- Collaboration with Technip Energies developing into projects
- Final stage of design and engineering work will form the basis for construction
- Facility will process up to 100 tons of polystyrene waste per day
OSLO, Norway and AURORA, Illinois – March 27, 2023 – Agilyx ASA (OSE: AGLX; OTCQX: AGXXF) (“Agilyx”), a technology company that enables customers to recycle post-use plastics to high value, virgin-equivalent products, and INEOS Styrolution America LLC (:”INEOS Styrolution”), the global leader in styrenics, are pleased to announce that they are advancing the development of a previously announced 100 tons per day TruStyrenyx™ chemical recycling facility in Channahon, Illinois.
TruStyrenyx is a partnership between Agilyx and Technip Energies and provides an all-in-one solution for the chemical recycling of polystyrene back into a high purity styrene monomer. The styrene monomer can be used to make new, food-grade plastic products or packaging. Under the agreement, Agilyx and Technip Energies will collaborate with INEOS Styrolution and together develop the design and engineering that will serve as the basis for constructing the chemical recycling facility. We anticipate completion of engineering in 2023, which will form the basis for a financial investment decision.
Tim Stedman, CEO of Agilyx, said: “I’m delighted that we are partnering with INEOS Styrolution to continue development of the first large scale TruStyrenyx plant, utilizing some of the private placement funds Agilyx raised in September. We view TruStyrenyx as a game changer in the recycling of polystyrene, enabling an incredibly high purity, circular solution. This new facility will help to meet the growing demand from brand owners and consumers who want to see more recycled plastics in products.”
Greg Fordyce, President of INEOS Styrolution, said: “We are very pleased to announce the advancement of the recycling plant in Channahon, Illinois. This facility will increase polystyrene recycling rates in the greater Chicago area and across the United States and demonstrates our company’s ongoing commitment to sustainability. The TruStyrenyx facility will allow us to provide our customers with recycled content that is incredibly high purity for producing environmentally conscious products using innovative and sustainable solutions.”
Contacts
Agilyx
For investor inquiries:
Louise Bryant
SVP, Investor Relations & Sustainability
+44 7813 210 809
louise.bryant@agilyx.com
For media inquiries:
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
INEOS Styrolution
For media inquiries:
April Ludwikowski
Communications Manager, Americas
INEOS Styrolution America LLC
4245 Meridian Parkway, Suite 151
Aurora, IL 60504, USA
+1 331.212.5757
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 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 or follow us on Linkedin.
ABOUT INEOS STYROLUTION
INEOS Styrolution is the world’s leading styrenics supplier, with a high-performing portfolio of styrene monomer, polystyrene, ABS Standard and styrenic specialty products. With more than 90 years of innovation in materials science, INEOS Styrolution is focused on customer satisfaction with differentiated solutions that provide a competitive edge as well as investments in technology that enable closed loop recyclability for styrenics while reducing our carbon emissions. INEOS Styrolution applications can be found in many everyday products across multiple industries: including automotive, electronics, household, construction, healthcare, packaging, and toys/sports. Operating 16 production sites in nine countries, the company is a wholly owned subsidiary of INEOS Group Limited and employs approximately 3,100 people. Sales were 6.6 billion euros in 2022.
More information: www.ineos-styrolution.com
Why invest in Agilyx?
Building the first end-to-end, integrated solution for plastic waste
Agilyx is solving one of the greatest environmental challenges
Plastic waste pollution is one of the greatest environmental challenges with 8 billion tons of plastic accumulated since 1950, and over 440 million tons produced every year. Only 9 percent of this plastic is recycled. Almost half of it is landfilled, 22 percent is incinerated and, worst of all, almost 20 percent is never collected at all, left to find its way into the environment.
Public regulations have been tightened, favoring recycling:
Global brand owners like Coca-Cola, Pepsico, Nestlé, Ikea, Walmart and Unilever have also made commitments to use
25-50% recycled materials in their products.
EU
50% recycling rate for plastic packaging by 2025 with EUR 800 tax per ton on non-recyclable plastic waste
UK
GBP 200 tax per ton on all plastic packaging with less than 30% recycled plastic
US
Recovery Act called for $500M in recycling infrastructure grants
Agilyx technology creates a tremendous market opportunity
Plastic can be hard to recycle, but Agilyx’s patented recycling technology turns even the most challenging plastics into circular resources.
Out of a total expected global demand for plastic of 500 million tons in 2030, between 20 and 105 million tons are expected to be delivered through recycled material.
This opportunity is equivalent to the output of approximately 1,900 Agilyx recycling plants by 2030 and up to 100 million tons of waste plastic processed into feedstock by Cyclyx per year.
Agilyx offers a unique end-to-end, integrated solution for plastic recycling
Recycling of plastic poses two equally important and equally demanding challenges:
- Waste to feedstock: Sourcing of the right amount of the right quality of waste plastic at the right time and at the lowest possible cost
- Feedstock to product: Efficient conversion of waste plastic to purified raw material
Agilyx is the only company that offers state of the art technology for both these processes and provides an end-to-end solution for plastic recycling.
The Agilyx technology is commercially validated with blue-chip partners
Agilyx has a long history with a technology that has been developed over 19 years with total investments of over USD 150 million.
