- Carolyn Clarke appointed Board Advisory Consultant
- Agilyx to nominate Ms. Clarke for election to its Board of Directors at Annual General Meeting
Oslo, Norway, February 1, 2021 ─ Agilyx AS (Euronext Growth (Oslo): (“AGLX”), a pioneer in the advanced recycling of post-use plastics, announced today the appointment of Carolyn Clarke as a Board Advisory Consultant, effective February 1, 2021. Agilyx intends to nominate Ms. Clarke for election to its board of directors as well as Audit Committee Chair at its Annual General Meeting on May 13, 2021.
Ms. Clarke is a seasoned executive in finance, accounting, risk management and governance. She is the founder and CEO of Brave Consultancy, a management consulting firm that provides innovative solutions, enabling organizations to navigate risk. Ms. Clarke will join Agilyx initially as an independent board consultant, advising on strategic considerations, particularly as it relates to the company’s audit process.
Before founding Brave Consultancy, Ms. Clarke was the Head of Audit, Risk and Control at Centrica, where she transformed the audit function to be recognized as one of the Leading Audit teams by the Institute of Internal Auditors. Prior to this, Ms. Clarke spent almost twenty years with PwC and seven years as a partner. While acting as PwC’s Country Managing Partner in Mongolia, Ms. Clarke established the first global professional services firm in the country, leading the provision of audit, tax, capital markets, transactions, and advisory services. She was presented with an award for the Best International Company in Mongolia by the Business Council in 2012.
Ms. Clarke currently holds several Board positions; she is the Chair of the Board of Care International UK and a member of the Global Council of Care International. Ms. Clarke also serves as non-executive director and is a member of the Audit Committee at Starling Bank. Until recently, Ms. Clarke was the Vice-Chair of the Institute of Business Ethics.
Tim Stedman, CEO of Agilyx said: “I am delighted to welcome Carolyn to Agilyx. Carolyn’s wealth of experience as an auditor and advisor to a wide range of multinational organizations, including within the energy industry, will be vital as Agilyx continues to grow.”
Ms. Clarke said: “I am excited to be joining Agilyx at such a critical time as we seek a greener and more sustainable future. Agilyx has an important role to play in creating a future where waste plastics and polymers can become a valuable renewable resource. I am pleased to bring my audit, risk and financial experience to support the company and its growth.”
Ms. Clarke holds a bachelor’s degree in Accounting and Finance from Newcastle University. Ms. Clarke is a member and fellow of the Institute of Chartered Accountants in England and Wales, as well as a member of the Chartered Institute of Internal Auditors.
Contacts
Agilyx
Kate Ringier
VP, Communications & Government Affairs
+41 78 822 7770
kate.ringier@agilyx.com
About Agilyx
Agilyx (AGLX), is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Advanced Recycling Technology will support national goal to increase U.S. recycling rate to 50% by 2030
TIGARD, Oregon, December 28, 2020 — Agilyx Corporation, a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): (“AGLX”), a leader in advanced recycling of post-use plastics back into plastics and low carbon fuels, applauds the National Recycling Strategy that was recently announced by the U.S. Environmental Protection Agency (EPA), along with its goal of increasing the national recycling rate to 50 percent by 2030.
The company recently became a signatory to the National Recycles Pledge.
Agilyx strongly supports the recent call by for “EPA Administrator Andrew Wheeler a revival of the U.S. recycling system, which faces significant challenges, ranging from consumer confusion to reduced international markets and old recycling infrastructure that has not kept pace with modern materials streams.”
Agilyx also encourages Congress to work with industry to prioritize recycling legislation in 2021, including accelerating the circular economy for plastics. “As part of modernizing the US recycling system, regulatory frameworks should recognize the role of innovative advanced recycling and chemical recycling technologies that enable the conversion of plastics into feedstocks for new plastics and other products,” says Tim Stedman, CEO of Agilyx. “With advanced recycling technology, even mixed plastic waste and difficult-to- recycle polymers can be used to make new, high quality plastics – opening up the possibility for plastic waste to be the feedstock of the future, instead of oil.”
Already there has been significant progress in domestic investments in the U.S. recycling system. In the last three years, 64 projects in mechanical and advanced recycling in the U.S have been announced, valued at $5.3 billion, according to the American Chemistry Council. Together, these projects have the potential to divert more than 4.0 million metric tons of waste from landfills each year. In addition, many companies have made significant commitments to use recycled plastics in their packaging and products.
“Agilyx is dedicated to addressing the plastic waste issue,” says Stedman. “We believe that advanced recycling technology is the key to moving that number from 10% to 90% of plastic waste being recycled.”
About Agilyx
Agilyx (AGLX), is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Advocating for advanced technology to make plastics more circular
OSLO, NORWAY and BRUSSELS, BELGIUM, December 22, 2020 — Chemical Recycling Europe is pleased to welcome Agilyx AS, a leader in advanced recycling of post-use plastics, as a new member of the association.
