1. Agilyx launches Plastyx Ltd. for advanced recycling feedstock. 2. Plastyx aims to secure 200,000 metric tons of waste plastic by 2025. 3. Joint venture enhances Agilyx's position in the European recycling market. 4. Carlos Monreal, a leader in recycling, will chair Plastyx.
The establishment of Plastyx Ltd. positions AGXXF to benefit from the growing demand for advanced recycling technologies, especially as it aims to source a significant amount of feedstock, indicating potential revenue growth.
The news of a new joint venture indicates strategic growth and expansion for AGXXF, highlighting the company's commitment to enhancing its market position, which is crucial for investor interest.
As Plastyx establishes itself and meets its objectives, it may contribute to AGXXF's revenue streams and market share over multiple years, aligning with long-term sustainability trends in the industry.
Agilyx ASA (OSE: AGLX) (OTCQX: AGXXF) ("Agilyx" or "the company") announces the launch of Plastyx Ltd. in collaboration with Carlos Monreal. Plastyx aims to be Europe's leading feedstock supplier to the advanced plastic recycling market. Plastyx Ltd. is a 60:40 joint venture between Agilyx and Circular Resources SARL. Mr. Monreal will serve as Chairman.
While advanced plastic recycling technologies are scaling industrially and complementing mechanical recycling, the industry's growth remains constrained by the availability of consistent, high-quality feedstock. Plastyx is designed to bridge this gap by developing partnerships and material processing capabilities to ensure a reliable supply of high-quality polymers for food-grade and other high-performance packaging applications. The company's near-term objective is to source and execute MOUs for 200,000 metric tons of waste plastic by the end of 2025.
"I am excited to start this new phase. After developing advanced recycling facilities as chairman and CEO of Plastic Energy and investing in recycling collection programs through my investment in GreenDot, the natural, next step is to focus on feedstock sourcing. Partnering with Agilyx provides a unique opportunity to scale our joint vision," said Carlos Monreal.
"Agilyx is committed to building an international sourcing platform to support our interests in Cyclyx," added Ranjeet Bhatia, Chief Executive Officer of Agilyx. "Carlos is a leader in our field and has unparalleled understanding of the advanced recycling industry. By linking Cyclyx's industry-leading feedstock management capabilities with Plastyx, through Agilyx's shared ownership interest, we are launching an exciting first mover in this critical market segment."
For more information, visit www.agilyx.com and www.plastyx.com
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