Accomplished leaders building GEs legacy. Chemical recycling pioneer Agilyx Corp. announced that it is leveraging its existing post-use plastic feedstock management system to create a new subsidiary company, Cyclyx International Inc. The company says that transaction is expected to close at the end of the second quarter of 2021. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. var aTags = gptValue.split(','); Transforming how industry solves its toughest challenges by bringing simplicity, speed and scale to digital transformation. The companies have 75 percent and 25 percent stakes, respectively, in Cyclyx, which will aggregate and preprocess plastic scrap to meet the technical requirements of a wide range of recycling processes while ensuring reliable supply to its customers.

Copyright 2022. Cascades says its forecasted 2021 capital expenditures will be between $450 million and $475 million, including $250 million for the Bear Island containerboard conversion project in Virginia. Additionally, Plourde says he predicts higher average old corrugated container (OCC) costs in the near-term future, increasing in line with usual seasonal trends of the period. He says, These results demonstrate good operational execution within the context of a challenging environment, benefits being realized from our ongoing margin improvement initiatives and the resiliency and dedication of our employees throughout the challenges of COVID-19.. vOut = vOut.toLowerCase(); Shipments of converted products increased by 1 percent on a sequential basis. It has accomplished this by harnessing its deep industry domain knowledge and expertise in the physical sciences to inform and create new digital capabilities with AL, ML, and predictive modeling and analytics at GEs Research Center. For its full fiscal year, Cascades reports it had sales of $5,157 million compared with $4,996 million in 2019. The company says the pilot project will be monitored for performance versus standard building materials. The Scrapper series scales are ideal for scrap yards, recycling centers. Learn how were delivering on our priorities. Grupo Gondi staff members are now on the job in Monterrey, Mexico, at the companys new containerboard mill. Creating the energy technologies of the future and improving the power networks that we depend on today.

We connect capital to infrastructure and deliver innovative financial solutions that help make the world work better. According to a news release from Cardinal Scale, the Scrapper uses high-tensile-strength, prestress concrete (PSC) deck weighbridge that is 10-feet wide with lengths up to 52-feet long. Over the last 16 years, through extensive research and commercial operations, Agilyx has developed the industrys largest database and predictive analytics around the chemical complexity embedded in waste plastics. The Cyclyx International LLC joint venture combines Agilyxs experience in converting end-of-life plastics through its pyrolysis process with Spring, Texas-based ExxonMobils technology expertise and large-scale petrochemical manufacturing network. Sealed air, Packaging, Recycling, Sustainability, Plastic - Last updated on The company says the average selling price in Canadian dollars was stable in the quarter. + 41 43 883 0396 Contact information for general inquiries and feedback.

Plourde says the Tissue segment generated a solid fourth-quarter adjusted OIBD margin of 10.5 percent in spite of ongoing challenging market conditions. He adds that the company predicts stable sequential performance for its Specialty Products segment, with higher average selling prices and good demand trends for consumer food packaging offsetting the slightly higher raw material costs. Cascades reports that its fourth-quarter performance was driven by a solid contribution from its Containerboard segment, fueled by stronger-than-expected demand on both the manufacturing and converting side. In 2019 Agilyx entered into a partnership with General Electric through its Licensing and Research divisions to develop artificial intelligence (AI), machine learning (ML) and predictive modeling (PM) and optimization tools that utilize Agilyxs extensive data and domain knowledge to significantly increase plastic recycling rates for all post-use plastics and create new recycling pathways. Explore the latest stories, news, downloads, and press tools. The company adds that its tissue operations in Pennsylvania ceased in December 2020. Honeywells UpCycle Advanced Recycling Tech Enters China. These initiatives are expected to contribute 1 percent annually to consolidated OIBD margins in both 2021 and 2022, regardless of external factors. Dows targets on eliminating plastic waste in the environment align well with Cyclyxs mission to increase the recycling rate of plastics from 10% to 90%..

