Agilyx agrees to an exclusive collaboration with TechnipFMC to enable new pathways for post-use polystyrene to enhance the circular economy

PORTLAND, Oregon, June 25, 2020 /PRNewswire/ -- Agilyx Corporation ("Agilyx"), the leader in chemical recycling of post-use plastics back into polymers, chemicals and low carbon fuels, today announced the exclusive collaboration with TechnipFMC to jointly develop a process to purify Agilyx Styrene Oil to high purity styrene. This collaboration has been the result of over a year of evaluation, and their desire to expand their energy transition and circular economy offerings.

The collaboration between Agilyx and TechnipFMC, will leverage the expertise of each company enabling a new production path of styrene via post-use polystyrene products. The developed purification process will bolt on to Agilyx's existing depolymerization technology and will accelerate the presence of recycled styrene and recycled polystyrene in the market. While manufactured from post-use polystyrene, the recycled styrene is expected to retain all of the properties and functionality of traditionally manufactured styrene.

Polystyrene is commonly used in consumer product applications and for commercial packaging. It is a versatile plastic that can be used in a solid form or foamed.

"We view this collaboration as an important step to meet the increasing demand for recycled content in plastic products," stated Joe Vaillancourt, CEO of Agilyx. "Demand for recycled content is increasing globally driven by legislation as well as sustainability goals by major brand owners. We are excited to work with TechnipFMC, a company focused on advancing sustainable technologies and increasing plastic recovery."

According to Stan Knez, President of TechnipFMC Process Technology: "This collaboration with Agilyx fully aligns with a strategic objective of TechnipFMC and its Technip Energies segment to bring sustainable process technologies to the market place by developing circular economy technology for a major plastic used widely throughout the world."

About TechnipFMC

TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients' project economics.

We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.

Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.

TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world's energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

About Agilyx Corporation
Agilyx is the leader and pioneer in chemically recycling difficult-to-recycle post use plastic streams into high value low carbon circular feedstocks and fuels. The company has developed the first system capable of recycling polystyrene waste into styrene monomer, which is then used to remake new polystyrene ("PS") products. The company also has commercialized a technology that converts mixed plastics to high quality crude oil. From these first to market products, the company has since expanded its product platform into a broad range of customized low carbon chemicals, polymers and fuels. Agilyx is working with waste service providers, municipalities, refiners, and both private and public enterprises to develop closed-loop industrial solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at info@agilyx.com. For more information, follow us on social media and visit us at www.agilyx.com.

Media Contact
John Desmarteau, Director of Communications and Government Affairs
jdesmarteau@agilyx.com
(503) 597-6406

Annette Morgan
TechnipFMC Process Technology
+1 281-249-2475
annette.morgan@technipfmc.com

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SOURCE Agilyx