Agilyx ASA Expands Shareholding in GreenDot Global to Major Stake Above 50%

Agilyx ASA Acquires Majority Ownership in GreenDot Global

Agilyx ASA, a key player in the plastic recycling industry, has announced a significant increase in its ownership stake in GreenDot Global S.à.r.l., a European platform specializing in the sourcing, sorting, and supplying of plastic waste for recycling. With this move, Agilyx has elevated its shareholding from 46% to a commanding 50.1%.

This acquisition is more than a mere stock purchase—it marks a pivotal point in Agilyx's strategy to consolidate its financial statements with GreenDot's operations. This consolidation is expected to offer Agilyx shareholders a clearer insight into the financial health of their growing enterprise, which is poised to generate an estimated revenue of approximately EUR 375 million and over EUR 22 million in EBITDA for the fiscal year 2026.

The transaction, which involves the joint acquisition of an additional 19.1% of shares currently held by Circular Resources along with Lafor, illustrates Agilyx's intention to strengthen its market position in the recycling sector. Lafor's shareholding will also see an increase from 34.9% to 49.9%.

Moving forward, Agilyx's CEO Ranjeet Bhatia will assume the position of Chairman at GreenDot, indicating a solidified leadership role as they navigate the future of recycling in the European market.

To facilitate this transaction, Agilyx has sought a financing facility amounting to EUR 4.7 million, structured with an appealing interest rate of 7%. This funding model ensures minimal impact on Agilyx's cash flow in the immediate term, allowing the company to pursue its operational goals without constraints.

Peter Norris, the Chairman of the Agilyx Board, expressed his enthusiasm for the development, stating, "Lafor has been a valuable partner at GreenDot, and we're excited to continue working together to build the EU's leading waste plastic recycling platform. Consolidating GreenDot's accounts will provide our shareholders better financial transparency and strengthen our partnership."

This transaction has been authorized by the required two-thirds majority of voting bonds under Agilyx's EUR 40 million Subordinated Convertible Bonds 2025/2028. Documentation for the written resolution is anticipated to be dispatched shortly, with the completion of the transaction expected to occur today, fulfilling all necessary escrow requirements under Norwegian securities regulations.

About Agilyx

Agilyx ASA has cemented its presence as a technology-agnostic leader in the plastic recycling arena. The company endeavors to transform plastic waste into circular products, contributing meaningful solutions throughout the international plastics value chain. With partnerships across both mechanical and chemical recycling sectors, Agilyx focuses on sustainable growth and long-term value creation.

The strategic alliance with GreenDot allows Agilyx to tap into a robust European network known for its commitment to recycling and sustainability. Through GreenDot, Agilyx is enhancing its capabilities in sourcing recycled plastic feedstock, which is crucial for creating high-quality products—an essential part of a thriving circular economy.

About GreenDot

GreenDot has a longstanding commitment to combating the plastic waste crisis. This enterprise specializes in producing high-quality recyclables, particularly from challenging waste streams. Founded in Germany over 35 years ago with the establishment of the first nationwide Extended Producer Responsibility (EPR) program for household packaging, GreenDot has evolved into a comprehensive player in the circular economy space. The company's operations span across multiple nations including Germany, Austria, Italy, and France, addressing the intricate demands of plastic recycling.

Together, Agilyx and GreenDot are positioned at the forefront of the transition towards a more sustainable future, creating an impactful ripple effect across industries reliant on plastic.

For additional details, please visit Agilyx's official website and find more on GreenDot's initiatives at GreenDot's site.