Over the past 16 years, through extensive research and commercial operations, Agilyx claims to have developed the industrys largest database and predictive analytics around the chemical complexity embedded in waste plastics. Discover how our people & technology are solving global issues, improving lives, and changing industries. Kraft Heinz Co., which is co-headquartered in Chicago and Pittsburgh, has completed a pilot project that demonstrates the use of roof board made from recycled flexible packaging. For more information, follow us on social media and visit us at www.agilyx.com. A critical challenge facing the packaging industry is demonstrating the circularity of materials that are complex and difficult to recycle. GE's dedicated team, leading technology, and global reach and capabilities help the world work more efficiently, reliably, and safely. The company had net earnings per share of $2.04 in 2020 compared with 77 cents in 2019. GE Aviation is a world-leading provider of aircraft engines, systems and avionics. Processing & Packaging, Free newsletter GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GEs mission and deliver for our customers. { As a company striving to increase global plastic recovery, we have found that the data generated over our history can be used as a key tool to greatly expand and accelerate the recycling of post-use plastics, stated Joe Vaillancourt, CEO of Agilyx. dataLayer.push(dataLayerNews); This website uses cookies to provide you the best experience. By clicking the Accept button below, you are consenting to receive and store cookies from our site. Kraft Heinz continues to search for ways to make our packaging recyclable and to incorporate recycled content within our supply chain., Susan Graff, vice president of Michigan-based Resource Recycling Systems and a MRFF research director, adds, This Kraft Heinz project is a powerful example of environmental stewardship, reducing use of virgin materials by choosing roofing material made of recycled flexible plastic packaging. Working with recyclers, theyve provided a model for addressing expectations for full life cycle management of plastic while using an efficient, low-cost package for consumer product protection.. if (i!=(aTags.length-1)) dataLayerNews.related_tags = sanitize_gpt_value2("Sealed air, Packaging, Recycling, Sustainability, Plastic"); By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely.

According to its earnings report presentation, shipments within the Packaging Products and Containerboard segment decreased 3 percent sequentially, driven by a 6 percent decrease in manufacturing shipments that reflects 1 percent lower capacity utilization rate and higher integration rate in the current period. In a late January news release announcing the mills startup, Posada remarks, With this new paper mill, we will be [able to produce] more than 1 million tons of recycled paper per year, [adding] the component of lightweight paper, balancing the equation between paper and packaging to become totally integrated.. In the summer of last year, Agilyx announced that Cyclyx International Inc., which was formed in 2019, had signed a licensing agreement with Boston-based General Electric (GE) to use its artificial intelligence technology (AI) to jointly develop a set of AI tools to improve recycling options for end-of-life plastics through Cyclyxs customized demand approach, thereby increasing the recyclability of this material, says Kate Ringier, vice president, communications and government affairs, Agilyx GmbH. As a result, we have created Cyclyx so that Agilyx and many other companies can work together to help bridge that gap.. Plourde concludes that he expects 2021 to be a busy year for Cascades.

Kraft Heinz says the materials included 4-foot-by-8-foot boards, and 94 percent of each board was made of postconsumer recycled plastic and fiber. Over the coming months, Cyclyx will highlight these relationships through additional announcements. About Cyclyx International, LLC.

