PORTLAND, Oregon, USA – January 11, 2022 – Agilyx, (Euronext Growth Oslo: AGLX.OL; OTCQX: AGXXF) a technology company that enables customers to recycle the most challenging post-use plastics to high value, virgin-equivalent products and Toyo Styrene Co., LTD (“Toyo Styrene”), an affiliate of Denka Company Limited, Nippon Steel Chemical & Material Co., Ltd. and Daicel Co., Ltd., announced today they are entering into the construction phase of a 10 ton per day chemical recycling facility in Japan, enabled by Agilyx depolymerization technology.
The recycling plant will convert post-use polystyrene into a styrene monomer that will be purified using Toyo Styrene’s proprietary purification process. Styrene monomer produced from this process can then be converted back into high value polystyrene products which bear a significantly lower carbon footprint than similar products made with virgin monomer.
“As the first step toward the circular economy, we will construct a chemical recycling plant for this project, collect post-industrial materials for the time being, and start a chemical recycling business.” said Sanshiro Matsushita, President of Toyo Styrene. “Furthermore, in order to build a carbon free society through chemical recycling in Japan, we are also planning to participate in a platform that integrates citizens, businesses, and local government, which is being undertaken by Ichihara City, Chiba Prefecture.”
“The decision to move into the final stages of this project is a big accomplishment for the members of Agilyx and Toyo Styrene who have worked tirelessly to bring us to this point,” stated Tim Stedman, CEO of Agilyx. “We are very proud of their efforts and excited for the opportunity to bring our proven advanced recycling technology into the Asian markets to help improve the availability of recycled plastic content and increase global plastic recycling through circular pathways.”
Contacts
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
Toyo Styrene
Hiroshi Higuchi, Executive Officer, the office manager, environmental measures promotion office, Toyo Styrene Co.,Ltd.
+81-3-3519-5602
h-higuchi@toyo-st.co.jp
About Agilyx
Agilyx 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 molecular 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 closed loop plastic-to-plastic chemical recycling facility and holds over 17 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.
About Toyo Styrene
Toyo Styrene was established in April 1999 as a company of consolidated polystyrene business carved out from Denki Kagaku Kogyo Kabushiki Kaisha (Current: Denka Co., Ltd.), Nippon Steel Chemical Co., Ltd. (Current:NIPPON STEEL Chemical & Material Co., Ltd.),and Daicel Chemical Co.(Current:Daicel Corporation). Since then, Toyo Styrene has been developing constantly the new high performance grade for answering the needs of customers such asEX7, HMT1, GA, Eneryts and FR-PS as well. For more information, follow us on social media and visit us at www.toyo-st.co.jp.
Full production scale trial successfully proves technology for depolymerizing acrylic
TEESSIDE, England and OSLO, Norway, December 8, 2021 – Mitsubishi Chemical Methacrylates (MCM) and partner, Agilyx Corporation (OSE: AGLX), a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): “AGLX”) and a pioneer in the chemical recycling of post-use plastics, announced today the successful results of a full-scale production trial for polymethyl methacrylate (PMMA; commonly called acrylic) depolymerization at Agilyx’s facility in Tigard, Oregon.
The full-scale trial, conducted in August 2021, returned results consistent with the successful results of a laboratory-scale trial conducted in 2020. A mixed feedstock included both cast and extruded PMMA sheet, and the effects of different temperature settings were analysed to find the optimal conditions for PMMA pyrolysis.
Following the successful plant trial, experts from MCM and Agilyx met to build an action plan that sets out the required next steps.
“The results at full production scale are very encouraging,” said David Smith, circular economy programme lead, Mitsubishi Chemical Methacrylates. “The teams at both MCM and Agilyx worked very well together, and all parties are excited at the prospect of building a new PMMA depolymerization plant using Agilyx technology.”
“The results of our PMMA trials in Tigard have been very positive,” stated Carsten Larsen, CCO of Agilyx. “We’ve proven that Agilyx technology is capable of turning PMMA back into its original monomer, MMA, creating a truly circular material. We’re excited to continue our collaboration with Mitsubishi Chemical Methacrylates.”
The crude MMA produced during the plant trial is currently being distilled at MCM’s pilot plant in Wilton, England and will be used both for internal product development and to validate the purification solution that will be used in this process.
