Agilyx AS (AGLX) - Agilyx Reinforces Mid-Term Targets for Cyclyx, ExxonMobil Accelerating and Increasing Volumes for 2025/2026
Oslo, October 12, 2021 - Following yesterday's announcement from ExxonMobil
stating the company's plans to build its first large-scale plastic waste
advanced recycling facility in Baytown, Texas with expected start of operations
by year-end 2022 and to develop 500,000 metrics tons of capacity by end 2026
across multiple sites, Agilyx is reinforcing its mid-term target for its Cyclyx
joint venture with ExxonMobil.
Previously communicated from Cyclyx was an expectation of Exxon targeting
300,000 tons in 2025, but this is now increased to 500,000 tons by 2025/2026.
ExxonMobil is one of many members recently announced that will contribute to
Cyclyx total volumes. Agilyx is reconfirming its mid-term volume targets for
Cyclyx of 550,000 to 800,000 tons per annum and following today's announcement
will be assessing a revised increased target range.
As communicated in ExxonMobil's Press Release, Cyclyx will help supply
ExxonMobil's advanced recycling projects. As a joint venture between Agilyx and
ExxonMobil, Cyclyx is focused on sourcing, aggregating, and pre-processing large
volumes of plastic waste that can be converted into feedstocks for valuable