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Agilyx has announced that Cyclyx, alongside Cyclyx partners ExxonMobil and LyondellBasell, have reached FID for their first Cyclyx Facility (Cyclyx Circularity Centre, or “CCC”) and have approved to move forward into the construction phase. As a reminder, the Cyclyx Circularity Centre will be able to take on board a range of plastics currently going into landfill, process them, and produce 136ktpa of plastic feedstock for advanced and mechanical recycling. The company will receive cash flows in the form of a management fee (c. USD 7m to Cyclyx which is then distributed to Cyclyx’s partners on a proportional basis – this quantum could rise in the future if Agilyx provides project capital), as well as a royalty (USD 2.5m relating to use of background intellectual property) that goes straight to Agilyx.
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