For further information, contact:
Scott Neal – Communications Specialist, Mitsubishi Chemical Methacrylates
Tel: +44 (0)1642 735066
scott.neal@m-chem.com
David Smith – Circular Economy Programme Lead, Mitsubishi Chemical Methacrylates
Tel: +44 (0)7885 239742
david.smith@m-chem.com
Kate Ringier – VP, Communications and Government Affairs, Agilyx
Tel: + 41 43 883 0396
kate.ringier@agilyx.com
About Mitsubishi Chemical Methacrylates
Mitsubishi Chemical Methacrylates (MCM) is the global Methacrylates Division of Mitsubishi Chemical and the world’s largest producer of methyl-methacrylate (MMA). With manufacturing sites, sales offices and distribution networks throughout Asia, the Americas and Europe, MCM creates products that improve the quality of life around the world, every single day. Learn more at www.mcc-methacrylates.com.
About Agilyx Corporation
Agilyx (AGLX) is an early leader in the advanced recycling of difficult-to-recycle post-use plastics. With Agilyx’s chemical recycling technology, mixed plastic waste or streams of discrete post-use plastics, such as polystyrene, can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company, Cyclyx International, LLC, and is partnering with a range of waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop recycling solutions for mixed waste plastics. www.agilyx.com.
Circular recycling company, Regenyx, confirmed today that it has transitioned to 100% renewable energy at its facility in Tigard, Oregon. The company is a joint venture between Agilyx Corporation (AGLX), a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): “AGLX”) and pioneer in the advanced recycling of post-use plastics, and AmSty, the largest polystyrene producer in the Americas. Joining together to form Regenyx in 2019, these companies are considered frontrunners in circular recycling for polystyrene and aim to lead future companies in choosing renewable energy.
Through enrollment in the Green Future Enterprise program with Portland General Electric (PGE), Regenyx will receive 100% of its electricity from wind sources. Using solely renewable energy sources supports a transition to a low-carbon economy, which is in line with Agilyx sustainability goals to mitigate climate-related impacts of its operations and disclosing the environmental footprint and energy efficiency of its circular recycling processes.
“Agilyx is using chemical recycling technology to help solve the problem of plastic waste in an effort to create a more sustainable, circular economy for plastics,” said Tim Stedman, CEO of Agilyx. “Using electricity derived from non-renewable resources to power that technology would be counter-intuitive. That’s why we are so pleased to announce that all of the electricity in Tigard will now come from renewable wind energy.”
Vice President of Polymers and Sustainability at AmSty, Tim Barnette, said, “AmSty and Agilyx are working diligently to make circular recycling as efficient and carbon-neutral as possible. We are optimistic that the move to wind-powered electricity will put us farther down that path and we’re grateful to have this source available.”
Contacts
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
Josh Want
Communications Manager
AmSty
Phone: +1 844-512-1212
Website: www.amsty.com
About Agilyx
Agilyx (AGLX) is an early leader in the advanced recycling of difficult-to-recycle post-use plastics. With Agilyx’s chemical recycling technology, mixed plastic waste or streams of discrete post-use plastics, such as polystyrene, can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company, Cyclyx International, LLC, and is partnering with a range of waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop recycling solutions for mixed waste plastics. www.agilyx.com.
About AmSty
AmSty is a leading integrated producer of polystyrene and styrene monomer, offering solutions and services to customers in a variety of global markets. AmSty is a member of the American Chemistry
Council and its Responsible Care initiative, and is headquartered in The Woodlands, Texas. AmSty is a joint venture equally owned by Chevron Phillips Chemical Company LP and Trinseo LLC.
Agilyx Corporation
Standard Terms & Conditions of Purchase
This purchase order constitutes an offer by Agilyx Corporation (“Buyer”) to the supplier to whom this purchase order is issued (“Seller”) to purchase the articles, materials, services or equipment covered by this purchase order (the “Product”) exclusively upon the terms and conditions of purchase set forth below (or incorporated herein by reference) and shall become a binding contract including such terms and conditions upon either issuance of an order acknowledgement hereof by Seller or substantial performance hereunder by Seller (the “Agreement”). No contrary or additional terms or conditions of sale proposed by Seller will be accepted by Buyer and any such proposed contrary or additional terms are to be construed as proposals for addition to this Agreement which are hereby rejected unless otherwise indicated in a written instrument executed by an authorized officer of Buyer making specific reference to this purchase order and the specific contrary or additional term proposed by Seller. Seller’s performance pursuant to this order shall be deemed unqualified acceptance of these terms and conditions of purchase set forth below.
