, the customer receives CSR plastic credits as proof of the work
  • CSR plastic credits are digital receipts confirming verified plastic removal
  • Customers receive these credits at a discounted rate compared to market value
  • Credits can be retired to offset plastic waste and generate a removal certificate
  • Credits can also be sold on public digital asset exchanges.
  •  

Through the network, Corsair is offering its customers a plastic waste removal service.

The plastic waste removal service works in the following way. The customers appoint Corsair to go out and remove an agreed amount of plastic waste from the environment. Once Corsair has completed this work, which it is committed to do within an agreed time period, Corsair will provide the customer with an equivalent amount of CSR plastic credits as a receipt for the completed work.

The CSR plastic credit is a digital receipt which proves that plastic waste has been removed from the environment, and the customer will be the owner of these credits.

When the customer participates in our mission of cleaning the planet from plastic pollution by purchasing our plastic waste removal service, they are able to enjoy significant benefits. Because they are involved in the actual removal of plastic waste and the creation of CSR plastic credits, they are able to receive these credits at a significant discount compared to their current market value.

This means that the customer has two options. They can either use our retirement process and offset a certain amount of plastic waste from the environment, resulting in the creation of a plastic waste removal certificate.

They can also choose to place these credits for sale on public digital asset exchanges.

These are the benefits that our customers receive when they participate in our mission of cleaning our planet from plastic pollution.

🎥 Episode 23: Benefits of CSR plastic credits for companies: plastic accountability in action (2:32 minuter)

  • Plastic neutrality is still voluntary, giving early adopters a strong advantage.
  • Companies that offset their plastic footprint gain major business benefits.
  • The CSR Plastic Neutrality label helps communicate responsibility and action.
  • Companies that remove their full annual plastic footprint can use the CSR label.
  • Over 80% of consumers prefer brands that take responsibility for plastic waste.
  • Plastic neutrality creates a unique competitive edge today.
  • Regulation is coming — early action positions companies ahead of the curve.

Going plastic neutral is not optional in the future — it is inevitable.

Benefits of CSR plastic credits for companies: plastic accountability in action

Any company that today engages with plastic neutrality or offsets the plastic waste footprint of their product or service, especially now when it is still done voluntarily and not yet an obligated responsibility for all companies in the industry, are able to benefit from this voluntary action in a massive way.

We believe, as shown by countless studies, that any company which today engages itself with plastic neutrality or offsetting the plastic waste footprint of their product or service can greatly benefit from these actions.

The CSR label is a way for companies to communicate their great work in the field of plastic neutrality.

A company that removes their entire plastic waste footprint for that specific year will be able to use the CSR plastic neutrality label on the packaging of their product or service.

As we have seen from countless studies, more than 80% of consumers who have participated say that they would like to use products and services from companies that are taking responsibility for their plastic waste.

This can be a massive and unique competitive edge, especially today when these actions are still voluntary and not yet obligated by law — which will soon be the case in every developed country around the world.

If your company is using plastic in the packaging of your products or services, make sure to engage with plastic neutrality now and reap the benefits that will result from doing so.

Going plastic neutral is the future.

🎥 Episode 24: CPRS: Corsair plastic waste removal standard
(1:41 minuter)

  • CPRS is an international standard created by Corsair together with Control Union.
  • Control Union is a globally established auditing firm with 100+ years of history and 270+ offices worldwide.
  • CPRS defines how plastic waste removal is audited and verified.
  • Verified plastic removal results in the issuance of CSR plastic credits.
  • For every 1 kilo of plastic waste removed, Corsair issues 10 CSR plastic credits.
  • CPRS follows strict international auditing protocols.
  • CPRS is positioned as the future standard for plastic waste removal.

CPRS: Corsair plastic waste removal standard

The CPRS, or the Corsair Plastic Waste Removal Standard, is an international standard that was created by Corsair together with an industrial auditing firm called Control Union.

Control Union is a company from the Netherlands with a history of more than 100 years and more than 270 offices around the world.

We are extremely proud of the work that we have done together with Control Union and how they have joined us in creating this global standard for auditing plastic waste removal from the environment, which results in the issuance of CSR plastic credits.

Following the international auditing protocols set within the CPRS standard, for each kilo of plastic waste collected from the environment by Corsair or one of our contributing partners, Corsair is now able to issue 10 CSR plastic credits into circulation.