The conversion technology is proven through a commercially operational plant in Oregon. Agilyx has gained an impressive roster of customers for its conversion technology, including AmSty, INEOS Styrolution, Technip Energies and Toyo Styrene.
The feedstock technology arm, Cyclyx, is a JV with ExxonMobil and LyondellBasell, and all the major plastic producers globally are among the consortium members.
The Agilyx strategy is asset-light, ready for scale up and rapid growth
Agilyx has an asset-light strategy with a primary focus on licensing of its technology. The pipeline of projects is growing rapidly and Agilyx is in the process of moving several projects into development and construction phases.
Cyclyx is making a step-change in terms of volume and number of consortium members, and significant feedstock volumes have started flowing through the company.
This means that revenue generation is accelerating and therefore helping to de-risk the Agilyx model.
Agilyx’s mid-term goal for 2025/26 is to generate annual revenue of USD 200-300 million. This revenue will be a function of reaching the goals of 165 tons per day of plant capacity in operation and 495-660 tons per day in development / construction. Cyclyx has a goal of processing feedstock volume of 650,000-900,000 tons per year in the medium term.
Review our most recent financial reports and investor presentations.
Reports and PresentationsTechnip Energies and Agilyx announced today the launch of the TruStyrenyx™ brand, the only all-in-one solution for the chemical recycling of polystyrene. TruStyrenyx™ combines Agilyx’s pyrolysis process and Technip Energies purification technology, yielding a recycled styrene monomer with exceptional high purity. Styrene monomer is used to make numerous plastics and other polymers. It is one of the three primary components of ABS (acrylonitrile-butadiene-styrene), can make the pure polymer polystyrene, and is an ingredient in various synthetic rubbers.
This launch follows successful results from pilot plant testing conducted on difficult to recycle waste polystyrene, including flame retardant laden waste polystyrene. Recycled styrene monomer from the pilot plant meets American Society for Testing and Materials (ASTM) standards(1) for styrene monomer and is greater than 99.8 wt% purity. Flame retardants contain halogens, which are known to be difficult impurities for current polymer production processes. The pilot plant has successfully shown that the resulting halogen concentration in the styrene monomer product is below available detection limits(2).
Technip Energies and Agilyx announced their partnership in June 2021, leveraging Agilyx conversion technology and Technip Energies purification process.
Bhaskar Patel, SVP of Sustainable Fuels, Chemicals and Circularity at Technip Energies, said: “We are pleased with the results of our pilot plant testing in our R&D facility in Weymouth, Massachusetts. This marks an important step in our development of circular solutions for styrenics technologies, and our relationship with Agilyx. Our joint innovative solution, TruStyrenyx™, for the chemical recycling of polystyrene offers potential clients a feasible way to make polymer products from recycled sources without compromising product integrity.”
Chris Faulkner, Ph.D, Chief Technology Officer at Agilyx, said: “This technology collaboration is completely new to the marketplace, offering an all-in-one solution for the chemical recycling of Polystyrene. The high purity of the recycled styrene monomer from testing proves that TruStyrenyx™ offers a recycling solution on par with virgin materials.”
(1) ASTM standards are used and accepted worldwide and cover many industries.
(2) By ASTM D7359 testing method.
Contacts
Technip Energies
Annette Morgan
Head of Marketing & Communications
Sustainable Fuels, Chemicals & Circularity
Tel: +1 281-249-2475
Email: annette.morgan@technipenergies.com
Agilyx
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.
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.
PARIS, France and OSLO, Norway – June 3, 2021 – Technip Energies announced today the initiation of an agreement with Agilyx Corporation (“Agilyx”), a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): (“AGLX”), and pioneer in the advanced recycling of post-use plastics. This collaboration aims to accelerate the implementation of Agilyx’s technology for the advanced recycling of post-use polystyrene. Under this agreement, Technip Energies will market and license the integrated technologies of Agilyx depolymerization and Technip Energies purification technology, leveraging the expertise, resources, and global presence of respective companies.
Both companies bring strong, specialized experience to this offering: Agilyx contributes its deep experience in chemical recycling of post-use plastics, while Technip Energies has extensive experience in scaling-up technology which will increase the plastic recovery.
Stan Knez, Chief Technology Officer of Technip Energies, stated “We are delighted to scale-up this sustainable process to market with Agilyx, providing a reliable circular economy technology for a major plastic used widely throughout the world.”
Tim Stedman, CEO of Agilyx, said: “We’re excited to be working with Technip Energies. This partnership further accelerates the deployment of polystyrene circularity in the market, broadening polystyrene recyclability.”
Agilyx’s proprietary advanced recycling technology converts post-use plastics back into their original chemical components such that they can be used to produce high-quality products that can be recycled indefinitely, without degradation.
Contacts
Annette Morgan
Senior Communications Manager, Technip Energies Process Technology
Tel: +1 281-249-2475
Email: annette.morgan@technipenergies.com
Kate Ringier
Vice President, Communications & Government Affairs, Agilyx
Tel: +41 788-227-770
Email: kate.ringier@agilyx.com
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States. For further information: www.technipenergies.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.