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. , a trading division of Informa PLC. We will also be finalizing modernization investments in our tissue converting operations, with all of these projects encompassed within our$450to$475 millioncapital program for 2021. Voices is a network for GEs US supporters interested in the companys impact in their communities and in issues that impact the company. VP, Communications & Government Affairs GE is now applying that model with Agilyx to deliver transformational improvements in plastics recycling. return vOut; The lifting lugs and a foundation template are included with each PSC truck scale to ease the installation. He concludes that results in European Boxboard are expected to remain stable as well, with higher volumes and a favorable exchange rate mitigating higher forecasted raw material and energy costs. The Companys ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through its materials science expertise and collaboration with its partners. If you do not accept the deployment of cookies or restrict them in any way, you will not be able to use all the interactive functions on our website. References to Dow or the Company mean Dow Inc. and its subsidiaries. In addition, Cardinal Scale offers single-source convenience and quality construction using stainless steel model CBC compression load cells. Our energy expertise spans from renewable wind energy to emission-reducing natural gas, as well as physical and digital solutions to modernize the grid connecting it all. Stay up to date with the latest resources for the planned spin-offs. Cascades Inc., Kingsey Falls, Quebec, has reported strong financial results for its fourth quarter and 2020 fiscal year. Sealed Air is a global provider of packaging solutions. The addition of Exxon to Cyclyx does not impact the work being done with GE, she adds. } Cyclyx is a post-use plastic feedstock supply chain consortium working with industry participants to develop recycling solutions for all types of post-use plastics. Cyclyxs aim is to transform the current supply chain and help accelerate the growth of the advanced recycling industry by connecting companies looking for plastic waste solutions with customers engaged in recycling initiatives, according to a news release issued by Agilyx. We quickly discovered that our process was greatly needed by others in the advanced recycling as well as mechanical recycling industries. Learn more about our culture, businesses, and life at GE. Web page addresses and e-mail addresses turn into links automatically. Agilyx Launches Feedstock Management Company Cyclyx International, A Powerful Tool for Reverse Engineering of Polymer Films & Other Materials, High-load ball screws bring greater force, larger parts to electric injection molding, Achieve 20 times greater efficiency at color and material changeover, New Rapid-Cure, Self-Adhesive LSR Forms Firm Bond with Polycarbonate, Massless Prototyping an Energy-Saving Alternative to 3D-Printed Physical Parts, Polymers Enhance Tractor Functionality and Efficiency, Plastics Exec Recruitment Firm Grows with Industry, Hanwha Delivers Carbon-Fiber-Reinforced Hydrogen Tanks to Shell, Allowed HTML tags:

