AsiaNet 83914

PORTLAND, Oregon, May 5, 2020 /PRNewswire=KYODO JBN/ --

Lucite International (LI), together with Agilyx Corporation (Agilyx), is

working to deliver a significant contribution to the Circular Economy for PMMA

(initially in Europe) with the support of LI's parent company, Mitsubishi

Chemical Corporation (MCC).

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MCC's vision is based on "the sustainable well-being of people, society and our

planet Earth" – a philosophy known as KAITEKI. Delivering a truly circular

economy is a key part of achieving that. LI has been creating a value chain

that:

(i) Gives manufacturers of PMMA products the ability to have their products

recovered and recycled back through MMA into PMMA at the end of

their life.

(ii) Offers end consumers fully recycled acrylic products that have been

produced from PMMA recyclate.

PMMA is one of the very few plastics that can be chemically de-polymerised and

purified to produce a virgin quality monomer (MMA). This is the basic ethos

behind achieving a truly circular economy.

LI is increasing the pace of its activity and is pleased to announce an

exclusive agreement with Agilyx to use the Agilyx depolymerisation technology

to define the most suitable chemical recycling infrastructure for recycling

PMMA.

Phil Bailey, General Manager EMEA SBU Mitsubishi Chemical Corporation, says:

"We are delighted to be leading this project within MCC and are committed to

ensuring PMMA becomes a fully sustainable material. We know from our customers

that there is great demand for this, driven by societal and environmental

concerns. As global leaders in the MMA industry, we have a responsibility to

take the lead in this area.

"We are excited to be working with Agilyx on the depolymerisation aspects and

believe that with the expertise of both companies, alongside other stakeholders

in future, we will be able to deliver an industry leading, all-encompassing

solution for the circular economy."

Joe Vaillancourt, Chief Executive Officer of Agilyx Corporation says:

"Lucite International and Mitsubishi Chemical continue to demonstrate their

leadership in sustainable manufacturing through the advancement of recycling

initiatives of their products. We are honoured to be working with them to

deliver fully recycled material for their products."

"We take pride in being a leader in chemical recycling and view this

collaboration as a way to expand the circular economy for plastics through this

new chemical pathway."

Lucite International (LI) is working with Agilyx with the aim of bringing this

to commercial realisation by 2023. In the interim, LI will be working with all

key stakeholders - including MMA customers, PMMA customers, manufacturers,

distributors, fabricators and recyclers - to develop a robust value chain for

all.

ABOUT LUCITE INTERNATIONAL

Lucite International is a part of Mitsubishi Chemical Corporation, the global

market leader in the production of MMA and PMMA. For over 85 years, we have

been focused on the methacrylate molecule - the building block of all acrylic

materials. With operations across EMEA, APAC and the USA, our MMA Monomers,

PMMA Polymers and Specialty Polymers & Resins benefit people's lives worldwide.

ABOUT AGILYX

Agilyx is the leader and pioneer in chemically recycling difficult-to-recycle

post-use plastic streams into high value low carbon circular feedstocks and

fuels. The company has developed a system capable of recycling PMMA back into

MMA, the building block of PMMA. Agilyx has also commercialized a technology

that converts polystyrene waste into styrene monomer, which is then used to

remake new polystyrene products. Agilyx is working with waste service

providers, municipalities, refiners, and private and public enterprises to

develop closed-loop industrial solutions for mixed waste plastics.

For more information visit us at www.agilyx.com.

Media Contact

John Desmarteau, Director of Communications and Government Affairs

jdesmarteau@agilyx.com

+1-(503)-597-6406

SOURCE: Agilyx