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    AGLX   NO0010872468

AGILYX AS

(AGLX)
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Agilyx AS : (AGLX) - Agilyx continues to reinforce growth; Agilyx and Kumho Petrochemical Assess a Chemical Recycling Facility to produce raw material for tires out of post-use plastic

08/23/2021 | 01:01am EDT
* New application for technology with large market potential
* Broadens customer and value chain base

The project will use Agilyx unique and novel chemical recycling technology to
produce pure styrene from post-use polystyrene. This would be used as a virgin
equivalent raw material to produce solution styrene-butadiene rubber (SSBR), a
key component for the manufacture of tires, including for the large volume,
high-performance tire segment. The project would mark an exciting new
application of Agilyx's polystyrene depolymerization technology, introducing a
new pathway for polystyrene into SSBR. 


TIGARD, Oregon, USA - August 23, 2021 - Agilyx Corporation (AGLX), a wholly
owned subsidiary of Agilyx AS (Euronext Growth (Oslo): "AGLX") and a pioneer in
the advanced recycling of post-use plastics and Kumho Petrochemical, a global
leader in the manufacture of synthetic rubber, have announced a collaboration to
explore the development and construction of a chemical recycling project in
South Korea. 

"We're very interested in recycling of post-use plastics, while focusing on
utilizing post-use polystyrene into the pure styrene," stated Jong-Hoon Baek,
CEO of Kumho Petrochemical.
"Collaboration with Agilyx will give Kumho Petrochemical an opportunity of
proposing new line of eco-SSBR products to most of our customers who prefer
sustainable products."

"We are pleased to partner with Kumho Petrochemical to explore this project and
expand the market for post-use recycled polystyrene into new, high growth and
technically demanding applications such as this," stated Tim Stedman, CEO of
Agilyx. "The potential to use waste plastic to create high performance SSBR for
the manufacture of tires is a very exciting example of our technology's ability
to create a new life for plastic."

About AgilyxAgilyx (AGLX) is an early leader in the advanced recycling of
difficult-to-recycle post-use plastics. With Agilyx's chemical recycling
technology, mixed plastic waste or streams of discrete post-use plastics, such
as polystyrene, can be converted to new virgin-equivalent plastics, as well as
chemical products and fuels - creating the opportunity for true circularity. The
company has not only developed these first-to-market products but has also
developed a feedstock management company, Cyclyx International, LLC, and is
partnering with a range of waste service providers, municipalities,
petrochemical, and brand and retail companies to develop closed-loop recycling
solutions for mixed waste plastics. www.agilyx.com.

About Kumho
Kumho Petrochemical, founded in 1970 and possessing the largest synthetic rubber
manufacturing capacity in the world, is doing businesses in various fields, such
as synthetic resins, specialty chemicals, nanocarbon, energy, and building
materials. The company manufactures synthetic rubber products using butadiene
and styrene, etc., as raw materials. Along with synthetic rubber, synthetic
resin, which is used in plastics and building materials, is one of the company's
major areas of business. In announcing the new vision of a "Solution Partner
Creating Our Common Future With Value Beyond Chemistry" in 2020, the company is
focusing on enhancing its competitiveness and creating sustainable value by
taking a broad, long-term view of the future.
www.kkpc.com/eng/ 

Agilyx Contacts
Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396
kate.ringier@agilyx.com 

Kumho Contacts
David Jeong
Assistant Manager, Public Affairs Team 
+82 10 6348 6385
whjung15@kkpc.com

Lee, Suk Yul
Staff, Public Affairs Team
+82 10 7196 3442
leesy3442@kkpc.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AGILYX AS 2.95% 31.4 Real-time Quote.-27.38%
KUMHO PETROCHEMICAL CO., LTD. -1.65% 178500 End-of-day quote.23.10%
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Financials (USD)
Sales 2021 12,8 M - -
Net income 2021 -5,21 M - -
Net cash 2021 22,9 M - -
P/E ratio 2021 -449x
Yield 2021 -
Capitalization 2 435 M 291 M -
EV / Sales 2021 188x
EV / Sales 2022 81,3x
Nbr of Employees 80
Free-Float 39,3%
Chart AGILYX AS
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Technical analysis trends AGILYX AS
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Mean consensus BUY
Number of Analysts 2
Last Close Price 31,40 $
Average target price 8,95 $
Spread / Average Target -71,5%
EPS Revisions
Managers and Directors
Timothy M. Stedman Chief Executive Officer & Director
Russell Main Chief Financial Officer
Peter Michael Russell Norris Chairman
Carolyn Clarke Independent Director
Joseph Lawrence Vaillancourt Vice Chairman
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