1. Price
The price for the Product sold hereunder shall not be higher than that appearing on the face of this purchase order, or if no price appears thereon, then not higher than the last price quoted by Seller. Seller covenants that if it should at any time prior to the delivery of the Products covered hereby sell like articles, materials, services or equipment in similar quantities to any third party at lower prices, it will notify Buyer in writing of such lower prices and Buyer will receive the full benefit of such lower prices from the date of such sale to any third party.
2. Warranty
All Products sold and delivered to Buyer hereunder shall be in full conformity with Buyer’s specifications set forth or referred to on the face hereof or if none are set forth or referred to, shall be in conformity with Seller’s published specifications and samples provided to Buyer. All Products sold and delivered to Buyer will be new, fit and sufficient for the use intended by Buyer and will be merchantable and of good quality and workmanship and free from defects. The foregoing warranty shall survive any acceptance of the Products by Buyer and shall be in addition to any warranty expressly furnished or represented to Buyer by Seller. Seller will defend, indemnify and hold harmless Buyer and its customers from and against any and all costs (including reasonable attorneys’ fee and experts’ fees incurred), expenses, damages, losses, liabilities, penalties, judgments attributable to any Product delivered hereunder that fails to conform to the warranty set forth herein or which is otherwise implied by applicable law.
3. Packing and Shipping
Products shall be packed and labeled (at no additional charge) in accordance with good commercial practice and all applicable federal, state, and local laws, regulations, and orders (a) to insure against personal injury or harm, and against damage from weather, handling, and transportation, and (b) to permit efficient handling and secure lowest transportation charges. All damages resulting from improper packaging to items or otherwise shall be paid by Seller.
4. Inspection
All Products delivered hereunder shall be subject to final inspection and acceptance by Buyer at its facility notwithstanding prior payment or inspection at Seller’s facility. Acceptance of any Products shall not alter or affect the warranties of Seller referenced above. Buyer may, at its option, either hold rejected Products for Seller’s instructions and at Seller’s risk, or return them to Seller at Seller’s expense and require their correction, and Seller shall promptly reimburse Buyer for any and all damages sustained by Buyer as a result of failure of Products to conform to the provisions and specifications set forth in this purchase order.
5. Cancellation
Buyer reserves the right to cancel this order or any part thereof, or terminate this Agreement, and Buyer’s sole responsibility to Seller shall be to pay the agreed price for such Products as have been delivered as of the time such cancellation is effective and to reimburse to Seller its actual costs of materials and direct labor expended by it in reasonable anticipation of its fulfillment of this Agreement which are not recoverable by Seller, provided that no allowance shall be made to Seller for any overhead or anticipated profit for undelivered Product, Buyer’s maximum liability on account thereof shall be agreed price for the Products as set forth in paragraph 1 above, and Seller shall deliver to Buyer any inventory paid for by Buyer under this paragraph 5.
6. Time and Delivery
Because Buyer’s business and operations are in part dependent on receipt of the Products that are the subject of this Agreement, timely delivery of the Products is essential to the performance of Seller’s obligations hereunder. Unless otherwise specified on the face of this purchase order, terms of the delivery of the Products are F.O.B. destination with freight prepaid. Deliveries shall be made at the times and of the quantities specified on the face of this purchase order, and Seller shall not, without the written consent of Buyer, make shipment in advance of such schedule. Buyer may order expedited routing in place of scheduled routing, if necessary to meet schedule or recover time lost by any delay, in which event any excess transportation costs shall be paid by Seller. Buyer may postpone delivery of any Products covered hereby. Overshipments may be returned by Buyer at Seller’s expense or retained by Buyer at no increase in price. Seller shall not make any commitment of production arrangements in excess of the amounts, or in advance of the time, necessary to meet Buyer’s delivery schedule for Products.
7. Modifications
Buyer shall have the right at any time to make changes in drawings, designs, specifications, materials, quantities, packaging, time and place of delivery and method of transportation. If any such change causes an increase or decrease in the cost or the time required for performance, an equitable adjustment shall be made and this Agreement shall be modified in writing accordingly. Seller agrees to accept any such changes subject to this paragraph and proceed without delay to perform the order as changed. Unless Seller presents to Buyer an itemized claim within thirty (30) days after the receipt of notice of such change, Seller shall be conclusively deemed to have waived all claims against Buyer with respect thereto.
