Agilyx has unveiled a new business initiative aimed at sourcing and supplying plastic waste feedstock for the European chemical recycling sector. The newly established company, Plastyx, is a joint venture between Agilyx, a U.S.-based chemical recycling specialist, and Circular Resources, a Luxembourg-based company founded by former Plastic Energy CEO Carlos Monreal. Agilyx holds a 60% stake in the venture, while Circular Resources owns the remaining 40%.

Plastyx’s immediate objective is to secure agreements for 200,000 tonnes of plastic waste by the close of 2025. The company aims to provide the European chemical recycling industry with a stable supply of high-quality feedstock for food-grade and other advanced packaging applications.

Carlos Monreal expressed enthusiasm about this new venture, stating, “Having led the development of advanced recycling facilities as Chairman and CEO of Plastic Energy and invested in recycling collection initiatives through GreenDot, the next natural step is to focus on feedstock sourcing. This partnership with Agilyx offers a strategic opportunity to scale our shared vision.”

Monreal stepped down as CEO of Plastic Energy, a UK-based chemical recycling firm, in March 2024 after 13 years at the helm. However, he continues to serve as the company’s chairman. In 2022, his company Circular Resources fully acquired Germany’s Green Dot group, a key player in waste management and recycling.

This move also signals Agilyx’s expansion into the European market. The company previously collaborated with ExxonMobil to establish Cyclyx International, a plastic waste feedstock management firm, in 2021. LyondellBasell later joined as a founding partner. Cyclyx is currently developing a circularity center in Houston, Texas, designed to process approximately 136,000 tonnes of plastic feedstock for both chemical and mechanical recycling. ExxonMobil and LyondellBasell have secured offtake rights for the facility, which is expected to commence operations by mid-2025, with a second center already in planning.

Ranjeet Bhatia, CEO of Agilyx, emphasized the company’s commitment to expanding its international sourcing platform through this collaboration. “Carlos is a recognized leader in our industry with a deep understanding of chemical recycling. By integrating Cyclyx’s advanced feedstock management expertise with Plastyx through Agilyx’s ownership, we are positioning ourselves at the forefront of this critical market segment.”

Agilyx has pioneered proprietary pyrolysis technology for polystyrene, branded as Styrenyx. This technology is currently utilized at a chemical recycling facility in Japan, operated by Denka and Toyo Styrene. Previously, Agilyx partnered with U.S.-based AmSty to run the world’s first commercial-scale polystyrene chemical recycling plant, Regenyx, in Tigard, Oregon, from 2019 until its closure in March 2024. The facility, which ceased operations after incurring losses of $4.5 million since 2021, marked an important milestone in the chemical recycling industry.