Mary Paige Bailey
Virgin Group and a company for chemical conversion technology Agilyx Corp. (Tigard, Ore.) Announced that they are forming a strategic partnership to research and develop low-carbon fuels to help solve the problem of plastic pollution and the global transition to pure zero.
Virgin Group and Agilyx are seeking to reuse plastic waste to produce synthetic crude oil, which will then be processed into low-carbon fuels. Plastic waste that would not otherwise be recycled will be diverted from the landfill and will help expand the market’s low-carbon fuel options from the limited range available today. Virgin Group wants to provide low-carbon fuel solutions to the global market and expects Virgin Atlantic and other Virgin companies to be used early as part of the group’s transition plans to reach net zero by 2050.
Virgin Group intends to work with Agilyx, in which it has been an investor for many years, to develop production capacity based on its unique conversion technology. Cyclyx, an innovative raw material company, most of which is owned by Agilyx, will collect the plastic waste used for fuel at the first plant.
The first place to recycle waste into fuel is planned to be located in the United States, with a desire to deploy similar plants in other countries, including the United Kingdom.
Agilyx’s patented technology is capable of breaking down plastic waste through a pyrolysis process. Pyrolysis converts mixed plastic waste into synthetic crude oil, which after further processing can be used as a low-carbon fuel.
Josh Baileys, CEO of Virgin Group, says: “Innovation and entrepreneurship are important tools for combating the climate crisis. Virgin and other companies have an important role to play in addressing these issues, which is why we are forming this strategic partnership with Agilyx. Creating a low-carbon fuel is an important step toward pure zero. We are very happy to add this project to the circle of investments that we continue to make aimed at solving these problems. “
Tim Stedman, CEO of Agilyx, says: “We are excited to work with the Virgin Group to incorporate a technology solution for low-carbon fuels as it transitions to clean zero. This platform is unique because it will be used for low carbon fuels and has future capabilities for the production of round plastics. We view plastic waste as a valuable terrestrial resource that is not widely used. With our technology, we seek to uncover the value of plastic waste that might otherwise be destined for landfill or incineration. ”
Says Shay Weiss, CEO of Virgin Atlantic: “In this decade, sustainable aviation fuel is a key solution for the decarbonisation of the aviation sector, but we have a long way to go. Radical cooperation between innovators, manufacturers, investors and airlines is needed to clear the skies for tomorrow. We are pleased that Virgin Group and Agilyx are leading the pilot on new pathways in low-carbon fuels, and we look forward to working closely with them to reach our 10% SAF target by 2030. ”
https://www.chemengonline.com/agilyx-to-partner-with-virgin-group-on-plastic-waste-derived-low-carbon-fuels/ Agilyx Collaborates with Virgin Group on Low Carbon Fuels from Plastic Waste – Chemical Engineering