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EQS-News: Pyrum Innovations AG
/ Key word(s): Contract/Agreement
Pyrum Innovations AG and GreenTech Recycling Tires AB plan to build a recycling plant in Sweden
Dillingen/ Saar, 8 March 2024 - Pyrum Innovations AG ("Pyrum", the "Company", ISIN: DE000A2G8ZX8) has laid the foundation for its market entry in Scandinavia. Last week, a consulting agreement was signed between GreenTech Recycling Tires AB and Pyrum Innovations AG for the construction of a joint pyrolysis plant in Sweden. It is planned that Pyrum will participate in the SPV with up to EUR 3 million, provided that GreenTech's financing has been fully secured. The company is currently conducting talks in this regard. At the same time, GreenTech Recycling Tires AB has already reserved a suitable site in Billingsfors, Sweden, held talks with tire suppliers and, with Pyrum's support, will soon begin compiling the necessary approval documents. The official start of the project in the form of the commencement of work on the basic engineering is scheduled for the beginning of July this year. Both partners are aiming to build a plant with a recycling capacity of 20,000 tonnes of end-of-life tires per year. Production is scheduled to start in 2027. Pascal Klein, CEO of Pyrum Innovations AG: "We are very pleased about the cooperation with GreenTech as well as the trust placed in our Pyrum technology. With the construction of the joint plant in Sweden, we are taking the first major step towards opening up the Scandinavian market. We are looking forward to the new project with confidence and are now starting the further planning full of vigour." “For us at GreenTech Recycling Tires AB, the agreement with Pyrum Innovation AG is our stepping stone in recycling end-of-life tires from cars and trucks, fully reusing them to make new tires, plastics and steel products instead of incineration”, says Per-Olov Lindgren Chairman of the Board of GreenTech Recycling Tires AB. “This is the last piece in the value chain for us, since we already today have both the supply of tires and offset of the produced products when our plant is in place”, continues Mr Lindgren. GreenTech Recycling Tires AB’s business model is to obtain valuable products through the recycling of end-of-life tires. The consulting agreement that has now been concluded is Pyrum’s third concrete contractual agreement for the construction of a recycling plant in addition to the project with Thermo Lysi SA in Greece and the planned plant in the Czech Republic.
About Pyrum Innovations AG Pyrum Innovations AG is active in the attractive recycling market for end-of-life tyres and various plastics with its patented pyrolysis technology. Pyrum's pyrolysis process is largely energy self-sufficient and, according to the Fraunhofer Institute, saves significantly more CO2 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 a finalist in the Grand Prix of German SMEs (Großer Preis des Mittelstandes) three times in a row.
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Pyrum Innovations AG
08.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| 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: | 1854039 |
| End of News | EQS News Service |
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1854039 08.03.2024 CET/CEST
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