Regenyx joint venture wraps up after five successful years

OSLO, Norway - February 29, 2024 - Agilyx ASA (OSE: AGLX; OTCQX: AGXXF)
("Agilyx" or "the company"), a technology company that enables customers to
recycle the most challenging post-use plastics to high value, virgin-equivalent
products, announced today that it has reached an agreement with Americas
Styrenics (AmSty), its joint venture partner, to close Regenyx after
successfully achieving the objectives defined in its five year formation
agreement. 

Regenyx, located in Tigard, Oregon (US), is a 50/50 joint venture between AmSty
and Agilyx. The company converts post-use polystyrene back into its original
components for production under AmSty's PolyRenew® label. Regenyx showcases
Agilyx depolymerization technology and enables AmSty to produce new polystyrene
that is used to make products with the same quality and durability as virgin
plastic. Over the course of the five-year project, Regenyx diverted over 6
million pounds of post-use polystyrene waste from landfills. 

"Because of Regenyx, the new circular plastics economy now has a place for
polystyrene, and this essential material that improves people's lives has even
more potential for growth," said Tim Barnette, AmSty vice president of polymers
and sustainability. "AmSty is proud to have been part of this long-term project
that proves advanced recycling of polystyrene is not only feasible, it is the
future." 

"We are very proud of our team and our company for the important work we've done
over the past five years in Tigard," said Russ Main, interim CEO of Agilyx.
"Building this first-of-its-kind circular recycling model for polystyrene in the
US opened the door for Agilyx to progress additional commercial projects, such
as the Toyo Styrene plant in Japan which is nearing completion of commissioning
and will showcase the latest generation of Agilyx technology." 

The Regenyx venture achieved many milestones including establishment of ISCC
PLUS certification for the demonstrated circular pathway. The venture also
allowed both parent companies to develop and progress additional projects and
pathways at larger scale. Having successfully delivered its defined project
objectives, Agilyx and AmSty will decommission the Regenyx venture at the end of
the five-year agreement. The plant will cease operations by April 30, 2024,
alongside the wind down of the venture. 

 

ABOUT AGILYX 

Agilyx ASA is a technology company that enables customers to recycle
difficult-to-recycle post-use plastics to high value, virgin-equivalent
products. With a focus on diversion and conversion of plastic waste, Agilyx is
uniquely positioned with a chemical recycling technology offering and an
integrated feedstock solution by way of Cyclyx, an innovative feedstock
management consortium of partners that drives up global plastic recycling rates
by chemically fingerprinting plastic waste and matching it to appropriate
recycling processes. Agilyx was the first to establish a commercial scale waste
polystyrene chemical recycling facility via pyrolysis enabling closed loop
polystyrene plastic-to-plastic and holds 20 patents. Agilyx conversion
technology utilizes pyrolysis without a catalyst and can convert mixed waste
plastic to naphtha and fuels or depolymerize specific plastics such as
polystyrene and PMMA (acrylic) back into virgin-quality products. Learn more at
www.agilyx.com or follow us on Linkedin. 

 

CONTACTS 

For media inquiries: 
Melanie Burger 
Director, Corporate Communications 
[e-mail] 

 

For investor inquiries: 
Louise Bryant 
SVP, Investor Relations & Sustainability 
[phone] 
[e-mail]

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© Oslo Bors ASA, source Oslo Stock Exchange