BioBTX And Agilyx Announce Collaboration For The Production Of Circular Aromatic Chemicals

TechDogs-"Fiverr Announces Second Quarter 2022 Results"

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

First published on Mon, Apr 24, 2023

Enjoyed what you read? Great news – there’s a lot more to explore!

Dive into our content repository of the latest tech news, a diverse range of articles spanning introductory guides, product reviews, trends and more, along with engaging interviews, up-to-date AI blogs and hilarious tech memes!

Also explore our collection of branded insights via informative white papers, enlightening case studies, in-depth reports, educational videos and exciting events and webinars from leading global brands.

Head to the TechDogs homepage to Know Your World of technology today!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. While we aim to provide valuable and helpful information, some content on TechDogs' site may not have been thoroughly reviewed for every detail or aspect. We encourage users to verify any information independently where necessary.

Tags:

Agilyx BioBTX Renewable Aromatics Technology Plastics Recycling Pyrolysis Technology

Join The Discussion

Mesirow Again Ranked Among Top Chicago Area Wealth Management Firms

Vaital Named By Inc. To 2026 List Of Fastest-Growing Private Companies On The West Coast

ACES India Enables Seamless 4G & 5G Connectivity At Noida International Airport Ahead Of Launch

DESTINUS Named To Fast Company's Annual List Of The World's Most Innovative Companies Of 2026

Exscape Group Announces New Partnership With Buckeye Landscape Service