15-03-22 Reuse plastic waste to produce synthetic crude oil
Virgin Group and chemical recycler Agilyx have formed a strategic partnership in order to research and develop lower-carbon fuel facilities with the goal to reuse plastic waste to produce synthetic crude oil that will then be refined into a lower carbon fuel.
The companies say that plastic waste that otherwise would be un-recycled will be diverted from landfill and will help broaden options in the market for lower carbon fuels from the limited range available today. Virgin Group wants to provide lower carbon fuel solutions to the global-market and expects Virgin Atlantic and other Virgin companies to be early adopters, as part of the group’s transitional plans of achieving net zero by 2050.
Virgin Group intends to work with Agilyx – whom it has been an investor in for many years – on the development of the production facilities based on its unique conversion technology. Cyclyx, a feedstock company that is majority owned by Agilyx, will source the plastic waste used for the fuel in the first facility.
The first waste-to-fuel location is planned to be in the US, with an aspiration to roll-out similar plants in other countries, including the UK.
Agilyx’s proprietary technology is able to break down plastic waste through a pyrolysis process. Pyrolysis converts mixed waste plastic into a synthetic crude oil which, once further refined, can be used as a lower carbon fuel.
"Through our technology, we aim to unlock the value of plastic waste that otherwise may have been destined for landfill or incineration.”
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