CHRYSALIX EVC FUND: CELP III
LOCATION: PORTLAND, OREGON
Almost three million tons of plastic are generated globally (70 million in the US), while over 90% of waste plastic is not recycled.
Agilyx is attempting to convert difficult-to-recycle waste plastic into high-grade synthetic crude oil, while improving the environment and producing domestic energy.
The Agilyx Generation 6 System is an innovative step forward in the processing of waste plastics and features the first continuous feed self-cleaning waste plastic processing system in the industry. Upon entering the Generation 6 Thermal Reclamation unit, the plastics are heated and converted first to a liquid, and then to a hydrocarbon gas.
The hydrocarbon gases are then transferred to a proprietary back-end system where they are condensed back to liquid and move through a separation and conditioning system, creating crude oil from what was once plastic.
With very few new landfills being developed and increasingly stringent incineration standards being imposed, producers of waste plastic are facing increasing tipping fees that are damaging the economics of their businesses. Agilyx provides an economic alternative to landfilling and incineration of the world’s waste plastics.
Chrysalix believes that the waste to energy space will be dominated by technologies that are scalable and can utilize multiple types of feedstocks. Agilyx has developed the only known mixed waste plastic to oil conversion technology that accepts all types of waste plastic. With strong links to all of the large waste plastic producers in the US, Agilyx has the potential for significant early revenue growth and a market leadership position in this space.
Each year several hundred million tons of waste plastic is landfilled or dumped into the oceans. With significant amounts of potential energy stored in each pound of waste plastic, Agilyx’s technology holds the promise of unlocking a new source of energy, while at the same time solving significant economic and environmental pain points.