Agilyx AS, headquartered in Oslo, Norway, has expanded its geographic presence from the U.S. to Europe, having listed its shares on the Norwegian stock exchange earlier this year. Established in the U.S. in 2004, Agilyx today operates a fully commercial polystyrene chemical recycling facility at Tigard, Oregon, through its joint venture Regenyx. The company has numerous other chemical recycling projects underway with partners in Europe, the US and Japan.
ChemRecEurope Secretary General, Mohammad Hayatifar, said: “We are pleased Agilyx has joined ChemRecEurope. It is one of the pioneers in chemically recycling difficult-to-recycle post-consumer plastic streams into a variety of sustainable products including circular virgin like plastics and chemical intermediates. The company is expanding its reach into Europe, a region where circularity is set high on the agenda, to provide more accessibility to Agilyx’s technology and know-how and to accelerate technology partnerships. We are looking forward to working together with this new member to increase the circularity of plastic.”
Tim Stedman, Chief Executive Officer of Agilyx, said: “We are delighted to join ChemRecEurope. As a company expanding across Europe, Agilyx is eager contribute to the advancement of this exciting and growing part of the circular economy across the region. Chemical recycling technology enables plastic waste and difficult-to-recycle polymers to be converted to new, high quality plastics and chemicals – opening up the possibility for plastic waste to be the feedstock of the future, instead of oil. As we look to transform our systems to be more circular, European regulatory frameworks are recognizing the role of innovative chemical recycling technologies in this transformation.
The members of Chemical Recycling Europe are united by one common goal: closing the loop for the plastics industry by offering the technology to chemically recycle all plastic waste back into its original components and/or other value-added materials.
About Agilyx Corporation
Agilyx (AGLX) is the pioneer in chemically recycling difficult-to-recycle post-use plastic streams into a variety of products including circular virgin like plastics, chemical intermediates, and fuels. The company has not only developed these first-to-market products, but has also developed a feedstock management company Cyclyx International, Inc. and is working with many waste service providers, municipalities, petrochemical, and many brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
About Chemical Recycling Europe
Founded early 2019, Chemical Recycling Europe is the professional representative body of chemical recyclers in Europe and represents the interest of its members towards political bodies and the public. ChemRecEurope’s aim is to deepen a positive industry-wide relationship throughout the whole chemical recycling value chain in Europe to accelerate the creation of circular economy for plastics. For further information, please visit www.chemicalrecyclingeurope.eu.
The Project Aims to Produce Polypropylene from Mixed Waste Plastic
OSLO, Norway and PHILADELPHIA, PA, December 16, 2020 ─ Agilyx Corporation, a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo): (“AGLX”), a pioneer in the advanced recycling of post-use plastics, and Braskem (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, today announced the initiation of a feasibility study to explore the development and construction of an advanced plastics recycling project in North America.
The project aims to examine an efficient pathway to produce polypropylene (PP) using difficult-to-recycle mixed waste plastic, powered by Agilyx advanced recycling technology. Mixed waste plastics for this project would be sourced through Agilyx’s feedstock management company, Cyclyx International, Inc. In addition, this project is targeting circular PP with the necessary properties for demanding customer applications such as food packaging, consumer, and hygiene products.
Mark Nikolich, CEO of Braskem America, stated, “As the North American leader in polypropylene, Braskem is committed to evolving its feedstock portfolio to leverage more sustainable input sources and is currently evaluating various supply agreements and innovative projects to drive this shift. Our collaboration with Agilyx is just the most recent example of Braskem’s efforts to more holistically address the limited availability of propylene feedstock derived from post-use plastic in the market today. Looking forward, Braskem intends to explore direct investment options as needed to help accelerate this transition to more circular and sustainable feedstock and production technologies.”
“We are pleased to partner with Braskem to advance this project forward and to expand the market for post-use recycled plastic,” said Tim Stedman, CEO of Agilyx. “Agilyx has a proven technology leadership and track record in converting hard-to-recycle plastic. This collaboration targets a new product pathway for Agilyx, converting mixed waste plastic into the chemical building blocks used to produce polypropylene.”
About Agilyx
Agilyx (AGLX), is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
About Braskem
Braskem is strongly committed to a world where nothing is wasted and everything is transformed. Recently, Braskem announced its new commitment to a Carbon Neutral Circular Economy, with clearly stated targets for growing their I’m greenTM recycled products portfolio to sales of 300,000 tons by 2025 and 1 million tons by 2030. Also, earlier this year Braskem became a founding member and funding partner of the Polypropylene Recycling Coalition, an initiative of The Recycling Partnership with a focus on increasing U.S. curbside recycling access for polypropylene and ensuring PP is widely recovered and reused. Braskem is also a founding member of the Alliance to End Plastic Waste.
