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Nutter Represents Agilyx in Final Investment Decision for Second Cyclyx Circularity Center
Print PDFNutter advised Agilyx Corporation and its parent company Agilyx ASA (OSE: AGLX; OTCQX: AGXXF) and Cyclyx International, LLC, a post-use plastic-to-feedstock innovator and joint venture among Agilyx, ExxonMobil, and LyondellBasell, in reaching a final investment decision for a second Cyclyx Circularity Center (CCC2). Located in the Dallas/Fort Worth, Texas area, the new facility will help to create further necessary infrastructure for a plastic circular economy. The Nutter team was led by Michael Kushnir and Matt Doring.
Together, Agilyx, ExxonMobil, and LyondellBasell are investing $135 million into Cyclyx to fund the construction and operations for CCC2, which has an expected startup in the second half of 2026. Once operational, the facility will have the capacity to produce approximately 300 million pounds of plastic waste feedstock per year for customers using mechanical and advanced recycling technologies. Agilyx's $67.5 million investment reflects its 50% interest in Cyclyx and is fully funded through recent equity and green bond financing transactions. Read more about the transaction.
Nutter has a longstanding relationship with Agilyx, having represented the company in its joint venture with ExxonMobil Chemical Corporation to form Cyclyx International, LLC. Subsequently, Nutter served as legal counsel to Agilyx and Cyclyx in connection with LyondellBasell acquiring 25% equity ownership in Cyclyx in a landmark plastic waste recycling joint venture that helped lay the foundation for a nationwide plastic circular economy. Nutter recently advised Agilyx in connection with the U.S. portion of a successful placement of a senior secured green bond issue of $50 million (USD) that was used to fund the construction of CCC2.
Nutter’s Corporate Department represents domestic and international corporations, publicly traded and privately-held companies, private equity firms, nonprofit institutions, and family-owned businesses in a wide variety of domestic and cross-border transactions. The firm’s attorneys advise on significant transactions in every major industry sector, including technology, life sciences, banking, professional services, real estate, energy, medical devices, health care, and manufacturing. Nutter’s corporate practice handles the full range of M&A and private equity transactions, including representing buyers and sellers in auctions processes, mergers, asset sales, stock purchases, leveraged buyouts, roll-ups, joint ventures, PIPEs, going private transactions, tender offers, and proxy contests.
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Nutter is a Boston-based law firm that provides legal counsel to industry-leading companies, entrepreneurs, institutions, and foundations, across the country and the world. The firm’s corporate, intellectual property, litigation, real estate, employment, tax, and private client practices are national in scope. For more information, please visit www.nutter.com and follow the firm on LinkedIn.
