Brings in new pre-IPO investor, Keating Capital, to lead the round
VANCOUVER, BC – Today, Chrysalix Venture Capital, the world’s most active cleantech venture capital firm in 2010, announced its continued support of portfolio company, Agilyx Corporation, with participation in the Company’s $25 million Series C round. Joining Chrysalix and other existing investors is first-time and lead investor, Keating Capital.
“With oil prices remaining high and forecasted to rise over the medium to long term, Agilyx’s “clean” and economically-attractive waste plastic-to-crude oil conversion technology is looking even more attractive to the waste and oil industries and to strategic investors,” said Brian Wawro, Sr. VP of Investments at Chrysalix and Board Member at Agilyx. “The completion of this financing round, attracting a top-tier investor like Keating, and the closing of several new commercial projects confirms Agilyx’s leadership position in the waste-to-energy sector. We’re very pleased with the Company’s progress to date as Agilyx is certainly proving to be a cleantech success story. We now look forward to significant expansion both domestically and internationally.”
Agilyx addresses the world’s significant waste plastic problem by converting difficult-to-recycle plastic into ultra-sweet synthetic crude oil in a scalable, versatile, and environmentally-beneficial manner. Additionally, the Company’s patented technology provides a local source for crude oil production limiting dependence on often unstable and expensive foreign oil supplies.
Agilyx deploys its systems around the world with organizations engaged in the management of plastic waste streams who are demanding an alternative to land-filling or incineration. With the Series C funds, the Company will expand geographically, scale its sales and service organization, and expand the rollout of Agilyx-built, owned, and operated systems in the U.S.
About Chrysalix Venture Capital
Chrysalix is a venture capital firm investing in technologies that will drive the new energy economy. The Firm provides early-stage financing, hands-on assistance, and strategic connections to innovative companies confronting the world’s most important energy and environmental issues. In the past few years, the Firm has consistently ranked among the top most active clean energy technology venture capital firms in the world and in 2010, was listed as the most active cleantech VC by the Cleantech Group. The Chrysalix team has an exceptional track record in this emerging industry. Collectively, it has over 120 years of experience in the energy industry and over 120 years in the venture capital business. The Firm is backed by a strong group of international blue-chip industrial and financial Limited Partners, and is headquartered in Vancouver, British Columbia. In total, Chrysalix has approximately $300M in assets under management. For more information, please visit http://www.chrysalixevc.com.
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