Peter Norris, the Chairman of Virgin Group, has assumed the Chair position at Agilyx, a leader in chemical recycling.
Virgin and Richard Branson are proud long-term investors and supporters of Agilyx, the leader in the chemical recycling of waste plastics. Virgin invests in renewable projects with high growth potential underpinned by established technologies, which can drive positive change.
Agilyx’s approach is revolutionary, as it enables new, sustainable supply chains that will impact many market sectors, including aviation. Last year Agilyx announced a collaboration with Monroe Energy including a commitment to supply up to 2,500 barrels per day of Agilyx's chemically recycled synthetic feedstock. Monroe Energy, a subsidiary of Delta Air Lines, will refine the feedstock into jet fuel for Delta.
Agilyx has announced changes to its executive team and Board of Directors in preparation for a public financing listing expected by year end in the Nordic region. Mr Norris has served on the Agilyx board since 2014.
Tim Stedman will join the company as Chief Executive Officer and current CEO, Joe Vaillancourt, will assume the role of President of Cyclyx International, Inc., an affiliated company Agilyx recently launched to advance its plastic feedstock management business.
Tim Stedman joins Agilyx after serving as the SVP of Strategy and Corporate Development at Trinseo, a global materials company focused on the manufacturing of plastics, latex and rubber. Prior to his role at Trinseo, Mr Stedman spent more than 20 years at ExxonMobil Chemical in various senior operational and development roles.
Peter Norris commented: "I would like to thank Joe and welcome Tim. Together they provide a world class combination of skills in waste management and the chemical and plastics industries, central pillars to Agilyx´ long term strategy to transform global plastic recycling rates."
Joe Vaillancourt added: "This is an exciting time for Agilyx. I have been part of commercialising and advancing companies and technologies for over 30 years, and my focus at Agilyx has been to bring the Company to this inflection point. I look forward to concentrating on the plastics feedstock side of the business, which is an integral part of chemical recycling."
Agilyx has not only developed first-to-market products in chemical recycling, but also developed a feedstock management company, Cyclyx International, Inc. Cyclyx is working with waste service providers, municipalities, petro-chemical producers, and a number of branded goods companies to develop closed-loop advanced recycling solutions for mixed waste plastics. Head over to Agilyx to find out more.