AmSty, the largest polystyrene producer in the Americas, and Agilyx Corporation, a wholly owned subsidiary of Agilyx AS (Euronext Growth (Oslo)): ("AGLX"), a pioneer in the advanced recycling of post-use plastics, announced today an agreement to explore the development of a jointly owned advanced recycling facility. The initial scope of this project will be a 50 to 100 ton per day advanced recycling facility located at AmSty's Styrene production facility in St. James, Louisiana.
The facility will be a next generation expansion of Agilyx advanced recycling technology already in use at the parties' Regenyx joint venture operating in Tigard, Oregon (www.regenyxllc.com), where post-use polystyrene products are converted back into virgin-equivalent styrene monomer. A feasibility study for the project is under way, with a timeline for construction and commissioning to be announced as progress continues.
"Polystyrene is an ideal material for the future of recycling," said Dr. Randy Pogue, president, and chief executive officer of AmSty. "Not only can polystyrene products offer sustainability advantages where less material is required (e.g., a polystyrene foam cup is 95% air), but polystyrene is particularly advantageous for advanced recycling because it can be "unzipped" back to its original liquid form, styrene monomer, using 40% less energy than other polymers. As the global plastics industry moves toward circular recycling to build value and grow access, polystyrene becomes very attractive as a first mover with its inherent conversion advantages. AmSty is committed to keeping polystyrene products out of landfills through circular recycling. We are excited to expand our relationship with Agilyx in this new project to accelerate progress."
"Development of this technology has picked up over the past decade, and it is time to reach a larger scale," said Tim Stedman, chief executive officer of Agilyx. "We have been operating Regenyx with AmSty since 2019 and are pleased to expand our relationship toward a much larger facility at St. James. Joining AmSty as a co-investor underlines our commitment to accelerating the implementation of Agilyx advanced recycling technology and our licensing model. We believe that our technology will significantly increase the availability of recycled content for producers."
Feedstock for this collaboration would be accessed via Cyclyx, Agilyx's feedstock management company. AmSty is a founding member of the Cyclyx consortium. The Cyclyx platform encompasses an integrated set of innovations including chemical characterization of plastics, predictive modelling of feed sources to product pathways, custom feedstock recipes, and customized supply chains to deliver waste plastic feedstocks appropriate for recycling pathways.
