Agilyx announces Final Investment Decision for Second Cyclyx Circularity Center

26 Nov 2024 08:50 CET

OSLO, Norway, November 26, 2024 – Agilyx ASA (OSE: AGLX; OTCQX: AGXXF) (“Agilyx”
or “the company”), announced today that Cyclyx International, LLC. (“Cyclyx”),
a post-use plastic-to-feedstock innovator and joint venture among Agilyx,
ExxonMobil, and LyondellBasell, has reached a final investment decision for a
second Cyclyx Circularity Center (CCC2). Located in the Dallas/Fort Worth, Texas
area, the new facility will help to create further necessary infrastructure for
a plastic circular economy.

Together, Agilyx, ExxonMobil and LyondellBasell are investing $135 million into
Cyclyx to fund the construction and operations for CCC2, which has an expected
startup in the second half of 2026. Once operational, the facility will have the
capacity to produce approximately 300 million pounds of plastic waste feedstock
per year for customers using mechanical and advanced recycling technologies.
Agilyx’s $67.5 million investment reflects its 50% interest in Cyclyx and is
fully funded through recent equity and green bond financing transactions.

"We are thrilled to achieve this important milestone in expanding the CCC
network. Combined, CCC1 and CCC2 will have the capacity to produce an estimated
600 million pounds of plastic feedstock annually. This investment helps
redirect plastic waste away from landfills, integrating it into a circular
economy as valuable feedstock for all plastic recyclers", said Ranjeet Bhatia,
Agilyx CEO.

Cyclyx Circularity Centers are uniquely designed to accept a wide range of
plastic waste streams, including materials that are not typically accepted in
current industry recycling programs. Combined, CCC1 and CCC2 will have the
capacity to produce an estimated 600 million pounds of plastic waste feedstock
annually—another step forward to building a more circular economy for plastics.


As part of its strategy, Cyclyx continues to explore the development of
additional CCCs, each placed in major hubs across the United States.

Further updates on the CCC2 project and additional center developments will be
provided as progress continues.

ABOUT AGILYX

Agilyx ASA is at the forefront of plastic waste recycling, enabling the
conversion of challenging post-use plastics into high-value, virgin-equivalent
products. Recognizing that availability of high-quality custom feedstock is
critical for scaling recycling processes, Agilyx, through its Cyclyx subsidiary,
provides tailored feedstock solutions to global plastic producers. By advancing
from a linear "make-take-waste" model to a sustainable circular economy, Agilyx
supports the transition to a low-carbon future. Our adaptable approach ensures
bespoke solutions, leveraging extensive IP and Cyclyx’s feedstock expertise to
meet diverse customer needs. For more information, visit Agilyx Products &
Services and Cyclyx.
Investor Relations Contact: investors@agilyx.com

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