Netherlands: BioBTX and Agilyx have announced a strategic collaboration to scale-up renewable aromatics technology at a commercial demonstration plant. This partnership will utilize Agilyx's pyrolysis technology for recycling post-use plastics and integrate it with BioBTX's catalytic technology for producing renewable aromatic chemicals like Benzene, Toluene, and Xylene. By bringing Agilyx's technology into BioBTX's first commercial plant, the two companies aim to create an innovative synergy that produces sustainable and renewable products.
Agilyx's conversion technology has reached a significant milestone in the chemical recycling industry as it integrates two technologies to produce a high-quality BTX product. This innovation not only meets the rigorous specifications of the chemical industry but also tackles the challenge of converting hard-to-recycle plastic waste streams. The successful integration highlights the versatility of Agilyx conversion technology in enabling circular plastics and aromatic chemicals.
Agilyx and BioBTX have partnered to pave the way towards achieving a sustainable future. The key objective of this partnership is to obtain Carbon demand from renewable sources, which is a crucial step in creating a circular society. By working together, BioBTX and Agilyx complement each other's strengths and add value to the project.
Aromatic chemicals play a key role as chemical building blocks, comprising approximately 40% of petrochemicals in terms of volume. The current Total Addressable Market (TAM) for these chemicals is around 200 billion Euros per year, and this figure is expected to grow to 500 billion Euros or more by the year 2050.
Currently, there is a global demand of 180 million tonnes of Carbon for these aromatics which is estimated to increase to 400 million tonnes of Carbon by 2050.