Agilyx have followed up on the MoU announced with GreenDot in June with an equity investment, taking their ownership in the company to 44%. Agilyx is acquiring the stake for total consideration of €52m, comprised of €32m in newly issued shares and €20m through a loan facility. GreenDot currently processes over 1 million tonnes of packaging annually, including 400,000 tonnes of plastic, and is expanding its sorting operations in Germany, Austria and Italy. From a strategic standpoint, this investment bolsters Agilyx’s feedstock acquisition strategy and enlarges its footprint in Europe’s advanced recycling sector. In our view this is a sensible, well aligned transaction that supports Agilyx in building a global feedstock platform.