Agilyx Corp., Tigard, Oregon, a wholly owned subsidiary of Oslo, Norway-based Agilyx AS, has partnered with ExxonMobil to form Cyclyx International LLC Jan. 1. The companies have 75 percent and 25 percent stakes, respectively, in Cyclyx, which will aggregate and preprocess plastic scrap to meet the technical requirements of a wide range of recycling processes while ensuring reliable supply to its customers. Cyclyx’s aim is to “transform the current supply chain and help accelerate the growth of the advanced recycling industry by connecting companies looking for plastic waste solutions with customers engaged in recycling initiatives,” according to a news release issued by Agilyx.
In the summer of last year, Agilyx announced that Cyclyx International Inc., which was formed in 2019, had signed a licensing agreement with Boston-based General Electric (GE) to use its artificial intelligence technology (AI) to jointly develop a set of AI tools to improve recycling options for end-of-life plastics through Cyclyx’s customized demand approach, thereby increasing the recyclability of this material, says Kate Ringier, vice president, communications and government affairs, Agilyx GmbH. “The addition of Exxon to Cyclyx does not impact the work being done with GE,” she adds.
The Cyclyx International LLC joint venture combines Agilyx’s experience in converting end-of-life plastics through its pyrolysis process with Spring, Texas-based ExxonMobil’s technology expertise and large-scale petrochemical manufacturing network. As part of the agreement, Cyclyx will help supply plastic feedstocks for ExxonMobil’s advanced recycling projects.
“This is a significant milestone for Agilyx and Cyclyx as it marks the beginning of an entirely new approach to plastic waste recovery,” says Tim Stedman, chief executive officer at Agilyx, in a news release about the joint venture. “Our mission at Agilyx is clear—to help solve the issue of plastic waste.”
“This joint venture represents an entirely new proposition about the way we handle plastic waste,” adds Joe Vaillancourt, the newly appointed chief executive officer of Cyclyx International LLC. “The Cyclyx business model brings tangible solutions, turning plastic waste into valuable new products. Leveraging Agilyx’s expertise in plastics recycling and the scale of partners like ExxonMobil, we aim to create a lasting and impactful change.”
“We see Cyclyx as helping to fill an important missing link in the plastics recycling value chain that is needed for advanced recycling solutions to scale,” Karen McKee, president of ExxonMobil Chemical Co., says. “We share society’s concern about plastic waste, and our new joint venture is an important step in our efforts to develop advanced recycling technologies and approaches to help meet demand for certified circular polymers.”
In addition to supplying plastic waste to Agilyx’s customers and ExxonMobil, Cyclyx also aims to supply other customers with feedstock solutions for a wide range of recycling initiatives.
Cyclyx is looking for member companies including retailers, brand owners, waste management companies, petrochemical companies, municipalities and others looking for solutions to address plastic waste in the environment.