PORTLAND, Ore., Jan. 11, 2022 /PRNewswire/ -- Agilyx, (Euronext Growth Oslo: AGLX.OL; OTCQX: AGXXF) a technology company that enables customers to recycle the most challenging post-use plastics to high value, virgin-equivalent products and Toyo Styrene Co., LTD ("Toyo Styrene"), an affiliate of Denka Company Limited, Nippon Steel Chemical & Material Co., Ltd. and Daicel Co., Ltd., announced today they are entering into the construction phase of a 10 ton per day chemical recycling facility in Japan, enabled by Agilyx depolymerization technology.
The recycling plant will convert post-use polystyrene into a styrene monomer that will be purified using Toyo Styrene's proprietary purification process. Styrene monomer produced from this process can then be converted back into high value polystyrene products which bear a significantly lower carbon footprint than similar products made with virgin monomer.
"As the first step toward the circular economy, we will construct a chemical recycling plant for this project, collect post-industrial materials for the time being, and start a chemical recycling business." said Sanshiro Matsushita, President of Toyo Styrene. "Furthermore, in order to build a carbon free society through chemical recycling in Japan, we are also planning to participate in a platform that integrates citizens, businesses, and local government, which is being undertaken by Ichihara City, Chiba Prefecture."
"The decision to move into the final stages of this project is a big accomplishment for the members of Agilyx and Toyo Styrene who have worked tirelessly to bring us to this point," stated Tim Stedman, CEO of Agilyx. "We are very proud of their efforts and excited for the opportunity to bring our proven advanced recycling technology into the Asian markets to help improve the availability of recycled plastic content and increase global plastic recycling through circular pathways."
CONTACT:
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com
Toyo Styrene
Hiroshi Higuchi, Executive Officer, the office manager, environmental measures promotion office, Toyo Styrene Co.,Ltd.
+81-3-3519-5602
h-higuchi@toyo-st.co.jp
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