BioBTX and Agilyx announce collaboration for the production of circular aromatic chemicals

24 Apr 2023 09:00 CEST

• Aromatic chemicals (benzene, toluene, xylene) are one of the fundamental
building blocks of the
chemical industry
• Account for ~40% of total petrochemicals by volume and worth ca. $200B/yr

GRONINGEN, Netherlands and OSLO, Norway – April 24, 2023 – BioBTX B.V.
("BioBTX"), the global leader in renewable aromatics technology, and Agilyx ASA
(OSE: AGLX; OTCQX: AGXXF) (“Agilyx” or “the company”), a leading post-consumer
plastics recycling company have entered into a strategic collaboration to
explore the scale-up of BioBTX technology at a commercial demonstration plant
for the production of renewable aromatic chemicals (benzene, toluene, xylene:
BTX).

The partnership will bring Agilyx technology into BioBTX’s first commercial
plant. Agilyx’s pyrolysis technology for difficult-to-recycle post-use plastics
combined with BioBTX catalytic technology to convert pyrolysis vapours into
aromatic chemicals will create a unique synergy for the production of renewable
aromatic chemicals (BTX).

The integration of these two technologies will yield a high quality BTX product,
meeting the demanding specifications of the chemical industry whilst also
converting difficult to recycle plastic waste streams.

“This is a significant milestone for chemical recycling as it demonstrates the
versatility of Agilyx conversion technology as a key enabler for not only
circular plastics but also aromatic chemicals,” said Tim Stedman, CEO of Agilyx.
“We are thrilled to bring these two technologies together for this innovative
collaboration.”

“In a sustainable future, carbon demand needs to be obtained from renewable
sources. This partnership between Agilyx and BioBTX is a key stepping stone on
the path to a truly circular society,” said Ton Vries, CEO of BioBTX. "We
decided to work together with Agilyx, a global leader in pyrolysis technology
for waste plastic on a commercial scale. This cooperation shows that BioBTX and
Agilyx are complementary and add value to each other, like Diels and Alder.”

Market
Aromatic chemicals (BTX) are key chemical building blocks, representing 40% of
the petrochemicals
in terms of volume. In monetary terms, the current Total Addressable Market
(TAM) is ca. 200
billion Euros per year, growing to 500 billion Euro or more in 2050. Global
demand for these
aromatics is currently 180 million tonnes of carbon and estimated to be 400
million tonnes of
carbon in 2050 (Nova Institute).

ABOUT BIOBTX
BioBTX is a circular chemistry technology developer that enables the replacement
of fossil
resources by biomass & plastic waste. These renewable resources are used for the
production of
drop-in chemicals to enable sustainable and future proof materials. BioBTX
developed a unique and
commercially attractive integrated catalytic pyrolysis process that maximizes
BTX yield and
minimizes operational costs. Without biobased and renewable aromatics the
options for sustainable
materials are very limited; with these renewable aromatics however, it is
possible to achieve truly
green and sustainable materials for the entire society and industry. At BioBTX
we want to change
the world; we want to make our future green. That is why we develop technology
for a sustainable
and circular future.

ABOUT AGILYX
Agilyx ASA is a technology company that enables customers to recycle
difficult-to-recycle post-use
plastics to high value, virgin-equivalent products. With a focus on diversion
and conversion of
plastic waste, Agilyx is uniquely positioned with a molecular recycling
technology offering and an
integrated feedstock solution by way of Cyclyx, an innovative feedstock
management consortium of
partners that drives up global plastic recycling rates by chemically
fingerprinting plastic waste
and matching it to appropriate recycling processes. Agilyx was the first to
establish a commercial
scale waste polystyrene chemical recycling facility via pyrolysis enabling
closed loop polystyrene
plastic-to-plastic and holds 20 patents. Agilyx conversion technology utilizes
pyrolysis without a
catalyst and can convert mixed waste plastic to naphtha and fuels or
depolymerize specific plastics
such as polystyrene and PMMA (acrylic) back into virgin-quality products. Learn
more at
www.agilyx.com or follow us on Linkedin.

CONTACTS
For investor inquiries:
Louise Bryant
SVP, Investor Relations & Sustainability
+44 7813 210 809
louise.bryant@agilyx.com

More information:
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