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Sealed Air has pledged to advance or design 100% of its solutions to be recyclable or reusable by 2025 and have those solutions contain on average 50% recycled or renewable content. All rights reserved. Together with our customers, were proving that no one is ever limited to only affordable, reliable, or sustainable energy. A culture of integrity, compliance, safety, and respect for human rights, while reducing our environmental footprint. An early February article by Fastmarkets RISI indicates the firm produced its first reel Jan. 5. The Scrapper series comes in capacities ranging from 25 tons to 45 tons, which Cardinal Scale says provides an excellent low-cost scale for midsized trucks and pickup trucks pulling trailers.. He continues, The European Boxboard segment announced the acquisition of Papelera del Principado S.A. (Paprinsa) and three affiliated companies will strengthen and consolidateRenode Medici's competitive positioning within European recycled boxboard markets and is expected to close at the end of the first quarter of 2021.. Agilyx is the pioneer in chemically recycling difficult-to-recycle post-use plastic streams into a variety of products including circular virgin like plastics, chemical intermediates, and fuels. Learn about governance at GE, including the latest Proxy Statement and information about the GE Board of Directors. Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Cyclyx platform is designed as an industry consortium comprising partners across the value chain, which will enable Agilyx and GE to have much broader impact across industry sectors with innovative plastic recycling solutions. { The companys mission is to increase the recycling rate of plastics from 10% to 90% by using Cyclyxs expertise in understanding the chemical composition of post-use plastic in collaboration with industry partners to create a new, innovative supply chain. Cyclyxs aim is to transform the current supply chain and help accelerate the growth of the advanced recycling industry by connecting companies looking for plastic waste solutions with customers engaged in recycling initiatives, according to a news release issued by Agilyx. All Rights Reserved. $(document).ready(function() { For more information about our use of cookies, please view our Privacy Policy. In its earnings presentation, the company reports shipments in this segment increased 5 percent on a sequential basis in the fourth quarter of 2020, driven by a 7 percent increase in shipments of converted products in all market segments, which is a reflection of weaker shipment levels in the prior quarter related to COVID-19s impact on demand levels, primarily for away-from-home converted products. Tune in or catch up on GEs latest investor events and reports. COVID-19 caused delays, but Mexico City-based Grupo Gondi has reported that its new 400,000-metric-tons-per-year containerboard mill, fed with scrap paper, began producing its first rolls in January. Remember, you can manage cookies in your browsers settings. Additionally, Cascades says its Specialty Products and European Boxboard segments generated slightly lower results in the quarter. State of the Municipal Recycling Industry, Recycling Today Global Edition back issues, SSIs Pri-Max Primary Reducer is the last preshredder youll ever need, 2022 GIE Media, Inc. All Rights Reserved. Trademark of Dow or an affiliated company of Dow, [{"values":[{"value":"Portugus-Portuguese","languageCode":"pt-br","link":"javascript:void(0);"},{"value":"-Japanese","languageCode":"ja-jp","link":"javascript:void(0);"},{"value":"-Chinese","languageCode":"zh-cn","link":"javascript:void(0);"},{"value":"English","languageCode":"en-us","link":"javascript:void(0);"},{"value":"Espaol-Spanish","languageCode":"es-es","link":"javascript:void(0);"},{"value":"-Korean","languageCode":"ko-kr","link":"javascript:void(0);"}],"label":"BR","default":"pt-br"},{"values":[{"value":"Portugus-Portuguese","languageCode":"pt-br","link":"javascript:void(0);"},{"value":"-Japanese","languageCode":"ja-jp","link":"javascript:void(0);"},{"value":"-Chinese","languageCode":"zh-cn","link":"javascript:void(0);"},{"value":"English","languageCode":"en-us","link":"javascript:void(0);"},{"value":"Espaol-Spanish","languageCode":"es-es","link":"javascript:void(0);"},{"value":"-Korean","languageCode":"ko-kr","link":"javascript:void(0);"}],"label":"JP","default":"ja-jp"},{"values":[{"value":"Portugus-Portuguese","languageCode":"pt-br","link":"javascript:void(0);"},{"value":"-Japanese","languageCode":"ja-jp","link":"javascript:void(0);"},{"value":"-Chinese","languageCode":"zh-cn","link":"javascript:void(0);"},{"value":"English","languageCode":"en-us","link":"javascript:void(0);"},{"value":"Espaol-Spanish","languageCode":"es-es","link":"javascript:void(0);"},{"value":"-Korean","languageCode":"ko-kr","link":"javascript:void(0);"}],"label":"CN","default":"zh-cn"},{"values":[{"value":"Portugus-Portuguese","languageCode":"pt-br","link":"javascript:void(0);"},{"value":"-Japanese","languageCode":"ja-jp","link":"javascript:void(0);"},{"value":"-Chinese","languageCode":"zh-cn","link":"javascript:void(0);"},{"value":"English","languageCode":"en-us","link":"javascript:void(0);"},{"value":"Espaol-Spanish","languageCode":"es-es","link":"javascript:void(0);"},{"value":"-Korean","languageCode":"ko-kr","link":"javascript:void(0);"}],"label":"US","default":"en-us"},{"values":[{"value":"Portugus-Portuguese","languageCode":"pt-br","link":"javascript:void(0);"},{"value":"-Japanese","languageCode":"ja-jp","link":"javascript:void(0);"},{"value":"-Chinese","languageCode":"zh-cn","link":"javascript:void(0);"},{"value":"English","languageCode":"en-us","link":"javascript:void(0);"},{"value":"Espaol-Spanish","languageCode":"es-es","link":"javascript:void(0);"},{"value":"-Korean","languageCode":"ko-kr","link":"javascript:void(0);"}],"label":"ES","default":"es-es"},{"values":[{"value":"Portugus-Portuguese","languageCode":"pt-br","link":"javascript:void(0);"},{"value":"-Japanese","languageCode":"ja-jp","link":"javascript:void(0);"},{"value":"-Chinese","languageCode":"zh-cn","link":"javascript:void(0);"},{"value":"English","languageCode":"en-us","link":"javascript:void(0);"},{"value":"Espaol-Spanish","languageCode":"es-es","link":"javascript:void(0);"},{"value":"-Korean","languageCode":"ko-kr","link":"javascript:void(0);"}],"label":"KR","default":"ko-kr"}], If you are using Internet Explorer (IE), please switch to another browser for the best visual experience, Dow joins Cyclyx as consortiums newest member, addressing climate change and plastic waste. This year, Cascades has announced planned progressive and permanent closure of its tissue operations at its Laval plant in Quebec by June. The overarching goal of Cyclyx is to dramatically increase the recyclability of post-use plastics with a priority on fully circular pathways.

