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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna

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From: donpat	12/20/2011 10:12:14 AM
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Agilyx RAISES $25 Million while JBI LOSES $29 Million Agilyx secures $25 million financing deal Innovative Tigard company turns waste plastic into crude oil BY GEOFF PURSINGER The Times, Dec 19, 2011 Known as Plas2Fuel until earlier this year, the alternative energy company converts waste plastic into synthetic crude oil.Tigard-based company Agilyx announced Monday that it had received another $25 million in financing to grow its innovative business. CEO Chris Ulum said that the investment would help to expand the company’s fast-growing business. Since March, the 7-year-old company has tripled its workforce, increased production and is closing in on $25 million in sales, Ulum said. “This represents another major achievement for Agilyx,” Ulum said in a statement. “This new round of financing will provide us with working capital to fund marketing, business development, the deployment of new projects, but more importantly, allow us to build a war chest to continue to scale our operations and to use when domestic and international expansion opportunities arise.” Located off Hunziker Street in Tigard near Potso Dog Park, Agilyx converts difficult-to-recycle plastics such as motor oil containers into crude oil, reducing the amount of plastic waste that would go to the landfill. The crude oil is then shipped from the Tigard facility to a refinery in the Pacific Northwest. Only about 10 percent of all types of plastic are recycled, Ulum said last year. tualatintimes.com

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