The CPRS, the Corsair Plastic Waste Removal Standard, is the way of the future.

🎥 Episode 25: How CSR plastic credits differ from “tokens and other crypto projects”  (4:30 minuter)

  • CSR25 represents plastic removal work completed during the year 2025.
  • CSR plastic credits are issued per calendar year (CSR25, CSR26, CSR27…).
  • Credits are minted monthly based on actual, verified plastic removal.
  • All removal work is recorded, documented, and audited by Control Union.
  • 1 kilo of plastic removed = 10 CSR plastic credits.
  • Annual credits allow companies to comply with time- and location-specific regulations.
  • CSR credits are fully traceable to location and year of removal.
  • Future credits (CSR26, CSR27…) follow the same transparent system.

How CSR plastic credits differ from “tokens and other crypto projects”

CSR25 is a plastic credit focusing on the plastic removal work from the environment completed during the year 2025.

Corsair’s approach for the issuance of the CSR plastic credits is to have an annual credit such as the CSR25, which is specifically created from plastic removal work done anywhere in the world by Corsair or its contributing partners during the calendar year of 2025.

Why is this important?

Due to a number of new incoming regulations in more and more countries, companies are being required to take environmental action towards the plastic pollution that they have created during a specific time and at a specific geographical location.

CSR25 plastic credits are minted, meaning they are created, on a month-to-month basis based on the actual removal work of plastic waste from the environment.

Each time plastic is removed from landfills, oceans, communities, or collected through collaboration with other recycling companies that are part of the CSR plastic credit platform, this work is recorded, documented, and audited by an independent third-party auditor, our partners at Control Union.

Based on these audit reports, Corsair will issue an equivalent amount of CSR25 plastic credits based on the work that was completed.

The calculation method is very simple. Each 1 kilo of plastic waste removed from the environment allows Corsair to issue 10 CSR plastic credits into circulation.

In a similar way, starting from the year 2026, Corsair will begin to issue a new plastic credit called CSR26.

The entire process is then repeated. CSR26 will represent the plastic collection work done during the year 2026.

Future CSR27, CSR28, CSR29 and so on will represent the work done during those calendar years.

This allows companies that are required by existing or upcoming regulations to focus and pinpoint their offsetting work of plastic waste to a specific time and a specific geographical location, which can be identified with the CSR25 tokens.

In other words, the end user will be able to track the origin of a CSR25 credit and determine whether that credit was created based on plastic waste removal work at, for example, Corsair’s factory in Thailand, Corsair’s factory in Finland, or at any of the facilities of our contributing partners.

These are the additional benefits and technical advantages that CSR25, CSR26, CSR27 and future annual CSR credits provide on top of the basic functions found in the original CSR plastic credit.

🎥 Episode 26: Why CSR is operating on the blockchain?
(3:30 minuter)

  • CSR was developed and launched by Corsair in 2021.
  • CSR is a digital receipt proving verified plastic waste removal.
  • 1 kilo of plastic removed = 10 CSR plastic credits.
  • All removal work is documented, recorded, and independently audited.
  • CSR plastic credits operate on the Ethereum blockchain (ERC20).
  • Blockchain ensures full transparency and public accountability.
  • The system prevents double counting, a major issue in carbon markets.
  • Corsair’s retirement smart contract permanently removes credits from circulation.

Every transaction is traceable and visible in real time.

CSR is a plastic credit developed and launched by Corsair in the year 2021.

In its simplest form, CSR is a digital receipt that proves that plastic waste has been removed from the environment.

Each time Corsair or one of our contributing partners removes one kilo of plastic waste from the environment, this work is documented, recorded, and then audited by an independent third-party auditor. Based on these audit reports, Corsair issues 10 CSR plastic credits for each kilo of plastic waste recovered from the environment to guarantee credibility.

From day one, Corsair decided to use the single most transparent and publicly accountable database: the blockchain.

More specifically, since 2021 Corsair has been operating CSR plastic credits on the Ethereum blockchain, making CSR plastic credits ERC20 tokens.

By using blockchain technology, we are able to solve several accountability issues. One of these is double counting, a problem that has troubled the carbon credit industry for years.

With double counting, two end users could claim the same result, creating confusion and credibility issues.

By using blockchain and Corsair’s retirement process, there can only ever be one end user. This is the entity — a person or a company — that transfers the CSR plastic credit from their blockchain wallet into Corsair’s retirement wallet, a smart contract that permanently removes the CSR plastic credit from circulation.