8. Excusable Failure or Delay
Neither Buyer not Seller shall be held responsible for the failure or delay in delivery or acceptance of Products where such failure or delay is attributable to any act of God or of the public enemy, war, compliance with laws, civil commotion, governmental acts or regulations, in any case, not in effect as of the date of this purchase order, fire, flood, quarantine, embargo, epidemic, unusually severe weather or other cases similar to the foregoing beyond the reasonable control of the party so affected. The party seeking to avail itself of any of the foregoing excuses must promptly notify the other party of the reasons for the failure in delivery or acceptance and shall exert its best efforts to avoid further delay.
9. Intellectual Property Warranty and Indemnity
Seller warrants that the Products delivered to Buyer hereunder, and the use of the Products for their normal purposes, will be free from any claims of infringement of patent, design, copyright, trademark, service mark, trade secret or any other intellectual property right of any other party. If any third party asserts any such claim or allegation against Buyer of its customers, Seller shall defend, indemnify and hold harmless Buyer and its customers from and against any and all costs (including reasonable attorneys’ and experts’ fees incurred), expenses, losses, damages, liabilities, penalties, or judgments relating to such claim or allegation.
10. Assignment of Work Product to Buyer
All work product developed by Seller in connection with its performance under this Agreement, including (but not limited to) computer files, concepts, ideas, designs, discoveries, drawings, inventions, models, plans, programming, schedules, specifications, technical documentation, software or source code (“Work Product”) is Buyer’s property and all right, title and interest, including (without limitation) copyright interest, shall belong exclusively to Buyer and shall be assigned to Buyer accordingly. Seller is not permitted to retain copies of such Work Product and shall deliver all Work Product to Buyer with the Products ordered hereunder. Seller shall not photograph or otherwise visually document any Work Product except for archival purposes. This Agreement transfers all right, title or interest, including (without limitation) copyright and patent, that Seller may otherwise have in such Work Product to Buyer. Seller will at Buyer’s request execute and deliver such documents as in Buyer’s opinion may be necessary, proper, appropriate, convenient or expedient to protect, register, enforce or evidence further Buyer’s ownership of such Work Product. Seller warrants and represents that any tangible Work Product developed by it pursuant to this purchase order will be either original to Seller, in the public domain, or obtained by Seller with the written consent of the owner thereof to use such other work or intellectual property in or to develop the Work Product.
11. Indemnity for Injury to Persons or Property
Seller will defend, indemnify and hold harmless Buyer and its officers, directors, employees, and affiliates from and against any and all costs (including reasonable attorneys’ and experts’ fees incurred), expenses, damages, liabilities, penalties, personal injuries or judgments suffered or incurred by any individual or to any real or personal property attributable to the Products, their use or to Seller’s actions or omissions.
12. Confidentiality
All data and other information obtained by Seller from Buyer in connection with this purchase order, and any Work Product to be delivered to Buyer hereunder, shall be held in strict confidence by Seller and used solely for the purposes originally intended in connection with the purchase order. Seller shall treat such data, information and Work Product with the same degree of confidence that it uses to protect its own proprietary or confidential information (but not less than a reasonable standard of care) and shall ensure that each of its employees to whom such data, information or Work Product is known is bound to maintain the confidentiality of such data, information or Work Product by separate agreement with Seller or by operation of law.
13. Compliance with Laws and Buyer’s Zero Tolerance Harassment Policy
In performing its obligations hereunder, Seller shall comply with the Occupational Safety and Health Act, the Fair Labor Standards Act, and all other applicable federal, state, municipal, or local laws, rules, regulations, orders, decisions or permits of any relevant jurisdiction relating to employment, safety, health and environmental compliance. Buyer has a zero tolerance policy prohibiting harassment of any kind in or about its premises. Seller also agrees to make such reports to Buyer as may be required, including certification of affirmative action. Any violation by Seller, its agents, employees, representatives or subcontractors of any of the foregoing shall be deemed a breach of Seller’s obligations hereunder and Buyer may cancel this purchase order or Agreement (without penalty and without any payment otherwise payable to Seller pursuant to paragraph 5) at any time thereafter. Seller will defend, indemnify, and hold harmless Buyer from and against any and all costs (including reasonable attorneys’ and experts’ fees incurred), expenses, damages, liabilities, penalties, or judgments relating to any breach by Seller, its agents, employees, representatives, or subcontractors of it obligations hereunder.
