Agilyx — Regulatory Filings 2021

Dec 8, 2021

Agilyx AS (AGLX) – Agilyx announces successful full-scale chemical recycling trial with Mitsubishi Chemical (MCM)

Agilyx AS (AGLX) – Agilyx announces successful full-scale chemical recycling trial with Mitsubishi Chemical (MCM)

• New product pathway; Acrylic / PMMA / Plexiglass, with a total market size of more than 1.3 million tons, equivalent to ~40 Agilyx systems

• Target of 200-300mUSD revenue 2025/2026 further reinforced

• Endorsement from Mitsubishi provides additional evidence of the flexibility of Agilyx conversion technology

• Advancing in the project of a PMMA plant

OSLO, Norway, December 8, 2021 – The full-scale trial, conducted in August 2021, returned results consistent with the successful results of a laboratory-scale trial conducted in 2020. A mixed feedstock included both cast and extruded PMMA sheet, and the effects of different temperature settings were analyzed to find the optimal conditions for PMMA pyrolysis.

Following the successful plant trial, experts from MCM and Agilyx met to build an action plan that sets out the required next steps. Agilyx anticipates Mitsubishi will build a plant using Agilyx technology.

“The results at full production scale are very encouraging,” said David Smith, circular economy programme lead, at Mitsubishi Chemical Methacrylates. “The teams at both MCM and Agilyx worked very well together, and all parties are excited at the prospect of building a new PMMA depolymerization plant using Agilyx technology.”

“The results of our PMMA trials in Tigard have been very positive,” stated Carsten Larsen, CCO of Agilyx. “We’ve proven that Agilyx technology is capable of turning PMMA back into its original monomer, MMA, creating a truly circular material. We’re excited to continue our collaboration with Mitsubishi Chemical Methacrylates.”

The full-scale production trial for PMMA depolymerization took place at Agilyx’s facility in Tigard, Oregon. PMMA, also called acrylic, is a transparent thermoplastic commonly used often used in sheet form as a lightweight or shatter-resistant alternative to glass, for example Plexiglass, (frequently seen in stores during the pandemic) and a variety of other applications.

The crude MMA produced during the plant trial is currently being distilled at MCM’s pilot plant in Wilton, England and will be used both for internal product development and to validate the purification solution that will be used in this process.

About Agilyx Corporation

Agilyx (AGLX) is an early leader in the advanced recycling of difficult-to-recycle post-use plastics. With Agilyx's chemical recycling technology, mixed plastic waste or streams of discrete post-use plastics, such as polystyrene, can be converted to new virgin-equivalent plastics, as well as chemical products and fuels – creating the opportunity for true circularity. The company has not only developed these first-to-market products but has also developed a feedstock management company, Cyclyx International, LLC, and is partnering with a range of waste service providers, municipalities, petrochemical, and brand and retail companies to develop closed-loop recycling solutions for mixed waste plastics. www.agilyx.com.

About Mitsubishi Chemical Methacrylates

Mitsubishi Chemical Methacrylates (MCM), formerly called Lucite International, is the global Methacrylates division of Mitsubishi Chemical and the world’s largest producer of methyl-methacrylate (MMA). With manufacturing sites, sales offices and distribution networks stretching across Asia, the Americas and Europe, MCM creates products that improve quality of life around the world, every single day. Learn more at www.mcc-methacrylates.com.

For further information, contact:

Kate Ringier – VP, Communications and Government Affairs, Agilyx

Tel: + 41 43 883 0396

kate.ringier@agilyx.com