Agilyx and ExxonMobil’s Joint Venture to Supply Plastics Recycling Industry
The new Cyclix entity will aim to provide needed supply chain transformation to enable advanced recycling on a large scale.
A new joint venture which is focused on helping increase plastic waste recycling has been formed by Agilyx Corp., Tigard, Oregon, (a wholly-owned subsidiary of Norway’s Agilyx AS) and Houston-based ExxonMobil. Named Cyclyx, the new entity will aggregate and pre-process plastic waste to meet the technical requirements of a wide range of recycling processes while ensuring reliable supply of feedstock to its customers. ExxonMobil holds a 25% equity interest in Cyclyx with Agilyx owning the remaining 75%.
Cyclyx aims to transform the current supply chain and help accelerate the growth of the advanced recycling industry by connecting companies looking for plastic waste solutions with customers engaged in recycling initiatives. This joint venture combines Agilyx’s expertise in plastic waste conversion with ExxonMobil’s technology expertise and large-scale petrochemical manufacturing network.
Agilyx’s technology identifies the chemical profile of various mixed plastics, enabling it to convert the material to a product for its desired application. Agilyx’s two-pronged technology and feedstock management system has been largely applied to capturing and processing polystyrene but can also be applied to other plastic types. Agilyx also has commercialized an advanced pyrolysis technology that converts mixed plastics to high quality crude oil, for it to then be turned back into high grade plastic products.
As part of the agreement, Cyclyx will help supply plastic waste feedstocks for ExxonMobil’s advanced recycling projects. Advanced recycling involves breaking down plastic waste to its molecular building blocks which are then used in the process of making virgin-quality plastic and other valuable products. In addition to supplying plastic waste to Agilyx’s customers and ExxonMobil, Cyclyx also aims to supply other customers with feedstock solutions for a wide range of recycling initiatives.
Said Agilyx CEO Tim Stedman,“This is a significant milestone for Agilyx and Cyclyx, as it marks the beginning of an entirely new approach to plastic waste recovery. Our mission at Agilyx is clear – to help solve the issue of plastic waste.” Added newly appointed Cyclyx CEO Joe Vaillancourt, “This joint venture represents an entirely new proposition about the way we handle plastic waste. The Cyclyx business model brings tangible solutions, turning plastic waste into valuable new products. Leveraging Agilyx’s expertise in plastics recycling and the scale of partners like ExxonMobil, we aim to create a lasting and impactful change.”
Said president of ExxonMobil Chemical Karen McKee, “We see Cyclyx as helping to fill an important missing link in the plastics recycling value chain that is needed for advanced recycling solutions to scale. We share society’s concern about plastic waste, and our new joint venture is an important step in our efforts to develop advanced recycling technologies and approaches to help meet demand for certified circular polymers.”
Cyclyx is inviting other companies to join as members, connecting waste producers with advanced and mechanical recyclers through innovative supply chains. Members could include retailers, brand owners, waste management companies, petrochemical companies, municipalities and others looking for solutions to address plastic waste in the environment.
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