Sponsored by George Fox University
Home Back Issues October 2011 Trash to cash: Agilyx turns waste plastic into crude oil

Trash to cash: Agilyx turns waste plastic into crude oil

| Print |  Email
Articles - October 2011
Thursday, September 22, 2011
Article Index
Trash to cash: Agilyx turns waste plastic into crude oil
Page 2
Page 3

 

Agilyx
CEO: Chris Ulum
Founded: 2004
Employees: 35
Capital raised: more than $26 million
Strategic partners: Waste Management, Total Fuels, Kleiner Perkins
Patents: one issued (August 2010), five pending
Alternative energy subsidies: None

The second step was to prove that their system was commercially viable. This took some maneuvering. Ulum reels off the major milestones in rapid succession, from memory. Having proved that they could make good oil from bad plastic, they then proved that:

  • Someone would buy that oil at a good price;
  • Patents would protect their technology;
  • The appropriate regulators would issue the necessary permits;
  • Top investors such as Kleiner Perkins of Silicon Valley would back the business;
  • Dominant handlers of oil and waste (French oil giant Total Fuels and U.S. waste powerhouse Waste Management) were willing to sign contracts to get in on the opportunity.

“We’ve done all of those things over the past 36 months,” says Ulum. “Now we’re in a position to go out and execute.”

Agilyx sold its first truckload of oil to U.S. Oil & Refining in Tacoma, Wash., in December 2009. After two and a half years of production, the company is shipping as much oil to Tacoma in a week as it used to produce in a quarter. But Ulum’s plan never involved creating a huge production plant in Tigard. Instead, the company plans to help partners who are already in the waste industry to install plastic-to-oil systems at recycling plants, landfills and waste transfer stations in the U.S. and abroad.

 



 

Comments   

 
Sustainable   Business
0 #1 Right on!Sustainable Business 2011-10-04 14:31:34
What a terrific idea, good job guys. I'm a little unclear what position you are going for in the market (factory operator, technology leaser, refinery contract negotiator?) but I am sure you will figure it out.
Quote | Report to administrator
 

More Articles

OB Video: Building trade ties with the EU

News
Monday, June 16, 2014
BritEmbCampionBY KIM MOORE | OB RESEARCH EDITOR

The Oregon economy could get a boost from a new trade agreement being negotiated between the U.S. and the European Union.


Read more...

Portland: Where young people go to work?

News
Friday, June 06, 2014
UntitledBY KATIE AUSBURGER | OB GUEST CONTRIBUTOR

How to build a hipster-friendly work environment.


Read more...

The business of running a food cart

News
Thursday, June 05, 2014
OBM1BY HANNAH WALLACE | OB BLOGGER

What does it take to launch and run one of these mobile food businesses?  


Read more...

The role of higher education as K-12 underperforms

Contributed Blogs
Friday, May 30, 2014
ThumbChalkboardBY DEBRA RINGOLD | OB GUEST CONTRIBUTOR

Since 1970 the performance of our public education system has steadily deteriorated.


Read more...

13 West Coast seafood species now 'sustainable'

News
Tuesday, June 03, 2014

Fishing OrBiz Fishing 0357 ADOBErgbCiting the transition to catch shares management as a key to rebuilding stocks and reducing bycatch, 13 species caught by the West Coast trawl fishery today earned designation from the Marine Stewardship Council (MSC) as sustainable.


Read more...

Blips and trends in the housing market

News
Thursday, June 26, 2014
062614 thumb realestateBY ERIC FRUTS | OB BLOGGER

Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?


Read more...

Creating a culture of compliance

Business tips
Thursday, June 19, 2014
DataBY MONICA ENAND | GUEST CONTRIBUTOR

Nine tips for building habits among employees to respond when needed.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS