OSLO, Norway – August 21, 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, announces the release of its 2024 Half Year Report. Please see file attached or go to https://www.agilyx.com/investors/reports-presentations/
In H1 2024, Agilyx implemented its strategic pivot from licensing and delivering proprietary pyrolysis conversion plants to providing feedstock to the recycling industry through its affiliate Cyclyx. The process builds on the unique capability to categorize waste and create custom blends of waste plastic feedstock tailored to any conversion technology. This shift positions Agilyx to become the leading global provider of post-use plastic waste feedstock to the recycling industry.
Ranjeet Bhatia, CEO said: “This is a pivotal moment for Agilyx as we focus on the enormous potential of delivering plastic waste feedstock to the recycling industry. Cyclyx is completely technology agnostic, which means that we will help remove a huge bottleneck for the whole plastic recycling industry, regardless of conversion technology.”
In October 2023 Agilyx entered into a partnership with ExxonMobil and LyondellBasell to construct the first Cyclyx Circularity Center (CCC1), a 178,000 inbound tons per year facility with a long-term offtake agreement with ExxonMobil and LyondellBasell. Cyclyx now anticipates FID for the second CCC in Fall 2024, with the output of the facility to be sold to ExxonMobil and LyondellBasell on long-term attractive financial terms.
“With the commissioning of the first Cyclyx Circularity Center mid-next year and FID on the second facility expected in Q4 2024, we are strategically positioned to drive the rapid expansion of an industry-supported CCC network. The fully underwritten $87 million capital raise we announced today will enable our transition to a model that delivers recurring cash flows through long-term offtake agreements with investment-grade companies, securing a path to profitability and positioning Agilyx at the forefront of the circular economy, driving sustainable growth and delivering significant value to our shareholders,” Ranjeet Bhatia said.
Agilyx has the pleasure of inviting investors and analysts to a virtual Business Update Presentation on Wednesday, 28 August 2024 at 14:00 CEST.
The event will be held in English via Microsoft Teams.
Join on Microsoft Teams:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZGE5NzU0NWMtZDM3ZC00YjBiLWEzYzYtZjdmMzRhMTk0Yjhm%40thread.v2/0?context=%7b%22Tid%22%3a%229f131df5-27e1-4bd9-965f-c612def301a8%22%2c%22Oid%22%3a%226eb26b1b-2e7d-4b90-82e1-030b4f17ae64%22%7d
Join on the Web:
Meeting ID: 267 577 861 484
Passcode: fh8kf7
Viewers will be able to ask questions at the end of the presentation.
After the live stream is concluded, a recording of the presentation will be available at www.agilyx.com/investors/reports-presentations/
Enquiries: investors@agilyx.com
Notes to Editors
Agilyx ASA is at the forefront of plastic waste recycling, enabling the conversion of challenging post-use plastics into high-value, virgin-equivalent products. Recognizing that availability of high-quality custom feedstock is critical for scaling recycling processes, Agilyx, through its Cyclyx subsidiary, provides tailored feedstock solutions to global plastic producers. By advancing from a linear "make-take-waste" model to a sustainable circular economy, Agilyx supports the transition to a low-carbon future. Our adaptable approach ensures bespoke solutions, leveraging extensive IP and Cyclyx’s feedstock expertise to meet diverse customer needs. For more information, visit Agilyx Products & Services and Cyclyx.