Because of this retirement process and the smart contract developed by Corsair, there can only be one end user, and every single transaction of every CSR plastic credit is documented and visible in real time on the most transparent and publicly accountable database available: the blockchain.

🎥 Episode 27: CSR, blockchain and the retirement process
(3:42 minuter)

  • CSR plastic credit is a digital receipt proving verified plastic waste removal.
  • All removal work is recorded, documented, and independently audited.
  • CSR credits operate on the Ethereum blockchain (ERC20).
  • To offset plastic waste, end users must retire CSR plastic credits.
  • Retirement is done via a smart contract on the blockchain.
  • Retired credits are permanently removed from circulation.
  • Retirement is not token burning — transactions remain visible forever.
  • The process ensures one single, verifiable end user.
  • Only the retiring entity can generate the plastic waste removal certificate.

CSR plastic credit is a digital receipt which proves that plastic waste has been removed from the environment.

Every time Corsair or one of our contributing partners removes plastic waste from the environment — from the ocean, from landfills, or from some of the poorest communities around the world — this work is recorded, documented, and audited by an independent third-party auditor.

These plastic credits operate on the single most transparent database in the world, which is the blockchain — more specifically, the Ethereum blockchain — making the CSR plastic credit an ERC20 token.

What makes the CSR plastic credits unique is that the end user, either a private individual or a company, whether voluntarily or as required by regulations, who wants to offset a certain amount of plastic waste pollution from the environment, must retire an equivalent amount of CSR plastic credits.

The retirement process developed by Corsair works in the following way. The end user transfers, on the blockchain, a chosen amount of CSR plastic credit tokens from their blockchain wallet to a retirement wallet address.

This retirement process is a smart contract operating on the Ethereum blockchain which permanently removes the retired amount of plastic credits from circulation.

This should not be confused with burning tokens where tokens are permanently destroyed. Instead, tokens that are sent into the retirement wallet can never be retrieved back into circulation, while the transaction itself remains permanently recorded on the blockchain.

Because of this, there will never be any question about who the actual end user is — the person or company that can generate the plastic waste removal certificate from the system.

This certificate is a specific document proving that this company or individual is behind the actual removal of plastic waste from the environment. They alone are the entity that made the removal possible through the use of CSR plastic credits.

In its simplest form, this is how the CSR retirement process works.

🎥 Episode 28: The leading plastic credit in the world (2:00 minuter)

  • CSR is widely regarded as a leading plastic credit, but not the only one.
  • The plastic credit industry is growing rapidly worldwide.
  • CSR stands out by operating on the blockchain.
  • Blockchain enables full transparency, real-time accountability, and no double counting.
  • New regulations will drive strong future demand for plastic credits.
  • Plastic waste will increasingly be seen as a valuable raw material.
  • Every CSR credit represents real, verified plastic removal.

The leading plastic credit in the world

CSR plastic credit is widely considered to be the leading plastic credit in the world. Nevertheless, we are not the only plastic credit, nor are we the first plastic credit program in the world.

We are extremely happy to be part of an industry that is now developing and growing very fast around the world. In my opinion, there are today roughly half a dozen well-established plastic credit programs, and CSR plastic credit is one of them.

What makes the CSR plastic credit different from many other plastic credit programs is the fact that we operate on the blockchain. The blockchain provides us with maximum transparency, real-time public accountability, and the complete elimination of any possibility for double counting.

The plastic credit industry is expected to grow tremendously in the coming years, especially as new regulations are being introduced in Europe, the United States, and across the developed world.

At Corsair, we are extremely happy to be part of this revolution, where plastic waste will no longer be considered garbage in the future, but instead a valuable raw material.

We continue to do our very best to deliver verifiable, reliable, and real-time results based on actual plastic removal from the environment — which every single CSR plastic credit represents.

🎥 Episode 29: Solving the crisis by placing value on plastic waste
(2:38 minuter)

  • The fastest way to solve plastic pollution is to give plastic waste a monetary value.
  • Financial incentives drive collection and proper recycling.
  • Plastic credits are the key mechanism for monetizing plastic waste globally.
  • Future regulations will force polluters to participate in cleanup efforts.
  • A new circular economy is created where polluters pay cleaners.
  • Plastic credits connect companies that pollute with companies that remove waste.
  • Demand for plastic credits will grow rapidly across all programs.
  • Plastic waste will become a valuable raw material, like metal, glass, and paper.

