Advanced recycling company Agilyx has further underscored its increased focus on Europe and commitment to expand technology partnerships with the opening of a new European hub in Schindellegi, Switzerland.
The move follows the company’s successful listing on the Merkur Market of the Oslo Stock Exchange in September. The company will use the net proceeds from the private placement to increase project development and delivery, pipeline development and R&D expansion globally.
Tim Stedman, CEO of Agilyx, said: “This is an important step in providing more accessibility to Agilyx’s technology and know-how in Europe, a region where circularity is set high on the agenda.”
The European hub includes members of the management team, including the CEO, Tim Stedman, as well as corporate and business development functional leadership.
Agilyx has pioneered advanced recycling technologies for recycling difficult-to-recycle post-use plastic streams. The company has developed the first commercial system capable of recycling polystyrene waste into styrene monomer, which is then used to remake new polystyrene products. The company also has commercialized a technology that converts mixed plastics to high quality crude oil.