To learn more about Braskem’s commitment to a carbon neutral circular economy visit: https://www.braskem.com/usa/news-detail/braskem-affirms-commitment-to-circular-economy-and-to-achieve-carbon-neutrality-by-2050.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are statements that are not historical facts, and are based on our management’s current view and estimates of future economic and other circumstances, industry conditions, company performance and financial results, including Braskem’s commitments to sustainability. The words “commits,” “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the implementation of operating, financing and other strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting our financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of our management and are subject to a number of risks and uncertainties, many of which are outside of our control. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. Please refer to our annual report on Form 20-F for the year ended December 31, 2019 filed with the SEC, as well as any subsequent filings made by us pursuant to the Exchange Act, each of which is available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation.
Contacts:
Agilyx
Kate Ringier
VP, Communications & Government Affairs
+41 78 822 7770
kate.ringier@agilyx.com
Braskem
Stacy Torpey
Communications Director
+1 (215) 841 3194
stacy.torpey@braskem.com
Braskem on social media:
www.facebook.com/BraskemGlobal
www.linkedin.com/company/braskem
www.twitter.com/BraskemSA
Beatriz Malo de Molina named new Agilyx CFO
Russell Main to join Cyclyx International, LLC. as CFO
OSLO, Norway December 15, 2020 ─ Agilyx AS (Euronext Growth (Oslo): (“AGLX”), a pioneer in the advanced recycling of post-use plastics, announced today the appointment of Beatriz Malo de Molina as Chief Financial Officer (CFO), effective January 4, 2021.
Ms. Malo de Molina will succeed current CFO Russell Main, who will be transitioning to CFO of Agilyx’s recently established feedstock management company, Cyclyx International, LLC. (“Cyclyx”).
Ms. Malo de Molina brings to Agilyx a seasoned career in investment banking, private equity, and consulting. She most recently served as Senior Vice President, Head of Mergers & Acquisitions with Orkla ASA. Prior to this role, she held several management and operational roles with Kistefos Private Equity, McKinsey & Co., Inc. in Norway, and internationally with the Goldman Sachs Group, Inc., as well as Ernst & Young. Ms. Malo de Molina currently serves on the board of directors for Nel ASA, a global supplier of hydrogen technology.
“I am pleased to welcome Beatriz to our management team,” said Tim Stedman, Chief Executive Officer at Agilyx. “Beatriz brings a distinguished career with a strong professional background in banking, strategy, and M&A. She will no doubt be integral in driving forward the success of our company.”
“I want to thank Russ for his tremendous leadership in the IPO effort and improving the support functions of our growing company and to his continued success as CFO of Cyclyx,” added Stedman.
Commenting on her position, Ms. Malo de Molina said, “I am thrilled to join Agilyx, and keen to work with such an accomplished international team in addressing the problem of post-use plastics. Agilyx is at the forefront of enabling waste plastic recycling at a commercial scale, with a view towards finding sustainable solutions for this pressing global issue.”
“I am delighted to welcome Russ to the Cyclyx leadership team and look forward to working with him to build out this organization,” said Joe Vaillancourt, President of Cyclyx. “Russ’s entrepreneurial spirit and public company finance experience will be instrumental in creating a solid financial and governance footprint to support the future growth of the company.”
A native of Madrid, Spain, Ms. Malo de Molina graduated from Georgetown University in Washington D.C., and holds a Master’s degree in Philosophy from the University of Oslo. Ms. Malo de Molina will continue to be based in Oslo, where she has been a resident since 2006.
About Agilyx
Agilyx (AGLX), is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Contacts
Agilyx
Kate Ringier
VP, Communications & Government Affairs
+41 78 822 7770
kate.ringier@agilyx.com
Tigard, OR, December 1, 2020, Agilyx Corporation (AGLX-ME), a pioneer in the advanced recycling of post-use plastics, and Toyo Styrene Co., LTD (“Toyo Styrene”), an affiliate of Denka Company Limited announced today the 30% completion of the final phase of the Front End Loading (“FEL”) design development (FEL3) to deploy the Agilyx technology near Toyo Styrene’s facility in the Chiba Prefecture of Japan.
The facility will focus on recycling post-use polystyrene plastic back to a styrene monomer. In April 2020, Agilyx announced the licensing of its technology to Toyo Styrene. This announcement marks a significant step forward toward the realization of a truly circular process.
“We are extremely proud of the work that members of Agilyx and Toyo have accomplished to get the project to this point,” said Tim Stedman, CEO of Agilyx. “This further solidifies the efforts going on at Agilyx to increase global plastic recycling through circular pathways. We are excited to provide our proven solution into the Asian Markets that will greatly improve recycled plastic content availability.”
“I am very satisfied with the progress of design development for this project. Despite the tough situation brought on by COVID-19 at the beginning of this year, the teams at both companies have been working hard, making the best of long-distance collaboration.” said Sanshiro Matsushita, President of Toyo Styrene.” There is a real need in Japan for Chemical Recycling of PS which the market is calling for, providing an ideal atmosphere for this project.”
