Milan, Italy - OSLO, Norway, March 15, 2021 ─ Maire Tecnimont S.p.A. announces that its subsidiary NextChem, and Agilyx Corporation, a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo):“AGLX”), a pioneer in the advanced recycling of post-use plastics have entered into an agreement to support the development of advanced chemical recycling facilities globally. This agreement combines Agilyx’ s leading pyrolysis technology with NextChem’s expertise, as a leader in licensing, implementation, and EPC services for plastics recycling solutions.
Under the agreement, NextChem will act as a technology and EPC partner for Agilyx. The aim of this partnership is to accelerate the implementation of chemical recycling facilities globally, utilizing Agilyx advanced pyrolysis technology in the conversion of mixed waste plastic into circular olefins and circular fuels. With a longstanding expertise in the advanced recycling of plastics, Agilyx’s proprietary chemical recycling process can turn post-use plastics back into their original chemical components for continued use, increasing the recovery of plastics that cannot be recycled with traditional recycling processes.
The scope of the partnership, in its first phase, is to develop a series of chemical recycling projects for third parties. The initial focus will be on two already identified projects, one in Europe and one in South America. Furthermore, the agreement would represent an opportunity for co-investments in specific projects in order to accelerate the overall commercial pipeline.
“We are proud to include this new partnership with Agilyx into our portfolio and further develop our basket of technological solutions for the circular economy, that already include Upcycling, waste to chemicals, waste to fuels, polymerization and Press Release No. 07 – 15.03.2021 2 now also thermochemical conversion (pyrolysis). We are strongly committed to finding solutions for plastics sustainability along its life-cycle and to enabling a new circular, low carbon economy.” commented Pierroberto Folgiero, CEO of Maire Tecnimont Group and NextChem.
“This alliance represents an acceleration for Agilyx to expand our footprint and implement our advanced recycling technology globally,” said Tim Stedman, Agilyx CEO. “NextChem is a global leader in the deployment and realization of projects and technologies for energy transition and circular economy and we are pleased to be partnering with them to accelerate our go to market strategy as we seek to expand our technology licensing.”
About Maire Tecnimont Group
Maire Tecnimont S.p.A., listed on the Milan Stock Exchange, heads an industrial group which leads the global natural resource conversion market (downstream oil & gas plant engineering, with technological and executive expertise). Its subsidiary NextChem operates in the field of green chemicals and technologies in support of the energy transition. The Maire Tecnimont Group operates in approx. 45 countries, though approx. 50 operative companies and about 9,100 people. For further information: www.mairetecnimont.it www.nextchem.com
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Agilyx (AGLX), is a pioneer in the advanced recycling of difficult-to-recycle post-use plastic streams. With Agilyx's chemical recycling technology and intelligent feedstock management system, mixed plastic waste can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company Cyclyx International, Inc. and is working with many waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. www.agilyx.com.
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