OIL & GAS
OIL & GAS
OIL & GAS
Cyclyx’s aim is to “transform the current supply 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,” according to a news release issued by Agilyx.
In the summer of last year, Agilyx announced that Cyclyx International Inc. had signed a licensing agreement with Boston-based General Electric (GE) to use its artificial intelligence technology (AI) to jointly develop a set of AI tools to improve recycling options for end-of-life plastics through Cyclyx’s customized demand approach, thereby increasing the recyclability of this material.
This is a significant milestone for Agilyx and Cyclyx as it marks the beginning of an entirely new approach to plastic waste recovery. Our mission at Agilyx is clear—to help solve the issue of plastic waste.Tim Stedman, Chief Executive Officer, Agilyx
The Cyclyx International LLC joint venture combines Agilyx’s experience in converting end-of-life plastics through its pyrolysis process with Spring, Texas-based ExxonMobil’s technology expertise and large-scale petrochemical manufacturing network. As part of the agreement, Cyclyx will help supply plastic feedstocks for ExxonMobil’s advanced recycling projects.
We see Cyclyx as helping to fill an important missing link in the plastics recycling value chain that is needed for advanced recycling solutions to scale. We share society’s concern about plastic waste, and our new joint venture is an important step in our efforts to develop advanced recycling technologies and approaches to help meet demand for certified circular polymers.Karen McKee, President, ExxonMobil Chemical Co.
In addition to supplying plastic waste to Agilyx’s customers and ExxonMobil, Cyclyx also aims to supply other customers with feedstock solutions for a wide range of recycling initiatives.
Cyclyx is looking for member companies including retailers, brand owners, waste management companies, petrochemical companies, municipalities and others looking for solutions to address plastic waste in the environment.