Solving the crisis by placing value on plastic waste
The easiest way to solve the global plastic waste crisis is to put monetary value on plastic garbage.

Think about it. If all of this plastic waste that we see polluting our environment around the world would now have a monetary value, this would incentivize people and companies to go out and collect this plastic garbage and make sure that it is channeled into proper plastic recycling streams.

We believe that the future of plastic credits is extremely bright, and that plastic credits will be the key to monetizing plastic waste around the world.

When companies that create plastic pollution become legally obligated to also participate in cleaning the environment from this plastic waste, a completely new economy is created.

In other words, companies that create plastic pollution will have to pay companies like Corsair to go out and remove plastic waste from the environment.

The vehicle between the companies that pollute and the companies that clean is the plastic credit.

We see a massive future demand for the plastic credit industry — not only for CSR plastic credits specifically, but for all plastic credit programs.

By incentivizing plastic waste collection and plastic recycling, we will eventually reach a situation where plastic waste is no longer thrown away as discarded waste, but instead becomes a financially valuable raw material.

Just like we have done in the past with metal, glass, and paper, plastic waste in the future will be properly recycled — leading to a situation where an old plastic bag can be recycled into a brand new plastic bag.

 

🎥 Episode 30: Plastic credits are the future: a trillion dollar industry in the makin (2:55 minuter)

  • Plastic credits are the core solution to the global plastic waste crisis.
  • Companies will be legally required to offset the plastic they generate.
  • Plastic credits connect polluters with companies that remove plastic.
  • Within 20–30 years, plastic will be recycled like metal, glass, and paper.
  • A new trillion-dollar annual industry is emerging around plastic credits.
  • National regulations and UN-led frameworks will accelerate adoption.
  • CSR plastic credit is considered a leading plastic credit globally.
  • Corsair aims to secure 10% of the future global plastic credit market.
  • Market growth will drive value across the entire plastic credit industry.
  • Plastic credits represent a historic opportunity in a new global economy.

Plastic credits are the future: a trillion dollar industry in the making

Plastic credits truly are the solution for the global plastic waste crisis.

Companies that create plastic pollution are now becoming legally obligated to remove from the environment an equivalent amount of plastic waste that they generate each year, by paying companies like Corsair to remove the plastic from the environment.

The vehicle between these companies — the ones who pollute and the ones who clean — are the plastic credits.

I believe that in the next 20 to 30 years, plastic waste will become recycled around the world in exactly the same way as we are today recycling metal, glass, and paper.

As a result of this, a brand new trillion-dollar annual industry is going to be created around plastic credits.

We see a very strong future for the plastic credit market, with individual countries rolling out national requirements and institutions like the United Nations working on global plastic waste regulation.

The plastic credit market is set to grow tremendously in the coming years.

CSR plastic credit is today considered by many to be the leading plastic credit in the world.

Our target is to be able to secure a 10% market share of this future trillion-dollar annual market, which is based on plastic waste offsets where every single kilo of plastic waste sent out from production facilities will be legally obligated to also be offset from the environment.

This will lead to market development and market price growth of all plastic credits — not only the CSR plastic credit by Corsair, but the entire plastic credit industry.

If there ever has been a great moment to be involved in a brand new market, a brand new industry, and a brand new global economy, that moment is being developed right in front of our eyes with plastic credits.

🎥 Episode 31: Massive global potential (3:52 minuter)

  • Plastic pollution is a global problem affecting every country.

  • A new trillion-dollar industry is emerging.

  • Corsair is positioned at the center of this transformation.

  • Plastic waste will become a globally traded high-value commodity.

  • Timing and regulation align perfectly with Corsair’s growth.

  • CSR plastic credits are positioned for massive global expansion.

  • Corsair combines capitalism, environmentalism, and philanthropy.

  • Plastic removal creates opportunities for investors and for people in poverty.

  • Turning plastic garbage into gold represents both impact and opportunity.

Massive global potential

We are truly in a global business. There is not a single country in the world today that is not suffering from plastic waste pollution.

It is absolutely mind-blowing how many opportunities we at Corsair have for the expansion of our business. There is literally a new industry being developed in front of our very eyes that will become a trillion-dollar annual market.

