Agilyx CEO Ranjeet Bhatia acknowledged that Carlos is a leader with unparalleled understanding of the advanced recycling industry.
SEATTLE (Scrap Monster): In order to strengthen efforts to find and provide feedstock for the European advanced plastic recycling industry, Agilyx, a leader in chemical recycling technology solutions, announced that it has partnered with Circular Resources to establish a new joint venture.
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Agilyx and Circular Resources have formed a 60:40 joint venture, Plastyx, which was just introduced. Additionally, Carlos Monreal, the chairman and CEO of Plastic Energy, will chair the joint venture. By the end of the current year, the JV hopes to have sourced and executed memorandums of understanding (MOUs) for 200,000 metric tons of waste plastic. The JV aims to provide plastic manufacturers worldwide with customized feedstock solutions.
Agilyx CEO Ranjeet Bhatia acknowledged that Carlos is a leader with unparalleled understanding of the advanced recycling industry.
Though advanced plastic recycling technologies have scaled industrially to complement mechanical recycling techniques, the industry growth has been constrained by shortage in availability of consistent, high-quality feedstock. Plastyx aims to bridge this gap by ensuring a reliable supply of high-quality polymers for various applications, particularly for food-grade and high-performance packaging applications.
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