BioBTX and Agilyx announce collaboration for the production of circular aromatic chemicals

Rhea-AI Summary

Agilyx ASA (OTC: AGXXF), a leader in post-consumer plastics recycling, has partnered with BioBTX B.V. to scale up renewable aromatic chemicals production. This collaboration integrates Agilyx's pyrolysis process with BioBTX's catalytic technology at a commercial demonstration plant, aiming to produce high-quality benzene, toluene, and xylene (BTX) from difficult-to-recycle plastics. Aromatic chemicals represent about 40% of the petrochemical market, valued at approximately $200B annually and projected to grow significantly by 2050. This strategic alliance signifies a critical step towards a circular economy by transforming waste into valuable chemical products, aligning with the increasing demand for sustainable solutions.

Positive

• Strategic collaboration with BioBTX to produce renewable aromatic chemicals.
• Combining pyrolysis technology with catalytic processes enhances waste conversion.
• Access to a market valued at $200 billion annually, expected to grow.
• Potential to meet rising demand for sustainable chemical production.

Negative

• None.

• Aromatic chemicals (benzene, toluene, xylene) are one of the fundamental building blocks of the chemical industry
• Account for ~40% of total petrochemicals by volume and worth ca. $200B/yr

GRONINGEN, Netherlands and OSLO, Norway, April 24, 2023 /PRNewswire/ -- BioBTX B.V. ("BioBTX"), the global leader in renewable aromatics technology, and Agilyx ASA (OSE: AGLX) (OTCQX: AGXXF) ("Agilyx" or "the company"), a leading post-consumer plastics recycling company have entered into a strategic collaboration to explore the scale-up of BioBTX technology at a commercial demonstration plant for the production of renewable aromatic chemicals (benzene, toluene, xylene: BTX).

The partnership will bring Agilyx technology into BioBTX's first commercial plant. Agilyx's pyrolysis technology for difficult-to-recycle post-use plastics combined with BioBTX catalytic technology to convert pyrolysis vapours into aromatic chemicals will create a unique synergy for the production of renewable aromatic chemicals (BTX).

The integration of these two technologies will yield a high quality BTX product, meeting the demanding specifications of the chemical industry whilst also converting difficult to recycle plastic waste streams. 

"This is a significant milestone for chemical recycling as it demonstrates the versatility of Agilyx conversion technology as a key enabler for not only circular plastics but also aromatic chemicals," said Tim Stedman, CEO of Agilyx. "We are thrilled to bring these two technologies together for this innovative collaboration."

"In a sustainable future, carbon demand needs to be obtained from renewable sources. This partnership between Agilyx and BioBTX is a key stepping stone on the path to a truly circular society," said Ton Vries, CEO of BioBTX. "We decided to work together with Agilyx, a global leader in pyrolysis technology for waste plastic on a commercial scale. This cooperation shows that BioBTX and Agilyx are complementary and add value to each other, like Diels and Alder." 

Market

Aromatic chemicals (BTX) are key chemical building blocks, representing 40% of the petrochemicals in terms of volume. In monetary terms, the current Total Addressable Market (TAM) is ca. 200 billion Euros per year, growing to 500 billion Euro or more in 2050.

Global demand for these aromatics is currently 180 million tonnes of carbon and estimated to be 400 million tonnes of carbon in 2050 (Nova Institute).

Contacts
For media inquiries:
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com

For investor inquiries:
Louise Bryant
SVP, Investor Relations & Sustainability
+44 7813 210 809
louise.bryant@agilyx.com

 

View original content:https://www.prnewswire.com/news-releases/biobtx-and-agilyx-announce-collaboration-for-the-production-of-circular-aromatic-chemicals-301805231.html

SOURCE Agilyx

FAQ

What is Agilyx ASA's partnership with BioBTX about?

Agilyx ASA has partnered with BioBTX to explore the scale-up of technology for producing renewable aromatic chemicals from recycled plastics.

What is the market value of aromatic chemicals?

The market for aromatic chemicals is currently valued at approximately $200 billion per year, with projections for significant growth by 2050.

How does Agilyx's technology work in this collaboration?

Agilyx's pyrolysis technology converts difficult-to-recycle plastics into vapors, which are then transformed into aromatic chemicals using BioBTX's catalytic process.

What are the implications of this collaboration for sustainability?

This collaboration represents a major step towards a circular economy by utilizing waste plastics to produce valuable chemical products sustainably.

What are the expected benefits of the partnership for Agilyx ASA?

The partnership is expected to enhance Agilyx's market position in sustainable chemical production and access new revenue streams.