Agilyx to raise fresh equity by listing shares on Oslo Merkur market
Chemical

Agilyx to raise fresh equity by listing shares on Oslo Merkur market

The additional equity will be used to drive commercialization of projects, strengthen Agilyx's technology platform, and accelerate growth in Europe and Asia.

  • By Pravin Prashant | September 15, 2020
Agilyx announced on 11th September, its intention to raise new equity through listing shares on the Merkur Market, part of the Oslo Stock Exchange. The additional equity will be used to drive commercialization of projects, strengthen Agilyx's technology platform, and accelerate growth in Europe and Asia.
 
Over the last 16 years Agilyx has, through extensive research and commercial operations, developed leading industry technology and know-how to make plastic a true circular resource.
 
Managing post-use 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 plastic waste becomes a valuable resource to be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity.
 
"Agilyx is dedicated to addressing the plastic waste issue," said Tim Stedman, CEO of Agilyx. "We believe that advanced recycling and our feedstock know-how is the key to moving plastic waste recycling rates from 10% to 90%. In fact, Agilyx technology is aligned with societal trends, the U.N. Sustainable Development Goals, and a circular economy framework."    
 
Unlike mechanical recycling, which is limited in terms of the kinds of plastics and quality yield, Agilyx's approach allows for plastic waste, instead of oil, to be the feedstock of the future. With Agilyx know-how and advanced recycling technology, even mixed plastic waste and difficult-to-recycle polymers can be used to make new, high quality plastics –for the most demanding applications like food contact.
 
Agilyx also is addressing the challenge of managing the variability and complexity of materials and contaminants within diverse waste streams. With 16 years of deep expertise in chemical conversion, Agilyx has built extensive know-how and intellectual property around chemical recycling characterizations analyzing the relationship between thousands of plastic waste sources, processing parameters and end products.
 
Founded in 2004, Agilyx is operating in Oregon, USA, the only polystyrene chemical recycling facility certified by International Sustainability and Carbon Certification (ISCC+), and with continuous operations and commercially contracted customers. Agilyx also has a number of projects underway to build additional facilities for chemical recycling, including a larger-scale polystyrene chemical recycling facility in Illinois, USA, as well as PMMA (Lucite) and other types of plastic in the U.S. and Europe.
 
"We are excited about taking this step to become a public company, which creates an expanded platform for further growth," said Peter Norris, Chairman of the Agilyx Board of Directors, and Chairman of the Virgin Group. "The Merkur Market, with its active cluster of renewable companies and strong focus on environmentally and socially responsible investing, is an ideal listing venue for a company like Agilyx."
 
Agilyx's 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.
 
 
 

Register Now to Attend Petrochem Summit 2024 on Friday, 23rd February 2024, The Park Hotel, New Delhi

Other Related stories

Startups

Petrochemical

Energy

Digitization