Agilyx

Based in Norway, Agilyx transforms non-recyclable plastic waste into low-carbon plastic, or plastic intermediates or premium refinery crude oil feedstock. The company uses a pyrolysis process, and the recycling treatment can be customized. Agilyx collaborates with waste service providers, refiners, and municipalities, as well as public and private enterprises for the development of such closed-loop solutions. Founded in 2004, the company went public in September 2020, trading on the Merkur Market operated by the Oslo Stock Exchange. As of May 2021, the company operates in the US, Switzerland, and Norway.

Agilyx established a closed-loop commercial-scale polystyrene-to-styrene oil recycling facility in Oregon in April 2018. The plant was stated to have a recycling capacity of 10 tons per day and to be used by two global producers of polystyrene— AmSty and INEOS Styrolution — for the processing and manufacturing of consumer goods. Agilyx and Technip Energies (a French engineering and technology company) partnered in August 2022 to develop a chemical recycling facility, TruStyrenyx, to offer a solution for chemically recycling polystyrene into high-purity styrene monomer, suitable for producing new, food-grade plastic products or packaging. The companies have been working with  INEOS Styrolution America to design and engineer the chemical recycling facility,  and have advanced a 100-ton-per-day TruStyrenyx chemical recycling facility in Channahon, Illinois with expected completion by 2023. 

The company entered into a number of partnerships: Styrenics Circular Solutions (a joint initiative to increase the circularity of styrenics polymer, a type of compound used for light weight product) in 2019 to help advance its polystyrene chemical recycling process in Europe; Braskem in 2020 (the largest polyolefins producer) to explore the development of advanced plastic recycling in North America; and NextChem (a subsidiary of Maire Tecnimont Group involved in energy transition technologies) in 2021, to focus on developing several chemical recycling projects for third parties, starting with two projects in Europe and South America. The company also partnered with Virgin Group in 2022, to research and develop producing lower-carbon fuel from plastic waste. In April 2023, the company partnered with BioBTX to combine Agilyx's pyrolysis technology for difficult-to-recycle post-use plastics with BioBTX's catalytic technology.

The company also formed a 50/50 joint venture with AmSty called Regenyx (uses Agilyx technology in commercial scale converting post-use polystyrene into its original component). Agilyx also formed a joint venture in February 2021, named Cyclyx International, with the oil and gas giant, ExxonMobil, to develop solutions to aggregate and pre-process waste plastic prior to being used as raw material for recycling. Agilyx—with its 75% stake in Cyclyx—will benefit through a royalty payment for the feedstock that flows through Cyclyx. Cyclyx plans to develop systems that can collect and sort 300,000 tons of plastic waste per year by 2025 and process 3 million tons of plastic waste per year globally by 2030.

In May 2021, the company confirmed its mid-term project pipeline target (timeline undisclosed), which is able to reach a capacity of 500 tons per day in operation and 1,500-2,000 tons per day in the development stage. This would allow the company to reach revenue of around USD 200-300 million from USD 4.3 million in FY 2020. The company generated a gross profit margin of 44.2% and a net loss of USD 10.1 million during 2020.