Virgin Group and Agilyx aim to reuse plastic waste to produce synthetic crude oil that will then be refined into a lower carbon fuel. Plastic waste that otherwise would be un-recycled will be diverted from landfill and will help broaden options in the market for lower carbon fuels from the limited range available today.
Virgin Group wants to provide lower carbon fuel solutions to the global-market and expects Virgin Atlantic and other Virgin companies to be early adopters, as part of the Group’s transitional plans of achieving net zero by 2050.
Virgin Group intends to work with Agilyx—in which it has been an investor in for many years—on the development of the production facilities based on its unique conversion technology. Cyclyx, an innovative feedstock company that is majority owned by Agilyx, will source the plastic waste used for the fuel in the first facility.
The first waste-to-fuel location is planned to be in the US, with an aspiration to roll-out similar plants in other countries, including the UK.
Agilyx’s proprietary technology is able to break down plastic waste through a pyrolysis process. Pyrolysis converts mixed waste plastic into a synthetic crude oil which, once further refined, can be used as a lower carbon fuel.