The state-of-the-art advanced recycling facility is designed to convert up to 10 tons per day of post-industrial and post-consumer polystyrene into a styrene monomer that will be purified using Toyo Styrene’s proprietary purification process. Styrene monomer produced from this process has a significantly lower carbon footprint compared to virgin monomer. The facility is on target to meet the initial goal of commencing operations in early 2022.
About Agilyx
Agilyx (AGLX-ME), is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us 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.
Contacts:
Agilyx
Kate Ringier
VP, Communications & Government Affairs
+41 78 822 7770
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
Underscoring commitment to expand technology partnerships
Schindellegi, Switzerland, November 12, 2020, Agilyx Corporation (OSE: AGLX-ME), a pioneer in the advanced recycling of post-use plastics, announced today the opening of its European hub outside of Zurich, Switzerland.
The European hub reinforces the company’s commitment to accelerate technology partnerships, emphasizing an increased focus in Europe. Following Agilyx’s successful listing on the Merkur Market of the Oslo Stock Exchange in September, the company announced it intends to use the net proceeds from the Private Placement to increase project development and delivery, pipeline development and R&D expansion globally.
“Following months of planning, we are pleased to expand our physical presence in Europe,” said Tim Stedman, CEO of Agilyx. “This is an important step in providing more accessibility to Agilyx’s technology and know-how in Europe, a region where circularity is set high on the agenda.”
The European hub includes members of the management team, including the Chief Executive Officer, Tim Stedman, as well as corporate and business development functional leadership.
About Agilyx
Agilyx, OSE: AGLX-ME, is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Contacts:
Agilyx
Kate Ringier
VP, Communications & Government Affairs +41 78 822 7770
kate.ringier@agilyx.com
Tigard, OR, and The Woodlands, TX – November 9, 2020 – AmSty, the largest polystyrene producer in the Americas, and Agilyx, a leader in advanced recycling technology, announce the successful completion of a fully circular pathway for polystyrene recycling. The two companies have been working to achieve this important milestone for polystyrene in support of a societal shift from linear to circular solutions for managing waste plastic.
Polystyrene waste is currently being transformed from solid form to its liquid feedstock called recycled styrene monomer (RSM) at their joint venture facility, Regenyx, operating in Tigard, Oregon. By receiving ISCC PLUS certification (International Sustainability and Carbon Certification) for the complete pathway from waste aggregation to new polystyrene production, the loop on the recycling circle for polystyrene has been completed. These products can now be put back into the marketplace with original quality, holding third-party certification of recycled content.
For a recycling process to be circular, it must be regenerative, beginning and ending at the same place in the product life cycle. From the consumer’s perspective, polystyrene recycling begins as a consumer product used in the home – a food package or meat tray for example – and up until now has ended in the recycling bin or trash can. Now, when a consumer uses a polystyrene product, it has the potential to be collected from mixed plastic waste, converted to feedstock, and processed into new polystyrene. From there, it can be re-formed into new products without any loss of material quality and enjoyed by consumers again and again. Through the ISCC PLUS certification process, recycled content can be assigned, certified, and claimed by package manufacturers. Consumers can readily identify circular products on the shelf and feel good about their choices and participation in sustainability.
“With this achievement, we can begin moving circular recycled products from concept to reality, and directly into the hands of consumers.” said Tim Barnette, Vice President – Polymers and Sustainability at AmSty. “At a time when people are clamoring for solutions to sustainability advancements, we are proud to offer a circular solution from the plastics sector.”
“We are proud of the work that has been done at the Regenyx facility to accelerate the available capacity of recycled content for producers,” stated Tim Stedman, CEO of Agilyx. “The advancements we have made at Regenyx along with ISCC PLUS certification is further concrete proof that we have created a circular recycling pathway for polystyrene recycling.”
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.
About Agilyx
Agilyx, AGLX-ME, is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Contacts
Kate Ringier
Vice President, Communications & Government Affairs
Agilyx
Phone: +41 78 822 7770
Agilyx GmBH
Schindellegi, Switzerland
Josh Want
Communications Manager
AmSty
Phone: +1 844-512-1212
Website: www.amsty.com
Advanced Chemical Recycling Technology is Making Plastics More Circular
OSLO, Norway, September 30, 2020 – Agilyx AS (“Agilyx”, or the “Company”), a pioneer in advanced recycling of post-use plastics, today began trading on the Merkur Market, a multilateral trading facility operated by the Oslo Stock Exchange, under the ticker symbol AGLX-ME.
Members of the Agilyx Board of Directors led the opening bell ringing at the Oslo Bors today and witnessed the first trading of Agilyx shares on the Merkur Market.
The Agilyx share closed today’s trading at NOK 32,10 per share. This implies an increased market valuation of 79% compared with the NOK 1,600 million valuation on a fully diluted basis (post money) in the Private Placement earlier this month.