14. Insurance
During the term of this Agreement and for a period of at least one year after completion of Seller’s obligations pursuant hereunder, Seller will maintain the following levels of insurance coverage with a reputable and financially sound insurance carrier: (a) workers’ compensation insurance as required by applicable law; (b) employer’s liability insurance with limits not less than USD $1 million; (c) Commercial General Liability with a minimum combined single limit of USD $2 million per occurrence; and (d) Excess Liability insurance with limits no less than USD $5 million. Seller will provide Buyer with an insurance certificate from its insurance carriers for each of the required foregoing insurance coverages, and naming Buyer as an additional insured for Commercial General Liability and Excess Liability insurance. Seller shall require each of its subcontractors (regardless of tier), if any, to carry insurance in accordance with all of the above terms set forth in the preceding sentences.
15. Software Warranty
If licensing or providing software or a computerized system to Buyer hereunder, whether or not embedded within a system or otherwise, Seller warrants that such software or computerized system will operate without interruption notwithstanding any change in dates, passing of calendar years, leap years, or otherwise. If such software or computerized system should fail on account of the foregoing, Seller shall immediately repair or patch the software or computerized system and defend, indemnify and hold harmless Buyer from and against any and all costs (including reasonable attorneys’ and experts’ fees incurred), expenses, losses, damages, liabilities, penalties, or judgments attributable to the failure of such software or computerized system.
16. No Assignment
Neither this purchase order, the Agreement, nor any right or obligation of Seller hereunder may be assigned or delegated by Seller, by contract, merger, operation of law, or otherwise, to any other party without the prior consent of Buyer which may be granted at Buyer’s sole discretion. Seller is not permitted to engage subcontractors in connection with the performance of its obligations to Buyer hereunder without the prior written consent of Buyer.
17. Independent Contractor
Nothing in this purchase order or Agreement is intended to, or does, create any employee, joint venture, partnership, agency or similar relationship between Buyer and Seller, other than a buyer and seller relationship. Seller shall not be, and it is not authorized to represent itself as, an agent or representative of Buyer for any purposes.
18. Waiver
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19. No Change Order
No change, modification or extension of this purchase order or Agreement shall be effective against Buyer or Seller unless it is made in writing making specific reference to this purchase order and is signed by an authorized representative of Buyer and Seller.
20. Governing Law
This Agreement shall be governed exclusively by the laws of the State of Washington without regard to its conflicts of laws principles that would have a contrary result. Any dispute, claim, or controversy between Buyer and Seller related to this Agreement that cannot be resolved through good faith negotiations shall be finally venued in the Washington State Supreme Court situated in Olympia, Washington or US Federal District Court of the Western District of Washington.
21. Site Rules
If Seller performs any services for Buyer on Buyer’s premises (‘Site”), its employees, and it subcontractors (regardless of tier) shall comply with and observe all directions, rules, and regulations of Buyer relating to conduct while on Buyer’s Site. These directions, rules, and regulations (“Rules”) include, but are not limited to the following: safety and health, fire prevention, environmental, housekeeping, maintenance and protection of the Site, delivery and storage of materials, ingress and egress to the premises, parking, employee conduct, and public relations.
22. Deductions Against Seller’s Invoices
Buyer obligations under this Agreement shall be subject to deduction of any valid claim of Buyer against Seller arising from this or any other transaction. Seller shall be deemed to acknowledge the validity of any claim of Buyer against Seller, if Seller does not notify Buyer that it disputes such claim and specifies with some particularity its reasons therefor within thirty (30) days from the date it receives notice or knowledge thereof.
23. Severability
If any provision of this Agreement shall be deemed invalid or unenforceable, this Agreement shall be construed as though such provision does not appear herein and shall be otherwise fully enforceable.
24. Notices
All notices, consents, demands and other communications with respect hereto shall be in writing and sent first class mail, postage prepaid, addressed as indicated on the face of the Agreement.
Last modified: October 20, 2021
TIGARD, Oregon, USA – September 13, 2021 – Agilyx Corporation (AGLX), a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): “AGLX”) and a pioneer in the chemical recycling of post-use plastics has been granted a patent continuation for its process of breaking down waste polystyrene into its chemical building block, styrene monomer. The continuation of US patent number 11,041,123 further confirms Agilyx’s depolymerization technology extends to the breaking down of all waste plastic polymers into their respective discrete monomers and is not only limited to polystyrene. This patent demonstrates the versatility of Agilyx’s innovation portfolio while continuing to advance its position as a leader in the depolymerization of waste plastics.