Even better, we at Corsair are right in the epicenter of this massive change — this huge revolution — where plastic garbage will no longer be considered waste, but instead become a globally traded, high-value commodity.

Very few times in someone’s lifetime does such an opportunity present itself. When we consider the timing of our business alongside the regulations currently being developed and implemented around the world, we could not be in a better position in terms of timing.

Timing plays an extremely important role in every business. Corsair, our CSR plastic credit program, and everything we are doing right now is perfectly aligned and positioned for massive global expansion.

Corsair is aiming to become — or remain — one of the largest companies in this field in the world. But most importantly, we want to deliver a global solution to plastic waste.

This makes our business model unique. At Corsair, we combine capitalism, environmentalism, and philanthropy in a beautiful and unique way.

When we go out and start cleaning plastic waste from the environment, we create opportunities on many different levels — not only for investors, business partners, clients, and collaborating companies — but also for the people who truly need our help.

Many of the people we encounter live in extreme poverty. Through our work, we are able to create new opportunities for them as plastic waste is transformed into a valuable raw material.

These are just some of the elements we at Corsair are extremely passionate about. And we are even more excited that you have the opportunity to join us on this mission — to be part of this journey as we turn plastic garbage into gold.

🎥 Episode 32: Corsair vs other chemical recyclers (9:08 minuter)

  • Early pyrolysis companies focused on large single-reactor projects.

  • Many received large funding but struggled to become operational.

  • Corsair chose a modular reactor strategy instead.

  • Modular design reduces operational risk and downtime.

  • Expansion can happen organically by adding more units.

  • Starting in Thailand reduced operational costs significantly.

  • Limited funding forced a practical, proven approach.

  • Modular strategy has proven more resilient than large-scale single builds.

  • Corsair reached true industrial-scale operations.

  • Today, Corsair is positioned as one of the fastest-growing companies in advanced plastic recycling.

Corsair vs other chemical recyclers

Plastic waste pyrolysis first started to become noticeable around 2018. At that time, a few companies — primarily from Europe — began gaining traction in their project development and attracting media attention. Several originated from Norway, the Netherlands, and other parts of Europe.

Keeping in mind that Corsair launched its operations in 2020, there were already companies that had been working in this field for several years.

One of the main differences between Corsair and many of these companies was their approach to scale. Most chose to build very large machines, structuring their projects around one or two massive reactors.

These companies were initially in a fortunate position because regulations discussed — and later introduced by the European Union in 2021 — created urgent demand among plastic manufacturers and petrochemical companies for suppliers of pyrolysis oil.

This led to strong investor interest and significant funding, often tens of millions of euros, particularly for European projects developing plastic waste recycling facilities.

However, as of 2025, many of these companies are still struggling to become operational. Several have failed to reach production, exhausting their budgets before being able to sell oil. Others have gone bankrupt after years of development without achieving stable operations.

When Corsair launched in Thailand in 2020, we did not have access to such large financing. We simply could not pursue reactors costing tens of millions of euros.

Instead, Corsair identified a manufacturer of modular plastic waste pyrolysis reactors in China. After intensive research and validation, the technology proved capable of delivering the promised performance.

We chose a modular strategy. Our plan was to build facilities with up to ten smaller reactors per site. Many industry “experts” considered this approach unorthodox or even unrealistic.

But from a common-sense perspective, the modular approach has clear advantages. If a facility operates a single large machine and that machine encounters problems, the entire operation stops.

In contrast, with ten modular reactors, if one unit experiences downtime, the remaining nine continue operating.

Another advantage is organic expansion. Instead of investing tens of millions of euros in a new large machine to increase capacity, we can simply add additional modular units as needed.

Looking back since 2020, results have validated this strategy. Many large single-reactor projects are still not operational, while some have gone bankrupt or face ongoing technical challenges.

Corsair’s path was different. You could say we were fortunate — because we did not have large funding, we were forced to choose accessible and proven technology rather than follow the mainstream approach.

Another key success factor was starting operations in Thailand. Operational and labor costs in Thailand are significantly lower than in Europe or North America. This allowed our limited funding — raised from our first private equity investors — to stretch much further.

These combined factors enabled Corsair to become one of the first companies in the world to reach true industrial-scale plastic waste pyrolysis operations, meet petrochemical quality standards, and today become the fastest-growing company in advanced plastic recycling.