Chemical recycling technology provider Agilyx has launched a new business venture to source and supply feedstock for the European advanced plastic recycling industry.
The new venture, dubbed Plastyx, has been launched by Agilyx in partnership with Carlos Monreal, CEO and chair of Plastic Energy.
Monreal said: “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 programmes 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.”
Plastyx is a 60:40 joint venture (JV) between Agilyx and Circular Resources, with Monreal taking on the role of chair.
The newly created company will focus on sourcing and supplying polymers to support the growing demand for advanced plastic recycling, particularly for food-grade and high-performance packaging applications.
While advanced plastic recycling technologies are scaling industrially and complementing mechanical recycling, the growth of the industry has reportedly been constrained by the lack of availability of reliable feedstock.
Plastyx aims to bridge this gap by establishing strategic partnerships and material processing capabilities to ensure a steady and sustainable supply of feedstock to meet the needs of the industry.
It has also targeted to secure memorandums of understanding (MoUs) for 200,000 tonnes (t) of waste plastic by the end of 2025.
Agilyx CEO Ranjeet Bhatia said: “Agilyx is committed to building an international sourcing platform to support our interests in Cyclyx.
“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.”
Agilyx, via its Cyclyx and Plastyx JVs, offers tailored feedstock solutions to global plastic producers. The company uses its Styrenyx technology platform and T.EN’s purification technology to market TruStyrenyx – a full polymer-to-monomer advanced recycling solution for polystyrene.
In June 2024, Agilyx showcased its depolymerisation technology in Japan.
