Agilyx Secures 22M in Series B Financing
Agilyx Corporation, a Portland, Oregon-based company dedicated to economically converting difficult to recycle waste plastic into synthetic crude oil, has secured $22m in Series B funding.
The round was led by Kleiner Perkins Caufield & Byers (KPCB), with participation from new strategic investors Waste Management, Inc. (NYSE:WM) and Total Energy Ventures International, an affiliate of oil and gas major Total S.A. (NYSE:TOT). Existing investors Chrysalix Energy Venture Capital, Saffron Hill Ventures, and Reference Capital also participated in the round.
The company’s expertise is in efficient, anaerobic thermal reclamation process and in the commercial application of this process, including building and operating commercial scale systems, and marketing synthetic crude oil as a feedstock to existing petroleum refineries.