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.

Led by CEO Chris Ulum, Agilyx Corporation has developed a fully permitted, patented waste plastic conversion technology that recycles mixed waste plastic (normally destined for landfills) into synthetic crude oil.

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.

Agilyx’ modular systems are sold to industrial and municipal waste plastic generators and aggregators.

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