U.S. Chemical Recycler Agilyx Completes Acquisition of GreenDot

On October 20, Specialized Plastics Vision learned that the American chemical recycling company Agilyx has completed the acquisition of a 44% stake in GreenDot. This transaction was initially announced in July of this year.

GreenDot is a waste management company based in Germany, operating a well-known dual recycling system for packaging waste in Germany. Its business in Europe handles over 400,000 tons of plastic annually.

The cost of the transaction is 520 million euros, Agilyx raised 320 million euros through newly issued shares and paid the remaining 200 million euros in cash.

GreenDot stated that this acquisition sends a clear signal of innovation and strategic foresight in the field of plastic packaging waste recycling.

"We have a balanced positioning across the entire value chain, which brings us a diversified business portfolio, allowing us to strategically invest in the most promising areas of the industry even during challenging times," said Laurent Auguste, CEO of GreenDot. "We firmly believe that the plastic circular economy is a key pillar of Europe's strategic autonomy. We will continue to enhance our capacity and cleverly integrate key links of the value chain to drive the large-scale implementation of the plastic circular economy."

In addition, the two companies have recently signed a memorandum of understanding to plan for the procurement of waste polystyrene (PS) materials for chemical recycling.

At the time of this transaction, the EU is closer than ever to allowing chemical recycled materials to be counted towards recycling targets.

Agilyx and Circular Resources, the parent company of Green Dot Group, recently established a company called Plastyx, aimed at sourcing feedstock for the chemical recycling business in Europe.

"We have a great opportunity to quickly build a leading pan-European plastic recycling platform and look forward to working with our new colleagues and shareholders at GreenDot to achieve our goals," said Agilyx CEO Ranjeet Bhatia.