“This patent continuation demonstrates the robustness and versatility of the Agilyx technology, not restricting our claims to polystyrene to styrene monomer; thereby, expanding our patent coverage to depolymerization of polymers back to the monomer level, enabling greater circularity for more plastics,” stated Dr. Chris Faulkner, CTO at Agilyx. “Essentially, our process has not changed. We are using the same technology on the same machinery, though it may be operated in a slightly different way depending on the polymer. The recognition that this technology applies to a broader range of polymers is an exciting advancement in our mission to increase recycling and circularity of post-use plastics.”
Contacts
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
About Agilyx
Agilyx (AGLX) is an early leader in the advanced recycling of difficult-to-recycle post-use plastics. With Agilyx’s chemical recycling technology, mixed plastic waste or streams of discrete post-use plastics, such as polystyrene, can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company, Cyclyx International, LLC, and is partnering with a range of waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop recycling solutions for mixed waste plastics. www.agilyx.com.
TIGARD, Oregon, USA – August 26, 2021 – Agilyx Corporation (Agilyx), a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): “AGLX”) and a pioneer in the advanced recycling of post-use plastics, announced today that Carsten Larsen has been appointed chief commercial officer and senior vice president of Business Development for Agilyx, effective September 1, 2021, replacing Bill Cooper who has joined Cyclyx LLC as senior vice president of Strategic Relationships.
Mr. Larsen will be responsible for driving global growth through the acquisition of customers, initiation, and development of projects. He will work with business partners to expand and accelerate the roll out of Agilyx chemical recycling solutions to address the challenge of post-use plastic globally.
Mr. Larsen is an experienced commercial leader with more than 25 years of industrial expertise, most recently having served as commercial director, Plastics Circularity, Europe, Middle East, Africa and Asia Pacific for Dow Inc. where he was responsible for plastic sustainability strategy development and implementation. Mr. Larsen also served as managing director for Dow Nordics, leading cross-functional international teams and managed key external partnerships.
Tim Stedman commented: “I would like to welcome Carsten to Agilyx at this exciting time in our development. His breadth of knowledge, experience and relationships will be enormously beneficial to the company as we further strengthen our global reach. I would also like to thank Bill as he transitions to Cyclyx. His contributions over the last years have been integral to building Agilyx.”
At Agilyx, Mr. Larsen will join the executive management team, reporting to Tim Stedman, chief executive officer. In this role, he will oversee business development activities for the company as it continues to expand its footprint around the globe. Mr. Larsen will also provide oversight for Agilyx’s sustainability program, working to ensure the company reaches its ambitious sustainability goals in the areas of circular/environment, climate, and society. He will be based in Copenhagen.
Mr. Larsen holds a bachelor’s degree in international business administration from Copenhagen Business School. He has served on the boards of the American Chamber of Commerce in South Africa and the Chemical & Allied Industries’ Association. He has also served as chairman for the Epoxy Industry Association.
About Agilyx
Agilyx (AGLX) is an early leader in the advanced recycling of difficult-to-recycle post-use plastics. With Agilyx’s chemical recycling technology, mixed plastic waste or streams of discrete post-use plastics, such as polystyrene, can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company, Cyclyx International, LLC, and is partnering with a range of waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop recycling solutions for mixed waste plastics. www.agilyx.com.
Contacts
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
TIGARD, Oregon, USA – August 23, 2021 – Agilyx Corporation (AGLX), a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): “AGLX”) and a pioneer in the advanced recycling of post-use plastics and Kumho Petrochemical, a global leader in the manufacture of synthetic rubber, have announced a collaboration to explore the development and construction of a chemical recycling project in South Korea.
“We’re very interested in recycling of post-use plastics, while focusing on utilizing post-use polystyrene into the pure styrene,” stated Jong-Hoon Baek, CEO of Kumho Petrochemical. “Collaboration with Agilyx will give Kumho Petrochemical an opportunity of proposing new line of eco-SSBR products to most of our customers who prefer sustainable products.”