The Private Placing, in which the company raised approximately NOK 300 million in new equity, was multiple times oversubscribed and attracted strong interest from existing shareholders, as well as high quality ESG-focused institutional investors.
Agilyx intends to use the net proceeds from the Private Placement for acceleration of project development and delivery, pipeline development and European expansion, R&D expansion, Cyclyx development required to support business plan, as well as for general corporate purposes.
“This IPO marks the start of a new and exciting chapter for Agilyx as a publicly traded company, and propels us forward in our vision of fully utilizing post-use plastics to create a true circular economy for plastics, a material that we all have come to depend on in our daily lives,” said Tim Stedman, CEO of Agilyx.
Addressing Plastic Waste for Circular Economy
“We will now continue to improve our capabilities and push forward in accelerating the many projects in our development pipeline, in addition to our commercially operational facility in Oregon, U.S.,” Stedman says.
Over the last 16 years Agilyx has, through extensive research and commercial operations, developed leading industry technology and know-how to make plastics a true circular resource.
Managing plastic waste is a global and immediate challenge. Today barely 10 percent of the world’s plastic waste is recycled, while the rest goes to landfills, or worse, our waterways and oceans. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastics now can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity.
“This listing on the Merkur Market, combined with the successful private placement, provides us with a strong financial platform to take significant steps towards fulfilling our vision,” said Peter Norris, Chairman of the Agilyx Board of Directors, and Chairman of the Virgin Group. “We believe that advanced recycling and feedstock know-how is a key to moving plastic recycling rates from 10% to 90%,” he said.
About Agilyx
Agilyx, AGLX-ME, is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx’s chemical recycling technology and intelligent feedstock management system, mixed plastic waste 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 working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Advisors:
The Company has appointed Carnegie AS to act as Manager in the Private Placement and listing, and Advokatfirmaet BAHR AS as its Norwegian legal advisor.
IMPORTANT NOTICE
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The Manager, including any of its affiliates or any of its respective directors, officers, employees, advisors or agents does not accept any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. This announcement has been prepared by and is the sole responsibility of the Company.
Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan, Hong Kong, South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement does not contain or constitute an offer to sell or a solicitation of any offer to buy or subscribe for any securities referred to in this announcement to any person in any jurisdiction, including the United States, Australia, Canada, Japan, Hong Kong or South Africa or any jurisdiction to whom or in which such offer or solicitation is unlawful.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with applicable U.S. state securities laws. The Company do not intend to register any securities referred to herein in the United States or to conduct a public offering of securities in the United States.
Any offering of the securities referred to in this announcement will be made by means of a set of subscription materials provided to potential investors. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned subscription materials.
In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression “EU Prospectus Regulation” means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State).
This communication is only being distributed to and is only directed at persons in the United Kingdom that are Qualified Investors and that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
This announcement is made by, and is the responsibility of, the Company. The Manager and its affiliates are acting exclusively for the Company and no-one else in connection with the Private Placement. The Manager will not regard any other person as its clients in relation to the Private Placement and will not be responsible to anyone other than the Company, for providing the protections afforded to its clients, nor for providing advice in relation to the Private Placement, the contents of this announcement or any transaction, arrangement or other matter referred to herein.
In connection with the Private Placement, the Manager and any of its affiliates, acting as investors for their own accounts, may subscribe for or purchase shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such shares and other securities of the Company or related investments in connection with the Private Placement or otherwise. Accordingly, references in any subscription materials to the shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, the Manager and any of its affiliates acting as investors for their own accounts. The Manager does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.
Matters discussed in this announcement and the subscription materials may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “aims”, “expect”, “anticipate”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. The forward-looking statements in this release and the subscription materials are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. The Company, the Manager and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement and the subscription materials whether as a result of new information, future developments or otherwise. The information, opinions and forward-looking statements contained in this announcement and the subscription materials speak only as at its date and are subject to change without notice.
The Private Placement and the contemplated admission to trading on Merkur Market may be influenced by a range of circumstances, such as market conditions, and there is no guarantee that the Private Placement will proceed and that the admission to trading on Merkur Market will occur.
This announcement is for information purposes only. It does not purport to be complete, and it is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Manager nor any of its affiliates accepts any liability arising from the use of this announcement. The Company and the Manager, and their respective affiliates, expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise.
The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
Partnership paves the way for closed loop recycling to keep polystyrene out of landfills
CHANNAHON, Ill., September 22, 2020 – INEOS Styrolution and AmSty, two of the largest global producers of polystyrene, announce plans to construct a joint 100 ton per day facility in Channahon, Illinois, that will utilize the Agilyx advanced recycling technology to recycle post-use polystyrene products back into virgin- equivalent styrene monomer.1
“Discarded single-use items like polystyrene foam cups and yogurt cups can now go right back to the same applications over and over at the same purity and performance with no need to landfill,” said Greg Fordyce, President Americas for INEOS Styrolution. “We are excited to join forces with AmSty on this ambitious project, which we expect will elevate polystyrene as a sustainable material of choice. In particular, this facility will dramatically increase recycling rates in the greater Chicago area.”
