Agilyx, a provider of chemical recycling technology, has initiated a new business venture aimed at sourcing and supplying feedstock for the advanced plastic recycling industry in Europe.

Source: Packaging Gateway

The venture, named Plastyx, is a collaboration between Agilyx and Carlos Monreal, CEO and chair of Plastic Energy.

Plastyx operates as a joint venture (JV) with a 60:40 split between Agilyx and Circular Resources, with Monreal serving as chair.

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.

This newly formed company will concentrate on sourcing and supplying polymers to meet the increasing demand for advanced plastic recycling, particularly in the realm of food-grade and high-performance packaging.

While advanced plastic recycling technologies are expanding industrially and complementing mechanical recycling, the industry's growth has reportedly been hindered by a lack of reliable feedstock.

Plastyx intends to address this issue by establishing strategic partnerships and material processing capabilities to guarantee a consistent and sustainable feedstock supply to fulfill industry needs.

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.

Additionally, it aims to secure memorandums of understanding (MoUs) for 200,000 tonnes (t) of waste plastic by the end of 2025.

Through its Cyclyx and Plastyx joint ventures, Agilyx provides customized feedstock solutions to global plastic manufacturers. The company utilizes its Styrenyx technology platform along with T.EN’s purification technology to promote TruStyrenyx – a comprehensive polymer-to-monomer advanced recycling solution for polystyrene.