KERAX AND CLARITER PARTNER TO LEAD THE WAX INDUSTRY TOWARDS SUSTAINABILITY
On December 29, 2021, Kerax, the UK’s foremost expert in wax blending and manufacturing, and Clariter, an international clean-tech innovator, signed a strategic investment and cooperation agreement. Kerax will support the continued development of Clariter’s chemical upcycling technology that transforms mixed plastic waste into high-quality waxes, oils and solvents used as ingredients for over a thousand applications in various industries. With this agreement, Kerax joins Clariter’s growing circle of strategic investment, R&D, and sales partners.
Kerax’s investment in Clariter and cooperation commitment demonstrates a forward-looking approach that takes sustainable and environmentally friendly growth as a priority.
Kerax is the UK’s largest manufacturer and blender of waxes, in operation since 1962. The manufacturing facility at Chorley processes 30,000MT annually and serves customers on five continents. Kerax adds value by collaborating closely with customers, delivering tailored solutions based on customer’s unique requirements. Deep sector knowledge, supported by an in-house team of research and development chemists provides creativity to support customer needs. Kerax is committed to a sustainable future and a circular economy, offering renewable or recycled alternatives for all hydrocarbon-based products.
Founded in 2003, Clariter has created a revolutionary chemical upcycling process that provides a large-scale solution for two of the worlds’ problems: plastic waste and the dependency on crude. Rather than recycling plastic waste into intermediates which require further processing, Clariter’s technology transforms the majority of plastic waste streams, even those with the lowest value into high-value, pure and ready-to-use industrial products. The company’s advanced green petrochemicals meet FDA standards and the benchmarks of petrochemical equivalents. The footprint Clariter’s process is net carbon negative, as well as preferable to landfill, incineration, and other pyrolysis-based solutions.
Headquartered in Luxembourg and operating in Israel, the Netherlands, Poland and South Africa, Clariter not only contributes to the effective cleaning of the planet, but also creates highly profitable business opportunities.
Kerax and Clariter intend to cooperate on the research and development of new products, applications, and manufacturing that reduce the dependence on crude oil-based alternatives.
Kerax shall operate as a non-exclusive off-taker and distributer of Clariter products.
Ian Appleton, CEO at Kerax said: “We’re incredibly excited to be participating in the latest Clariter fundraise. Clariter’s innovative method of converting waste streams into advanced materials provides a unique supply of high-quality products. Kerax and Clariter will work closely together to increase the distribution of Clariter products and develop new products for existing applications. We look forward to working closely with Ran and his team to create a more sustainable planet”.
Clariter’s Founder and CEO, Ran Sharon, added: “Since our upcycling technology utilizes plastic waste as a feedstock for green petrochemicals, we address a key global issue. Processes and products that are green and more circular have a meaningful role to play in the global trend towards sustainability and ultimately a net-zero carbon future. We believe that Kerax joining our strategy is a win-win for both companies”.
“Part of Clariter’s strategy is to welcome partners like Kerax, to develop cooperation on many levels from off-take agreements to creating applications and products together. We found in Kerax the blend, we like, between science, passion, innovation and commitment for sustainable future”.
Clariter works with REYL Intesa Sanpaolo and RSF Capital Partners LLP as its financial advisors.