Agilyx announced a memorandum of understanding (MOU) has been signed with a prominent UK based global petrochemical major. Within this agreement, Agilyx will complete the development and engineering for a post-use Polystyrene (PS) to pure Styrene Monomer (SM) chemical recycling facility that will have a capacity of up to 100 tons per day. The MOU includes agreement to have an offtake arrangement that would allow the subsequent construction of the project to be funded either by the MOU counterparty or by third party financing.

It is expected that the project will enter construction after completion of the FID package in approximately 18 months. This represents a new development and is not related to any prior announcements of similar units.