Pyrum Innovations AG continues international expansion - Construction of fifth Pyrum pyrolysis plant planned in Czech Republic
EQS-News: Pyrum Innovations AG / Key word(s): Contract/Expansion
Pyrum Innovations AG continues international expansion - Construction of fifth Pyrum pyrolysis plant planned in Czech Republic
10.10.2023 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.*Pyrum Innovations AG continues international expansion - Construction of fifth Pyrum pyrolysis plant planned in Czech Republic *
· *Engineering and consulting contract signed with local partner*
· *New plant in the Czech Republic to have a capacity of 20,000 tonnes of end-of-life tyres per year*
· *New Pyrum plant to be integrated into partner's existing plant *
Dillingen / Saar, 10 October 2023 - Pyrum Innovations AG (“Pyrum”, the “Company”, ISIN: DE000A2G8ZX8) plans to build a Pyrum pyrolysis plant in the Czech Republic together with a Czech energy group. A consulting contract has been signed with a subsidiary of the group to prepare the permit for the construction of the tyre recycling plant and to submit the building application. The new plant with a capacity of 20,000 tonnes of end-of-life tyres (ELT) per year is being built in the Czech border region with Germany and is scheduled to start operations in 2025. The Czech partner, which is active in the field of energy and environmental services, already operates a power plant on the site and therefore has a gas turbine that will also generate electricity from the pyrolysis gas in the future. This means that synergies and the existing structures can be benefited from in the planning and implementation of the new plant.
Pascal Klein, CEO of Pyrum Innovations AG: “We are looking forward to this groundbreaking project. Using the existing infrastructure to operate the new tyre recycling plant is an approach that fits perfectly with Pyrum's commitment to sustainability. The plans also underline the ongoing internationalisation of our company. Together with our partner, we will contribute to the circular economy and provide a sustainable solution for ELT recycling in the Czech Republic.”
For the construction and operation of the new plant, a joint venture (special purpose vehicle, SPV) is to be established, in which Pyrum is expected to hold a 30% stake. As part of the consulting contract, Pyrum will carry out the basic engineering and prepare parts of the approval documents for the new plant. The site also offers sufficient space for future capacity expansions. Therefore, the size of the plant is already being designed today to allow for a doubling of recycling capacities in 2027. In addition to Pyrum's main plant in Dillingen/Saar, the joint venture REVALIT GmbH and the already announced plans for the construction of pyrolysis plants together with SUEZ recycling and recovery UK Ltd in Great Britain and Thermo Lysi SA in Greece, the plans in the Czech Republic now represent the fifth concrete project in total for the construction of a pyrolysis plant.
*About Pyrum Innovations AG*
Pyrum Innovations AG is active in the attractive recycling market for end-of-life tyres with its patented pyrolysis technology. Pyrum's pyrolysis process is largely energy self-sufficient and, according to the Fraunhofer Institute, saves significantly more CO[2] emissions than today's standard recycling processes for end-of-life tyres - especially compared to incineration in cement plants - and produces new raw materials such as pyrolysis oil, gas and recovered carbon black from the waste used as input materials. In this way, Pyrum closes the recyclable material loop and pursues a completely sustainable business model. As a pioneer, Pyrum Innovations AG was the first company in the end-of-life tyre recycling sector to receive REACH registration from the European Chemicals Agency (ECHA) for the pyrolysis oil it produces. This means that the oil is recognised as an official raw material that can be used in production processes. In addition, Pyrum has received ISCC PLUS certification for the pyrolysis oil and the recovered carbon black. Both products are thus considered sustainable and renewable raw materials. In addition, Pyrum has received ISO 14001 certification for its environmental management system and ISO 9001 certification for its quality management system. These achievements have also been recognised by international experts in the tyre industry. For example, Pyrum won the Best Tyre Recycling Innovation category at the inaugural Recircle Awards and has been nominated for the “Grand Prix Mittelstand” (“Großer Preis des Mittelstandes”) from the German state of Saarland.
https://www.pyrum.net/
*Contact*
*IR.on AG *
Frederic Hilke
Phone: +49 221 9140 970
Email: pyrum@ir-on.com
*Pyrum Innovations AG*
Dieselstr. 8
66763 Dillingen / Saar
Email: presse@pyrum.net
--------------------
10.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com --------------------
Language: English
Company: Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen/Saar
Germany
Phone: +49 6831 959 480
E-mail: contact@pyrum.net
Internet: www.pyrum.net
ISIN: DE000A2G8ZX8
WKN: A2G8ZX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich
EQS News ID: 1744811
End of News EQS News Service