Agilyx Signs Agreement with A.Eon
Agilyx Corporation (AGLX), a pioneer in the advanced recycling of post-use plastics, and A.Eon Holdings Pty Ltd, a market leader in the development of sustainable energy solutions, announced today the initiation of a memorandum of understanding (MoU) to evaluate the construction of a 50 ton per day commercial scale plastics to energy facility utilizing Agilyx technology. This announcement is further progress of Agilyx’s target of 260 tons per day of projects in development by year end 2020.
The planned facility will be located in Melbourne, Victoria, Australia and will convert mixed waste plastic to Agilyx Synthetic Crude Oil (“ASCO”) through Agilyx proprietary advanced plastics recycling technology. The output ASCO would be used by A.Eon to generate electricity for the Victorian State Government’s redeveloped Footscray Hospital project, local industry, as well as to supply peak energy demand. This initial 50 ton per day focus is a starting point, with an option for additional commercial scale facilities to be developed in Australia by A.Eon.
“We are delighted to be working with A.Eon on this truly impactful project,” said Tim Stedman, CEO of Agilyx. “Having an already proven track record in the U.S. converting mixed waste plastics to ASCO, we are looking forward to replicating this for A.Eon in Australia.”
“An exciting start to a great partnership,” said Andrew Lawson, A.Eon’s Managing Director. “A.Eon is pleased to be working with Agilyx. We look forward to seeing this project come to fruition, which will see up to 20,000 tons of waste plastic diverted from landfill and converted into more than 60,000 megawatt-hours of electricity per year.”