Agilyx has completed its exit from the Cyclyx joint venture by entering into an agreement to terminate the long-term lease on the second Cyclyx Circularity Centre (CCC2) in Dallas-Fort Worth. The termination agreement fully resolves any remaining obligations under the lease and eliminates the previously announced lease liability of c.US$32.7m. The move is another step in the transformation of Agilyx from a capital-intensive project developer to a scaled, cash-generative European circular plastics leader. We see it as useful tidying up of the inherited position.