General Electric (NYSE:GE)
Historical Stock Chart
3 Months : From Nov 2019 to Feb 2020
Bringing artificial intelligence, machine learning and predictive modeling to chemical recycling
Aiming to improve recycling of post-use plastics to >95%
PORTLAND, Oregon, Dec. 11, 2019 /PRNewswire/ -- Imagine a world where plastic materials would never go to waste. Agilyx Corporation ("Agilyx"), the leader in chemical recycling of post-use plastics back into plastics chemicals and low carbon fuels, today announced a dynamic collaboration in artificial intelligence (AI) technology with the General Electric Company through its Licensing business unit that would bring the world closer than ever to making this green dream possible. Combining Agilyx's deep domain experience in chemical recycling with GE's vast experience in the application of Industrial AI, the two companies are aiming to increase the chemical recyclability of all post-use plastics from the current 10% to over 95%.
This announcement is the result of a year-long, successful effort to assess GE's advanced modeling technology developed by GE Research, and its applicability to the database of chemical conversions of post-use plastics that Agilyx has amassed over the last 15 years. Together, the companies can greatly improve recycling rates by deploying an innovative set of artificial intelligence ("AI") technologies, including machine learning ("ML"), predictive modeling ("PM") and optimization tools, in combination with other supply chain innovations in partnership with a growing number of diverse leaders in the waste and recycling, petrochemical, consumer goods products and retail industries. Additional information about these relationships will be shared throughout the coming months.
"For over 20 years I´ve had the opportunity to work at the nexus of innovation in waste management, finding ways to mine valuable resources while developing environmental stewardship. The main challenge to scaling solutions is effectively managing the variability and complexity of the materials and contaminants within diverse waste streams. This is certainly true for plastic feedstocks for chemical recycling technologies," remarked Joe Vaillancourt, Agilyx's Chief Executive Officer. "The Agilyx team has developed deep domain expertise and built the industry´s largest database of chemical recycling characterizations analyzing the relationship between thousands of plastic waste sources, processing parameters and end products. By leveraging GE's expertise in AI, ML and PM, we are deploying a toolset for global use," Vaillancourt continued. "Consumers can utilize plastic as a valuable renewable resource creating a true circular economy for plastics—a material that we all have come to depend on in our daily lives."
"This collaboration is a wonderful example of how we're connecting GE's vast technology portfolio with world-class industry partners like Agilyx to improve the environment," said Pat Patnode, President of GE Licensing. "Armed with GE's digital technologies, Agilyx will add the critical pieces they need to turn plastics into a sustainable, dependable carbon source."
"Across GE's diverse set of industries in aviation, energy and healthcare, we have successfully developed and applied Industrial AI and machine learning solutions to create hundreds of millions of dollars in new business value by improving the efficiency and performance of our assets and manufacturing processes," said Colin Parris, Vice President of Software Research for GE Research. "Together with Agilyx, we can do the same for the Plastics industry by integrating Agilyx's deep industry domain knowledge with our AI, machine learning and modeling techniques to bring recycling almost entirely full circle."
About Agilyx Corporation
Agilyx, based in Portland, Oregon, is the leader and pioneer in chemically recycling difficult-to-recycle post use plastic streams into high value low carbon circular feedstocks and fuels. The company has developed the first system capable of recycling polystyrene waste into styrene monomer, which is then used to remake new polystyrene ("PS") products. The company also has commercialized a technology that converts mixed plastics to high quality crude oil. From these first to market products, the company has since expanded its product platform into a broad range of customized low carbon chemicals, polymers and fuels. Agilyx is working with waste service providers, municipalities, refiners, and both private and public enterprises to develop closed-loop industrial solutions for mixed waste plastics.
Contact us to have your plastic waste streams recycled at email@example.com. For more information, follow us on social media and visit us at www.agilyx.com.
GE (NYSE:GE) drives the world forward by tackling its biggest challenges: Energy, health, transportation—the essentials of modern life. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE's mission and deliver for our customers. www.ge.com
Logo - https://mma.prnewswire.com/media/737450/Agilyx_Logo.jpg