In 2018, AmSty and Agilyx formed their Regenyx joint venture to advance the development of a similar facility in Tigard, Oregon, using Agilyx’s breakthrough pyrolysis technology. The Channahon facility will be engineered on a larger-scale in cooperation with Agilyx to represent the next generation of advanced recycling technology.
“Polystyrene products can offer sustainability advantages where less material is required (e.g., a polystyrene foam cup is 95% air),” said Tim Barnette, Vice President – Polymers and Sustainability at AmSty. “Polystyrene is particularly advantageous for advanced recycling because it can be “unzipped” back to its original liquid form, styrene monomer. Other plastics can also be converted into useful intermediates, but polystyrene offers a truly circular solution. Polystyrene remains the best option for a range of applications such as food and beverage containers. We view polystyrene waste products as valuable feedstock for circular recycling. Keeping plastics out of the landfills not only makes sense from an environmental standpoint, but it makes economic sense as well.”
1 See also earlier press release http://www.ineos-styrolution.com/news/ineos-styrolution-and-agilyx-advance-polystyrene-chemical-recycling-plant-in-channahon-illinois or https://www.prnewswire.com/news-releases/ineos-styrolution-and-agilyx-advance-polystyrene-chemical-recycling-plant-in-channahon-illinois-300971066.html
“Advanced recycling technologies are key to creating a circular economy for plastics,” said Tim Stedman, CEO of Agilyx. “Agilyx’s technology for converting waste polystyrene is proven at scale, having been operational for several years now in Oregon. This new facility in Illinois will be the largest of its type in the world, and will meet the growing demand from brand owners who want more recycled plastic, allowing them not only the possibility of recycling food grade material back to the same products but also for the upcycling of lower quality non-food grade products to meet food grade usage requirements..”
Agilyx will also source and supply plastic waste feedstock for the facility through its recently formed Cyclyx subsidiary. “In addition to the technology, we have developed a feedstock management system, which is just as important as the technology in developing the supply chain for this new market,” said Joe Vaillancourt, Cyclyx’s President. “The overarching goal of Cyclyx is to dramatically increase the recyclability of post-use plastics with a priority for fully circular pathways, as well as assisting in the development of new supply chains that will aggregate and preprocess larger volumes of post-use plastics than current systems.”
Engineering design for the Channahon facility is under way, with construction and commissioning as the expected next phases.
Background:
AmSty, INEOS Styrolution and Trinseo have signed a Joint Development Agreement (JDA) to accelerate the introduction of circularity for one of the most recyclable polymers, polystyrene. The JDA targets advancements in all technical aspects to enable scaled investment in advanced commercial recycling solutions and optimize recycling technologies for large-scale commercial use.
Polystyrene is a unique polymer suitable for multiple advanced recycling solutions like depolymerization. Its properties make it ideal for a circular economy – even enabling food contact compliancy of the recycled material, often considered the holy grail of polymer recycling.
About INEOS Styrolution
INEOS Styrolution is the leading global styrenics supplier, with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 90 years of experience, INEOS Styrolution helps its customers succeed by offering innovative and sustainable best-in-class solutions, designed to give them a competitive edge in their markets, and at the same time, help make the circular economy for styrenics a reality. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, packaging and toys/sports/leisure. In 2019, sales were at 5 billion euros. INEOS Styrolution employs approximately 3,600 people and operates 20 production sites in ten countries.
More information: www.ineos-styrolution.com Follow us on Twitter (@styrolution).
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. For more information, follow us on social media and visit us at www.amsty.com.
About Agilyx
Agilyx is the pioneer in chemically recycling difficult-to-recycle post-use plastic streams into a variety of products including circular virgin-like plastics, chemical intermediates, and fuels. The company has not only developed these first-to-market products, but has also developed a feedstock management company Cyclyx International, Inc. and is working with many waste service providers, municipalities, petro-chemical, and many brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Contacts
INEOS STYROLUTION
April Ludwikowski
Marketing Communications Manager, Americas
INEOS Styrolution Americas
LLC 4245 Meridian Parkway, Suite 151 Aurora, IL 60504
USA Phone: 1.331.212.5757
Email: april.ludwikowski@ineos.com Website: www.ineos-styrolution.com
AMSTY
Josh Want
Communications Manager
Phone: +1 844-512-1212
Website: www.amsty.com
AGILYX
John Desmarteau
Director of Communications and Government Affairs
Phone: (503) 597-6406
Email: jdesmarteau@agilyx.com
Website: www.agilyx.com
For inquiries:
Jo Christian Lund Steigedal Corporate Communications (Norway) +47 415 08 733 jo.christian.steigedal@corpcom.no
– or –
John Desmarteau
Agilyx (USA)
(503) 597-6406 jdesmarteau@agilyx.com
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
OSLO, Norway, September 15, 2020 – With reference to the press release published 13 September 2020, Agilyx AS (“Agilyx”, or the “Company”), , has the pleasure of announcing a successful placing of approximately NOK 300 million through a private placement (the “Private Placement”) of 167,353 new shares in the Company (the “New Shares”).
