Agilyx Raises $22 Million To Turn Plastics (Back) Into Oil

A Portland area startup selling patented systems that turn plastic trash into synthetic crude oil, Agilyx , closed a $22 million series B round, the company revealed on Thursday. The systems (image below) look like the kind of equipment you'd see in a brewery. Here's how they work, according to the company website: Plastic feedstock, a mix of everything from grocery bags to vehicle dashboards and computer monitor cases, are dropped by a crane into a sizable vessel, where they are indirectly heated until they turn into a liquid, and then a gas...