Agilyx seeks Norwegian stock listing

Portsmouth, New Hampshire-based Agilyx Corp., which develops technology to convert discarded plastic into new plastics and fuels, has announced its intention to raise new equity through listing shares on the Merkur Market, which is part of the Oslo Stock Exchange in Norway. The additional equity will be used “to drive commercialization of projects, strengthen Agilyx's technology platform and accelerate growth in Europe and Asia,” states the firm.

“Agilyx is dedicated to addressing the plastic waste issue,” Tim Stedman, the firm’s CEO. “We believe that advanced recycling and our feedstock know-how is the key to moving plastic waste recycling rates from 10 percent to 90 percent. In fact, Agilyx technology is aligned with societal trends, the United Nations Sustainable Development Goals, and a circular economy framework.” 

The company says it has spent the previous 16 years Agilyx engaging in “extensive research and commercial operations” to develop “technology and know-how to make plastic a true circular resource.”

The company says its approach can allows discarded plastic, instead of oil, “to be the feedstock of the future” to create new plastic. “With Agilyx know-how and advanced recycling technology, even mixed plastic waste and difficult-to-recycle polymers can be used to make new, high quality plastics –for the most demanding applications like food contact,” states the firm.

Agilyx says it has the only polystyrene (PS) chemical recycling facility certified by International Sustainability and Carbon Certification (ISCC+), and with continuous operations and commercially contracted customers. The firm says it also has a number of projects underway to build additional facilities for chemical recycling, including a larger-scale PS chemical recycling facility in Illinois and facilities to handle other types of plastic in the U.S. and Europe.

“We are excited about taking this step to become a public company, which creates an expanded platform for further growth,” says Peter Norris, chair of the Agilyx board of directors. “The Merkur Market, with its active cluster of renewable companies and strong focus on environmentally and socially responsible investing, is an ideal listing venue for a company like Agilyx.”

Agilyx says it has appointed Stockholm-based Carnegie AS to act as manager in the private placement and listing, and Advokatfirmaet BAHR AS as its Norwegian legal advisor.