PORTSMOUTH, N.H., July 7, 2020 — Agilyx AS, a chemical recycling leader, announced leadership changes ahead of its anticipated year-end public listing in the Nordic region.

Peter Norris, Virgin Group's Chairman, has taken the Chairman position at Agilyx, where he has served on the board since 2014.

Tim Stedman will become Chief Executive Officer effective August 17th. Stedman previously held the Senior Vice President of Strategy and Corporate Development role at Trinseo, a global plastics and rubber manufacturer. He brings over two decades of experience from ExxonMobil Chemical in senior operational and development positions. He will be based in Switzerland.

Current CEO Joe Vaillancourt will transition to President of Cyclyx International, Inc., an Agilyx-affiliated company focused on plastic feedstock management. Vaillancourt will remain based in Portsmouth, New Hampshire.

Norris stated: "Together they provide world-class skills in waste management and chemical/plastics industries, central to Agilyx's strategy."

Vaillancourt remarked: "I look forward to concentrating on the plastics feedstock side, integral to chemical recycling."

Preben Rasch-Olsen joins as a new Board Member. He serves as Investment Director at Carucel Holding, a Norwegian family office, and previously worked as an equity analyst at Svenska Handelsbanken and Carnegie for 18 years, covering renewable energy, retail, and consumer goods sectors.

About Agilyx

Agilyx pioneers chemical recycling of difficult-to-recycle post-use plastics into circular virgin-like plastics, chemical intermediates, and fuels. The company developed Cyclyx International, Inc., partnering with waste providers, municipalities, petrochemical companies, and retailers on closed-loop recycling solutions.