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Agilyx raises USD22m in Series B Round

Agilyx Corporation has raised USD22 million in a Series B fund-raising round led by Kleiner Perkins Caufield & Byers (KPCB) and Chrysalix Energy Venture Capital, along with new strategic investors Waste Management, Inc (NYSE: WM) and Total Energy Ventures International, an affiliate of oil and gas company, Total SA.

“We have continued to be strong supporters of Agilyx’s ‘clean’, economically-attractive solution to the world’s vast waste plastic problem, but in today’s world of escalating oil prices and growing instability in oil-producing regions, their distributed waste-to-energy system makes even more sense,” says Brian Wawro, Sr. VP of Investments at Chrysalix and Portfolio Manager for Agilyx. “With this funding and the new investor syndicate involved, Agilyx’ growth will be rapidly accelerated.”

Agilyx’s patented waste plastic conversion technology converts waste plastic of all types into synthetic crude oil in a scalable, versatile, and environmentally-beneficial manner. The company is now rapidly rolling out its efficient conversion process in commercial applications, including building and operating commercial-scale systems, and is successfully marketing synthetic crude oil as a feedstock to large-scale petroleum refineries. The company deploys its systems around the world with organisations engaged in the management of plastic waste streams who are demanding an alternative to land-filling or incineration.

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