OSLO, Norway – February 29, 2024 – Agilyx ASA (OSE: AGLX; OTCQX: AGXXF) (“Agilyx” or “the company”), a technology company that enables customers to recycle the most challenging post-use plastics to high value, virgin-equivalent products, announced today that it has reached an agreement with Americas Styrenics (AmSty), its joint venture partner, to close Regenyx after successfully achieving the objectives defined in its five year formation agreement.
Regenyx, located in Tigard, Oregon (US), is a 50/50 joint venture between AmSty and Agilyx. The company converts post-use polystyrene back into its original components for production under AmSty’s PolyRenew® label. Regenyx showcases Agilyx depolymerization technology and enables AmSty to produce new polystyrene that is used to make products with the same quality and durability as virgin plastic. Over the course of the five-year project, Regenyx diverted over 6 million pounds of post-use polystyrene waste from landfills.
“Because of Regenyx, the new circular plastics economy now has a place for polystyrene, and this essential material that improves people’s lives has even more potential for growth,” said Tim Barnette, AmSty vice president of polymers and sustainability. “AmSty is proud to have been part of this long-term project that proves advanced recycling of polystyrene is not only feasible, it is the future.”
“We are very proud of our team and our company for the important work we’ve done over the past five years in Tigard,” said Russ Main, interim CEO of Agilyx. “Building this first-of-its-kind circular recycling model for polystyrene in the US opened the door for Agilyx to progress additional commercial projects, such as the Toyo Styrene plant in Japan which is nearing completion of commissioning and will showcase the latest generation of Agilyx technology.”
The Regenyx venture achieved many milestones including establishment of ISCC PLUS certification for the demonstrated circular pathway. The venture also allowed both parent companies to develop and progress additional projects and pathways at larger scale. Having successfully delivered its defined project objectives, Agilyx and AmSty will decommission the Regenyx venture at the end of the five-year agreement. The plant will cease operations by April 30, 2024, alongside the wind down of the venture.
For media inquiries:
Melanie Burger
Director, Corporate Communications
communications@agilyx.com
For investor inquiries:
Louise Bryant
SVP, Investor Relations & Sustainability
+44 7813 210 809
investors@agilyx.com
ABOUT AGILYX
Agilyx ASA is a technology company that enables customers to recycle difficult-to-recycle post-use plastics to high value, virgin-equivalent products. With a focus on diversion and conversion of plastic waste, Agilyx is uniquely positioned with a chemical recycling technology offering and an integrated feedstock solution by way of Cyclyx, an innovative feedstock management consortium of partners that drives up global plastic recycling rates by chemically fingerprinting plastic waste and matching it to appropriate recycling processes. Agilyx was the first to establish a commercial scale waste polystyrene chemical recycling facility via pyrolysis enabling closed loop polystyrene plastic-to-plastic and holds 20 patents. Agilyx conversion technology utilizes pyrolysis without a catalyst and can convert mixed waste plastic to naphtha and fuels or depolymerize specific plastics such as polystyrene and PMMA (acrylic) back into virgin-quality products. Learn more at www.agilyx.com or follow us on Linkedin.