The New Shares were allocated to new and existing investors at a price of NOK 1,796 per share, which implies a pre-money equity value of the Company of NOK 1.3 billion. The Private Placement attracted strong interest from existing shareholders in Agilyx, as well as high quality ESG focused institutional investors and was approximately 10 times oversubscribed excluding shares pre-allocated to cornerstone investors. The three cornerstone investors who subscribed for and were allocated shares for NOK 100 million were DNB Asset Management with NOK 40 million, Delphi and Storebrand funds with NOK 40 million, and Nordea Asset Management with NOK 20 million
The net proceeds from the Private Placement will be used for acceleration of project development and delivery, pipeline development and European expansion, R&D expansion, Cyclyx development required to support business plan, as well as for general corporate purposes.
Members of the Company’s management and board, as well as certain other large shareholders have (subject to certain exemptions) entered into customary lock-up arrangements with Carnegie AS (the “Manager”) that will restrict, subject to certain exceptions, their ability to, without the prior written consent of the Manager, sell or dispose of shares, as applicable, for a period of twelve or six months, as applicable.
Completion of the Private Placement is subject to (i) the corporate resolutions of the Company required to implement the Private Placement, including the Company’s Board of Directors’ resolution to proceed with the Private Placement and the approval from an extraordinary general meeting in the Company to be held on 24 September 2020 (the
a company operating in chemical
recycling of post-use plastics back into plastics chemicals and low carbon fuels
“EGM”), (ii) payment being received for the New Shares, and (iii) registration in the Norwegian Register of Business Enterprises of the share capital increase in the Company pursuant to the Private Placement. There can be no assurance that these conditions will be satisfied. If the conditions are not satisfied, the offering may be revoked or suspended without any compensation to applicants.
Allocation to investors are expected to be communicated on or about 16 September 2020, with payment date on or about 25 September 2020 and delivery of the New Shares to the subscribers on or about 30 September 2020.
The Company intends to apply for, and expects to, subject to conditions for completion of the Private Placement being fulfilled and necessary approvals from the Oslo Stock Exchange, have its shares admitted to trading on Merkur Market, a multilateral trading facility operated by the Oslo Stock Exchange. The first day of trading on Merkur Market is expected to be shortly after completion of the Private Placement, and is currently anticipated to be on or about 30 September 2020.
In conjunction with the Private Placement, the Company’s board of directors has proposed to carry out a share split of 1:100 (the “Share Split”). The Share Split will, upon the EGM’s approval, take effect immeditaly after the share capital increase pertaining to the Private Placement has been registered with the Norwegian register of business enterprises. The Company’s share capital following the Private Placement and the Share Split will be NOK 727,055 divided into 72,705,500 shares, each with a nominal value of NOK 0.01.
“Our vision is to fully utilize waste plastic as a valuable renewable resource — creating a true circular economy for plastics, a material that we all have come to depend on in our daily lives. This successful capital increase, combined with a listing on Merkur Market, provides us with a strong financial platform to take significant steps towards fulfilling this,” said Peter Norris, Chairman of the Agilyx Board of Directors, and Chairman of the Virgin Group. “We believe that advanced recycling and feedstock know-how is a key to moving plastic waste recycling rates from 10% to 90%,” he said.
“We will now continue to improve our capabilities and push forward in accelerating the many projects in our development pipeline, in addition to our commercially operational facility in Oregon, US, CEO Tim Stedman says.
About Agilyx
Agilyx is the pioneer in chemically recycling difficult-to-recycle post-use plastic streams into a variety of products including circular virgin like plastics, chemical intermediates, and fuels. The company has not only developed these first-to-market products, but has also developed a feedstock management company Cyclyx International, Inc. and is working with many waste service providers, municipalities, petro-chemical, and many brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.
Advisors:
The Company has appointed Carnegie AS to act as Manager in the Private Placement and listing, and Advokatfirmaet BAHR AS as its Norwegian legal advisor.
IMPORTANT NOTICE
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The Manager, including any of its affiliates or any of its respective directors, officers, employees, advisors or agents does not accept any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. This announcement has been prepared by and is the sole responsibility of the Company.
Neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan, Hong Kong, South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement does not contain or constitute an offer to sell or a solicitation of any offer to buy or subscribe for any securities referred to in this announcement to any person in any jurisdiction, including the United States, Australia, Canada, Japan, Hong Kong or South Africa or any jurisdiction to whom or in which such offer or solicitation is unlawful.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with applicable U.S. state securities laws. The Company do not intend to register any securities referred to herein in the United States or to conduct a public offering of securities in the United States.
