Agilyx Announces Executive and Board Changes in Preparation for a Listing

PORTSMOUTH, N.H., July 7, 2020 /PRNewswire/ -- Agilyx AS ("Agilyx"), a leader in chemical recycling, today 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.  

Peter Norris, the Chairman of Virgin Group, has assumed the Chairman position at Agilyx. Mr. Norris has served on the Agilyx Board since 2014.

Effective August 17th, Tim Stedman will join the company as Chief Executive Officer. Mr. 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.  Mr. Stedman will be based in Switzerland.

Agilyx's 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.  Mr. Vaillancourt will be based in Portsmouth, NH.

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 said: "This is an exciting time for Agilyx. I have been part of commercializing 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 also welcomes Preben Rash-Olsen as a new Board Member. Mr. Rasch-Olsen is currently the Investment Director at Carucel Holding, a Norwegian family office. Prior to this position, Mr. Rasch-Olsen worked as an equity analyst in Svenska Handelsbanken and Carnegie for a combined 18 years covering companies within the renewable energy, retail and consumer goods sectors.  "We welcome Preben. His expertise as a public company analyst and now principal investor brings a valuable perspective to Agilyx´s Board," said Mr. Norris.

About Agilyx CorporationAgilyx is the pioneer in chemically recycling difficult-to-recycle post-use plastic streams into a variety of products including circular virgin like plastics, chemical intermediates, and fuels. The company has not only developed these first-to-market products, but has also developed a feedstock management company Cyclyx International, Inc. and is working with many waste service providers, municipalities, petro-chemical, and many brand and retail companies to develop closed-loop advance recycling solutions for mixed waste plastics. Contact us to have your plastic waste streams recycled at [email protected]. For more information, follow us on social media and visit us at www.agilyx.com.

Media ContactJohn Desmarteau, Director of Communications and Government Affairs[email protected](503) 597-6406

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