PORTSMOUTH, N.H., Sept. 13, 2020 /PRNewswire/ -- Agilyx, a leader in advanced recycling of post-use plastics back into plastics and low carbon fuels, on 11 September announced its intention to raise new equity through listing shares on the Merkur Market, part of the Oslo Stock Exchange. The additional equity will be used to drive commercialization of projects, strengthen Agilyx's technology platform, and accelerate growth in Europe and Asia.
Over the last 16 years Agilyx has, through extensive research and commercial operations, developed leading industry technology and know-how to make plastic a true circular resource.
Managing post-use plastic waste is a global and immediate challenge. Today barely 10 percent of the world's plastic waste is recycled, while the rest goes to landfills, or worse, our waterways and oceans. With Agilyx's chemical recycling technology and intelligent feedstock management system, mixed plastic waste becomes a valuable resource to be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity.
"Agilyx is dedicated to addressing the plastic waste issue," said Tim Stedman, CEO of Agilyx. "We believe that advanced recycling and our feedstock know-how is the key to moving plastic waste recycling rates from 10% to 90%. In fact, Agilyx technology is aligned with societal trends, the U.N. Sustainable Development Goals, and a circular economy framework."
Unlike mechanical recycling, which is limited in terms of the kinds of plastics and quality yield, Agilyx's approach allows for plastic waste, instead of oil, to be the feedstock of the future. With Agilyx know-how and advanced recycling technology, even mixed plastic waste and difficult-to-recycle polymers can be used to make new, high quality plastics –for the most demanding applications like food contact.
Agilyx also is addressing the challenge of managing the variability and complexity of materials and contaminants within diverse waste streams. With 16 years of deep expertise in chemical conversion, Agilyx has built extensive know-how and intellectual property around chemical recycling characterizations analyzing the relationship between thousands of plastic waste sources, processing parameters and end products.
Founded in 2004, Agilyx is operating in Oregon, USA, the only polystyrene chemical recycling facility certified by International Sustainability and Carbon Certification (ISCC+), and with continuous operations and commercially contracted customers. Agilyx also has a number of projects underway to build additional facilities for chemical recycling, including a larger-scale polystyrene chemical recycling facility in Illinois, USA, as well as PMMA (Lucite) and other types of plastic in the U.S. and Europe.
"We are excited about taking this step to become a public company, which creates an expanded platform for further growth," said Peter Norris, Chairman of the Agilyx Board of Directors, and Chairman of the Virgin Group. "The Merkur Market, with its active cluster of renewable companies and strong focus on environmentally and socially responsible investing, is an ideal listing venue for a company like Agilyx."
Agilyx's vision is to fully utilize waste plastic as a valuable renewable resource -- creating a true circular economy for plastics, a material that we all have come to depend on in our daily lives.
The Company has appointed Carnegie AS to act as Manager in the Private Placement and listing, and Advokatfirmaet BAHR AS as its Norwegian legal advisor.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
About Agilyx Corporation
Agilyx is the pioneer in chemically recycling difficult-to-recycle post-use plastic streams into a variety of products including circular virgin like plastics, chemical intermediates, and fuels. 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 many brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at [email protected]. For more information, follow us on social media and visit us at www.agilyx.com.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The Manager, including any of its affiliates or any of its respective directors, officers, employees, advisors or agents does not accept any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. This announcement has been prepared by and is the sole responsibility of the Company.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in accordance with applicable U.S. state securities laws. The Company do not intend to register any securities referred to herein in the United States or to conduct a public offering of securities in the United States.
Any offering of the securities referred to in this announcement will be made by means of a set of subscription materials provided to potential investors. Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned subscription materials.
In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression "EU Prospectus Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State).
This communication is only being distributed to and is only directed at persons in the United Kingdom that are Qualified Investors and that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
Matters discussed in this announcement and the subscription materials may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "aims", "expect", "anticipate", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release and the subscription materials are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. The Company, the Manager and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement and the subscription materials whether as a result of new information, future developments or otherwise. The information, opinions and forward-looking statements contained in this announcement and the subscription materials speak only as at its date and are subject to change without notice.
The Private Placement and the contemplated admission to trading on Merkur Market may be influenced by a range of circumstances, such as market conditions, and there is no guarantee that the Private Placement will proceed and that the admission to trading on Merkur Market will occur.
This announcement is for information purposes only. It does not purport to be complete, and it is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Manager nor any of its affiliates accepts any liability arising from the use of this announcement. The Company and the Manager, and their respective affiliates, expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise.
The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
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Jo Christian Lund Steigedal
Corporate Communications (Norway)
+47 415 08 733