Agilyx and AmSty Announce Joint Venture

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Nov 08, 2018, 11:47 ET

TIGARD, Ore., Nov. 8, 2018 /PRNewswire/ -- Agilyx, the leader in converting waste plastics to low carbon fuels and chemicals, today announced it has signed a Letter of Intent with AmSty, a leading integrated producer of polystyrene and styrene monomer. The Companies intend to form a joint venture that will assume operations of Agilyx's first-in-kind polystyrene recycling facility in Tigard, Oregon, and to pursue the development of a 50 ton per day polystyrene recycling facility at a location to be determined. The Agilyx process converts used polystyrene products back into their original liquid form, styrene monomer. New polystyrene products can then be made from this recycled styrene monomer without any degradation of quality or value. This is a true circular recycling approach for polystyrene waste and supports AmSty's PolyUsable™ process.

Last August AmSty and Agilyx announced an offtake agreement to process recycled styrene monomer from Agilyx's Tigard, Oregon, facility at AmSty's styrene monomer plant in St. James, Louisiana. "We are excited to work with Agilyx, a leading developer of recycling technologies for plastics, as we continue to improve our PolyUsable™ process assuring polystyrene remains a viable and growing component of the circular economy," said Brad Crocker, President and CEO of AmSty.

"Agilyx is very excited to expand our relationship with AmSty," said Joe Vaillancourt, Agilyx's chief executive officer. "This joint venture will greatly advance the circular economy for post-consumer polystyrene waste and reflects the confidence and support by industry for our technology platform."

About AmSty
AmSty is a leading integrated producer of polystyrene and styrene monomer, offering solutions and services to customers in a variety of markets throughout the Americas. The company is headquartered in The Woodlands, Texas, and is a member of the American Chemistry Council and its Responsible Care initiative.

About Agilyx
Agilyx is an environmental technology and development company located in Tigard, Oregon, that extracts value from difficult-to-recycle mixed waste plastic streams. The Company has developed the first system capable of recycling polystyrene waste into styrene monomer, which is then used to remake polystyrene ("PS"). The Company also has commercialized a technology that converts mixed plastics to high quality VGO crude. These efforts have allowed the Company to expand its product platform into a range of customized low carbon fuels and chemicals. Agilyx has also expanded its circular plastic recycling capabilities, implementing a method for manufacturing feedstocks used for the production of polymers. Agilyx is working with waste service providers, municipalities, refiners, and private and public enterprises to develop closed-loop industrial solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at [email protected]. For more information, follow us on social media and visit us at www.agilyx.com.

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SOURCE Agilyx