(Credit: Cyclyx)Agilyx Corporation, a company that uses commercially viable technology to convert difficult-to-recycle waste plastics into petrochemicals, has teamed with ExxonMobil Chemical Company to launch a joint venture focused on increasing the recyclability of waste plastics and scaling up the supply of qualified plastic waste for the recycling industry. The new company, Cyclyx, will aggregate and pre-process plastic waste to meet the technical requirements of a wide range of recycling processes while also ensuring reliable supply of feedstock to its customers.
Cyclyx aims to fill an “important missing link” in the plastics recycling value 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. Cyclyx will “collaborate with partners to develop recycling solutions for all types of waste plastic, redirecting what would have otherwise gone to landfill, into new pathways, to be used again and again,” the company says.
The joint venture combines Agilyx’s experience in plastic waste conversion with ExxonMobil’s technology and large-scale petro-chemical manufacturing network. As part of the agreement, Cyclyx will help supply plastic waste feedstocks for ExxonMobil’s advanced recycling projects. Advanced recycling involves breaking down plastic waste to its molecular building blocks which are then used in the process of making virgin-quality plastic and other valuable products.
ExxonMobil holds a 25% equity interest in Cyclyx with Agilyx owning the remaining 75%.
Cyclyx invites other companies to join as members as a way to connect waste producers with advanced and mechanical recyclers through innovative supply chains. Members could include retailers, brand owners, waste management companies, petrochemical companies, municipalities and others looking for solutions to address plastic waste in the environment, the company says.