“We are pleased to partner with Kumho Petrochemical to explore this project and expand the market for post-use recycled polystyrene into new, high growth and technically demanding applications such as this,” stated Tim Stedman, CEO of Agilyx. “The potential to use waste plastic to create high performance SSBR for the manufacture of tires is a very exciting example of our technology’s ability to create a new life for plastic.”
The project will use Agilyx unique and novel chemical recycling technology to produce pure styrene from post-use polystyrene. This would be used as a virgin equivalent raw material to produce solution styrene-butadiene rubber (SSBR), a key component for the manufacture of tires, including for the large volume, high-performance tire segment. The project would mark an exciting new application of Agilyx’s polystyrene depolymerization technology, introducing a new pathway for polystyrene into SSBR.
About Agilyx
Agilyx (AGLX) is an early leader in the advanced recycling of difficult-to-recycle post-use plastics. With Agilyx’s chemical recycling technology, mixed plastic waste or streams of discrete post-use plastics, such as polystyrene, can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company, Cyclyx International, LLC, and is partnering with a range of waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop recycling solutions for mixed waste plastics. www.agilyx.com.
About Kumho
Kumho Petrochemical, founded in 1970 and possessing the largest synthetic rubber manufacturing capacity in the world, is doing businesses in various fields, such as synthetic resins, specialty chemicals, nanocarbon, energy, and building materials. The company manufactures synthetic rubber products using butadiene and styrene, etc., as raw materials. Along with synthetic rubber, synthetic resin, which is used in plastics and building materials, is one of the company’s major areas of business. In announcing the new vision of a “Solution Partner Creating Our Common Future With Value Beyond Chemistry” in 2020, the company is focusing on enhancing its competitiveness and creating sustainable value by taking a broad, long-term view of the future.
www.kkpc.com/eng/
Agilyx Contact
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
Kumho Contacts
David Jeong
Assistant Manager, Public Affairs Team
+82 10 6348 6385
whjung15@kkpc.com
Lee, Suk Yul
Staff, Public Affairs Team
+82 10 7196 3442
leesy3442@kkpc.com
- Flame retardant-laden polystyrene can now be recycled into high purity styrene monomer through Agilyx’s advanced recycling process.
- This technological advancement creates significant new market opportunities and enables recyclability of over 200kt1,2 of material annually just in Europe with far larger volume potential in North America and Asia.
PORTLAND, Oregon, July 27, 2021 – Agilyx Corporation (AGLX), a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): “AGLX”) and a pioneer in the advanced recycling of post-use plastics, announced today a significant milestone in their collaboration with a strategic technology partner which will allow for the recycling of brominated flame retardant-laden polystyrene into a high purity styrene monomer for direct use in downstream products including PS, EPS, ABS, SBR, SAN and Unsaturated Polyester Resins.
The integrated technologies of Agilyx depolymerization open the pathway for previously unrecycled materials, such as construction foam and insulation, to be put back into use as new materials at a quality level equivalent to those manufactured from any other styrene monomer. These materials can then be used for any application from building materials to food containers.
“This new advancement in our advanced recycling capabilities truly demonstrates the excellence of Agilyx’s collaborations,” said Tim Stedman, chief executive officer of Agilyx. “The ability to recycle flame retardant-laden polystyrene not only allows this contaminated material to be part of a sustainable recycling value chain, but it will open up new markets that were previously closed due to the contamination associated with these materials. This is an exciting step on our mission to making all plastics circular, even those that are most distressed and contaminated.”
- Conversio, Final Report Waste generation, waste streams and recycling potentials of HBCDcontaining EPS/XPS waste in Europe and forecast model up to 2050, April 2020.
- Preliminary Information on Manufacturing, Processing, Distribution, Use, and Disposal: Cyclic Aliphatic Bromide Cluster (HBCD), U.S. EPA Office of Chemical Safety and Pollution Prevention 2017.
Contact
Kate Ringier
Vice President, Communications & Government Affairs, Agilyx
Tel: + 41 43 883 0396
Email: kate.ringier@agilyx.com
About Agilyx Corporation
Agilyx (AGLX) is an early leader in the advanced recycling of difficult-to-recycle post-use plastics. With Agilyx’s chemical recycling technology, mixed plastic waste or streams of discrete post-use plastics, such as polystyrene, can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company, Cyclyx International, Inc., and is partnering with a range of waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advanced recycling solutions for mixed waste plastics. www.agilyx.com.