Lootah Biofuels and Ambiance Core to pioneer round economic system in tourism sector in Maldives.
Lootah Biofuels, a number one round economic system firm producing biofuel from cooking oil within the UAE, has entered right into a strategic partnership with Ambiance Core, one of many largest hospitality firms within the Maldives with 8 resorts inside 3 way of life manufacturers, to affix forces in defending the atmosphere and selling sustainable tourism.
The Memorandum of Understanding (MoU) was signed by Yousif bin Saeed Lootah, founder and CEO of Lootah Biofuels, and Mr. Ismail Hilmy, Chairman of Ambiance Core Pvt Ltd of the Maldives, at Dubai Enterprise Discussion board organized by Dubai Chamber of Commerce on November 2nd, 2023.
This joint effort is underpinned by a shared dedication to decreasing waste, recycling assets and selling the rules of a round economic system, with the final word aim of leaving a more healthy planet for future generations. The MoU additionally expands Lootah Biofuels’ worldwide footprint and can contribute to the Maldives Clear Vitality Initiative, the Maldives Marine Protected Areas Initiative and the Maldives Sustainable Tourism Initiative.
Beneath the MoU, each events will work in the direction of fostering a round economic system within the Maldives and introduce environmentally pleasant biofuel, produced by Lootah Biofuels, at resorts managed by Ambiance Core, considerably decreasing the operational carbon footprint whereas contributing to constructing a sustainable tourism business within the Maldives.
One other elementary aspect is to discover the feasibility of amassing and recycling used cooking oil from resorts, inns and households within the Maldives by way of Lootah Biofuels’ pilot biofuel plant within the Maldives.
The partnerships won’t solely create employment alternatives but additionally help in decreasing the nation’s dependence on conventional fossil fuels, which aligns with the Maldives’ dedication to environmental sustainability and the formidable aim of carbon neutrality by 2050.
Yousif bin Saeed Lootah mentioned:
Our partnership with Ambiance Core is a vital step in the direction of a extra sustainable and round tourism business.
“The pristine ocean across the Maldives isn’t just a picturesque backdrop; it performs a key function in driving the nation’s economic system, which is dependent upon fisheries and tourism. It’s a privilege for us to work with Ambiance Core and the federal government of the Maldives to construct a round power ecosystem. This MoU will even advance our present partnership with FENAKA Company by offering substantial biomass for producing biofuel domestically.”
Mr. Ismail Hilmy, emphasised the significance of this partnership, stating:
At Ambiance Core, we’ve all the time cared deeply about preserving the atmosphere whereas providing our friends a world-class vacation expertise.
“This partnership permits us to additional elevate our dedication to environmental accountability, making certain that friends can benefit from the pure great thing about the Maldives with out harming it. We’re decided to set an instance for the whole business, illustrating that environmental safety and financial development can go hand in hand.”
Earlier this 12 months, Lootah Biofuels signed an settlement with FENAKA Company Restricted, the state-owned utility firm offering electrical energy, water, and sewerage to island communities within the Maldives, to ascertain its first biofuel manufacturing plant from waste cooking oil exterior the UAE.
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Lootah Biofuels and Ambiance Core to pioneer round economic system in tourism sector in Maldives, November 7, 2023