GE (NYSE:GE) drives the world forward by tackling its biggest challenges: Energy, health, transportationthe essentials of modern life. Dows sustainability journey began more than 30 years ago, and today the company is delivering against its 2025 Sustainability Goals, its third generation of 10-year goals, developed in alignment with the United Nations Sustainable Development Goals, and also recently announced additional targets directed specifically at addressing climate change and plastic waste. www.ge.com. Cyclyx International Inc. aims to dramatically increase the recyclability of post-use plastics with a priority on fully circular pathways. Subscribe, By Jim Cornall On its website, Grupo Gondisays it has seven mills in total, including a large complex in Guadalajara. Answers to popular and relevant inquiries. As part of the agreement, Cyclyx will help supply plastic feedstocks for ExxonMobils advanced recycling projects. Cyclyx International, LLC, a consortium-based supply chain innovation company aiming to increase the recycling rate of plastic from 10% to 90%, has announced Sealed Air has joined the consortium. Cyclyx also will assist in the development of new supply chains that will aggregate and preprocess larger volumes of post-use plastics than current systems can support. Cyclyx International, LLC. He adds that prices for white recycled fibers will likely remain stable, while virgin pulp prices are expected to increase given recent moves in index pricing. He says raw materials have been readily available, and we do not foresee any changes in this regard.. for (var i=0; i < aTags.length; i++) Copyright Dow (1995-2022). By embracing diverse teams and perspectives, we are better equipped to build a world that works. In its fourth quarter, the company had an operating income of $109 million compared with $73 million in the third quarter of 2020 and an operating loss of $1 million in the fourth quarter of 2019. Our test project highlights the companys commitment to sustainable packaging and the priority it places on its environmental, social and governance commitments. Copyright - Unless otherwise stated all contents of this web site are 2022 - William Reed Ltd - All Rights Reserved - Full details for the use of materials on this site can be found in the Terms & Conditions, Related topics: As we take on new datasets and challenges with new consortium partners, the AI team at GE Research will be able to build more robust analytics tools that not only expand industry applications but also lead to further improvements in recycling solutions, said Pat Patnode, President and CEO, GE Licensing. In 2019 Agilyx entered into a partnership with General Electric to develop artificial intelligence (AI), machine learning (ML), and predictive modeling (PM) and optimization tools that leverage Agilyxs extensive data and domain knowledge to significantly increase plastic recycling rates for all post-use plastics, creating new recycling pathways. Cyclyx was founded by Agilyx Corporation ("Agilyx"), a leader in advanced chemical recycling, together with ExxonMobil Chemical Company, one of the largest chemical companies in the world. With the Tissue segment, he says stronger-than-expected volumes in December, usual seasonal softness in the first quarter of the year and unfavorable demand impact on away-from-home products related to the pandemic will likely translate into weaker sequential performance in the segment. Sign up to our free newsletter and get the latest news sent direct to your inbox. The company said it is investing in circularity, including advanced recycling technologies to collect, sort, and recycle packaging materials. Posada says much of the board produced will likely be sold in Mexico, but export options have been explored for sales to the United States, South America and even China. Access important shareholder information. Cyclyx is looking for member companies including retailers, brand owners, waste management companies, petrochemical companies, municipalities and others looking for solutions to address plastic waste in the environment. GE noted that it has successfully developed and applied innovative digital solutions across its major industry sectors in aviation, energy, healthcare, and transportation that have delivered more efficient products and services and created hundreds of millions of dollars in new business value for GE and its customers. Leveraging Agilyxs expertise in plastics recycling and the scale of partners like ExxonMobil, we aim to create a lasting and impactful change., We see Cyclyx as helping to fill an important missing link in the plastics recycling value chain that is needed for advanced recycling solutions to scale, Karen McKee, president of ExxonMobil Chemical Co., says. In Containerboard, we announced details of our strategicBear Islandconversion project in mid-October and helped to de-risk the project with a concurrent$125 millionequity issuance offering.

