Agilyx Launches New Feedstock Management Company
Agilyx also announced changes to its executive team and board of directors in preparation for a public financing listing expected by year end in the Nordic region.
Agilyx facility in Tigard, OR.
Chemical recycler Agilyx announced that it is leveraging its existing post-use plastic feedstock management system to create a new subsidiary company called Cyclyx International Inc. The goal of Cyclyx is to 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 can support.
Over the last 16 years, through extensive research and commercial operations, Agilyx has reportedly developed the industry’s largest database and predictive analytics around the chemical complexity embedded in waste plastics. In 2019, Agilyx entered into a partnership with General Electric through its licensing and research divisions to develop artificial intelligence ("AI"), machine learning ("ML") and predictive modeling ("PM") and optimization tools that utilize Agilyx's extensive data and domain knowledge to significantly increase plastic recycling rates for all post-use plastics.
The Cyclyx platform has been developed to be an industry consortium comprised of partners across the value chain. Cyclyx is currently establishing partnerships with many companies in various sectors, including petrochemical, waste and recycling, retail, brand owners as well as municipalities. Over the coming months, Cyclyx will highlight these relationships through additional announcements.
Agilyx also announced changes to its executive team and board of directors.
Peter Norris, the chairman of Virgin Group, has assumed the chairman position at Agilyx. Norris has served on the Agilyx Board since 2014.
Effective August 17th, Tim Stedman will join the company as Chief Executive Officer. Stedman joins Agilyx after serving as the SVP of strategy and corporate development at Trinseo, a global materials company focused on the manufacturing of plastics, latex and rubber. Prior to his role at Trinseo, Stedman spent more than 20 years at ExxonMobil Chemical in various senior operational and development roles. Stedman will be based in Switzerland.
Agilyx's current CEO, Joe Vaillancourt, will assume the role of president of Cyclyx. Vaillancourt will be based in Portsmouth, NH.
"This is an exciting time for Agilyx. I have been part of commercializing and advancing companies and technologies for over 30 years, and my focus at Agilyx has been to bring the company to this inflection point. I look forward to concentrating on the plastics feedstock side of the business, which is an integral part of chemical recycling,” Vaillancourt said.
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