Any offering of the securities referred to in this announcement will be made by means of a set of subscription materials provided to potential investors. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned subscription materials.
In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression “EU Prospectus Regulation” means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State).
This communication is only being distributed to and is only directed at persons in the United Kingdom that are Qualified Investors and that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
This announcement is made by, and is the responsibility of, the Company. The Manager and its affiliates are acting exclusively for the Company and no-one else in connection with the Private Placement. The Manager will not regard any other person as its clients in relation to the Private Placement and will not be responsible to anyone other than the Company, for providing the protections afforded to its clients, nor for providing advice in relation to the Private Placement, the contents of this announcement or any transaction, arrangement or other matter referred to herein.
In connection with the Private Placement, the Manager and any of its affiliates, acting as investors for their own accounts, may subscribe for or purchase shares and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such shares and other securities of the Company or related investments in connection with the Private Placement or otherwise. Accordingly, references in any subscription materials to the shares being issued, offered, subscribed, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or subscription, acquisition, placing or dealing by, the Manager and any of its affiliates acting
as investors for their own accounts. The Manager does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.
Matters discussed in this announcement and the subscription materials may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe”, “aims”, “expect”, “anticipate”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. The forward-looking statements in this release and the subscription materials are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. The Company, the Manager and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement and the subscription materials whether as a result of new information, future developments or otherwise. The information, opinions and forward-looking statements contained in this announcement and the subscription materials speak only as at its date and are subject to change without notice.
The Private Placement and the contemplated admission to trading on Merkur Market may be influenced by a range of circumstances, such as market conditions, and there is no guarantee that the Private Placement will proceed and that the admission to trading on Merkur Market will occur.
This announcement is for information purposes only. It does not purport to be complete, and it is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Manager nor any of its affiliates accepts any liability arising from the use of this announcement. The Company and the Manager, and their respective affiliates, expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise.
The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
The Gilman Brothers Company Announces New Recycling Program
JULY 16, 2020 – The Gilman Brothers Company is excited to announce that their INFINITY® styrene faced foamboard and their InSite® Reveal® paper faced foamboard products with or without UV or Latex Inks have been tested and determined to be of acceptable composition to be recycled through Agilyx’s proprietary polystyrene advanced recycling solution.
The two companies have pioneered a first-in-kind, sustainable solution specific to foam boards “This is the first true cradle-to-cradle system for styrene and paper faced foamboards,” says Bill VanHorn, Director of Sales. “We are very excited to now proceed forward with specifications and applications around our materials to support this exciting new program. To be able to meet with any retailer and share details around this groundbreaking technology and say YES, our styrene and paper faced foam boards ARE recyclable is the innovation the signage and display industries has needed.”
Agilyx has worked with The Gilman Brothers Company to qualify their modified INFINITY® Boards, which are made from high impact polystyrene (or “HIPS”) and extruded polystyrene (or “XPS”) as well as their InSite® Reveal® Boards, which are made from extruded polystyrene (or “XPS”) and clay coated paper. “We are excited to work with industry leaders like The Gilman Brothers Co. in testing and developing sustainable solutions for materials.” says Chris Faulkner, CTO at Agilyx. “We look forward to deploying recycle programs alongside Gilman Brothers as we expand our efforts to increase plastic recovery and recycling.”
“We listened to the market and heavily invested to see this program come to fruition,” explains Bill VanHorn, Director of Sales. “Retailers will be very happy as we roll out the details behind the supply chain and details behind how it works.” Matt Durbin, Agilyx Vice President of Operations agrees, adding that “Agilyx is excited to progress our relationship with The Gilman Brothers Company and provide a truly circular recycling pathway, enabled by The Gilman Brothers Company, North American Plastics Recycling Group and their other certified supply chain partners, in which post-use boards are recovered for advanced recycling.”
Agilyx, based in Tigard, Oregon, is the leader and pioneer in advanced recycling difficult-to-recycle post-use plastic streams into high-value, low-carbon circular virgin-like polymers, chemical intermediate feedstocks and fuels. The company has developed and is operating the first commercial scale system capable of recycling post-use polystyrene into recycled styrene monomer oil, which is being used to remake new polystyrene products. Agilyx is developing additional advanced recycling facilities globally to meet demands for plastic recovery and recycled content.
For additional information on any Gilman Brothers products visit our website at www.gilmanbrothers.com, email us at sales@gilmanbrothers.com or call regular EST business hours 860-889-8444 USA or the new 24/7 hotline 860-884-2077.
For additional information on Agilyx Corporation visit them online at www.agilyx.com as well as through social media. For media inquires please contact John Desmarteau jdesmarteau@agilyx.com.