We initially developed Cyclyx to help source plastic feedstocks appropriate for facilities we are currently developing on three different continents. Were excited to welcome Dow to Cyclyx and Mary-Jane to the executive advisory board, stated Joe Vaillancourt, CEO of Cyclyx. dataLayerNews = {}; This is a significant milestone for Agilyx and Cyclyx as it marks the beginning of an entirely new approach to plastic waste recovery, says Tim Stedman, chief executive officer at Agilyx, in a news release about the joint venture. Cyclyx redirects more difficult to recycle plastic into recycling by tapping into extensive data on the chemical composition of post-use plastics and using AI and predictive analytics to put it to use. It has accomplished this by harnessing its deep industry domain knowledge and expertise in the physical sciences to inform and create new digital capabilities with AI, ML, and predictive modeling and analytics at GEs Research Center. (Cyclyx) is a post-use plastic feedstock management company working with industry participants to develop innovative recycling solutions for all types of post-use plastics. The pilot was made possible through the companys participation in Materials Recovery for the Future (MRFF), which is a nonprofit research collaborative that is working to prove technical and economic feasibility to collect, sort, bale and recycle flexible plastic packaging. Kate Ringier Their membership will be a great addition in our effort to help drive the recycling rate of plastic from 10% to 90%.. Contact us to have your plastic waste streams recycled at [emailprotected].

About Dow As a leading materials science company, Dow is at the forefront in driving the transformational change that is needed to tackle the existential threats of climate change and environmental degradation. function sanitize_gpt_value2(gptValue) The companies have 75 percent and 25 percent stakes, respectively, in Cyclyx, which will aggregate and preprocess plastic scrap to meet the technical requirements of a wide range of recycling processes while ensuring reliable supply to its customers.

We know this cannot be accomplished alone, and are proud to join this consortium that brings together key stakeholders to collaborate for better circular economy solutions. , Joe Vaillancourt, CEO of Cyclyx, said, Sealed Airs commitment to advancing a circular economy for plastic and dedication to helping its customers to lower their carbon footprints are in line with the mission of everything that Cyclyx is trying to do. We build intelligent devices, data analytics, applications and services to enable healthcare practitioners to deliver care more efficiently and with better outcomes. GE has successfully developed and applied innovative digital solutions across its major industry sectors in aviation, energy, healthcare and transportation that have delivered more efficient products and services and created hundreds of millions of dollars in new business value for GE and its customers. var reg = new RegExp('\\W+', "g"); contact, 14-Apr-2022 Read the latest GE financial news releases and stories. We share societys concern about plastic waste, and our new joint venture is an important step in our efforts to develop advanced recycling technologies and approaches to help meet demand for certified circular polymers.. Our mission at Agilyx is clearto help solve the issue of plastic waste., This joint venture represents an entirely new proposition about the way we handle plastic waste, adds Joe Vaillancourt, the newly appointed chief executive officer of Cyclyx International LLC. The company says it also will be progressing on its conversion of the White Birch Bear Island paper mill in Ashland, Virginia, which will produce lightweight, 100-percent-recycled linerboard and medium for the North American market. The company says operating income before depreciation and amortization (OIBD) was $181 million in the fourth quarter of 2020 compared with $154 million in the third quarter of 2020 and $76 million in the fourth quarter of 2019. Explore a career with us. The company says its net debt was at $1,679 million as of Dec. 31, 2020, compared with $1,982 million as of Sept. 30, 2020, which Cascades says reflects solid cash flow from operations. In 2020, total capital expenditures paid net of disposals were at $195 million compared with $231 million in 2019.

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