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Agilyx lands $22M

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High Five
Thursday, March 31, 2011

Tigard-based Agilyx Corp. landed $22 million in venture capital for its method of turning waste plastic into crude oil.

The Agilyx system produces oil at about $45 per barrel, much less than the current worldwide average of $110 per barrel.

Founded in 2004 when it was known as Plas2Fuel, 30-person Agilyx has developed a technology that efficiently melts waste plastics, turning it from a solid to a liquid and then to a gas that is condensed into a synthetic crude oil.

The company is credited with being the first to sell crude made from waste plastics to a commercial refinery.

Read more at Sustainable Business Oregon.

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