Pyrum Innovations AG and Thermo Lysi SA are planning to build recycling plant in Greece

•  New plant design contract has been signed

Dillingen / Saar, 14 September 2023 – Pyrum Innovations AG (“Pyrum”, the “company”, ISIN: DE000A2G8ZX8) has already started preliminary discussions with Thermo Lysi SA to develop a new plant for the recycling of end-of-life tyres (ELT) in Greece. Pyrum has agreed to perform all the necessary planning that will be used for building permits, as required by the Greek Law, for the new plant, approximately 140 km north of Athens. The plant will have a capacity of 20,000 tons of ELT per year and will be able to cover almost half of the total quantity of ELT in Greece - the country currently produces about 45,000 tons of ELT per year. The new plant will help to recycle these tyres sustainably and recover valuable resources.

Pascal Klein, CEO of Pyrum Innovations AG: “We are looking forward to realising this groundbreaking project in Greece together with Thermo Lysi SA. The assignment of the design and all the necessary work for the issuance of the building permit underlines the trust and commitment Thermo Lysi SA has shown us. Together we will explore the possibility of building a state-of-the-art recycling plant to address the challenges of end-of-life tyre disposal in Greece and make an important contribution to the circular economy.”

Under the terms of this investigation, Pyrum is willing to carry out the basic engineering and to prepare parts of the documentation required for the permits of the new plant. An existing tyre recycling unit with a shredder is already located at a nearby site of the planned plant. This means that synergies can be used in the design and future implementation of the new plant. The land on which the new plant will be built provides sufficient space for future capacity expansion.

The agreement with Thermo Lysi SA further strengthens the extensive and promising pipeline for the construction of pyrolysis plants based on the Pyrum technology in Europe. The said venture, is the first outside Germany. The company has recently signed several letters of intent with various companies for joint projects. In addition, Pyrum has already started preparing the approval documents for another of its own plants in Homburg, Germany, where construction is scheduled to start at the end of this year. Again, based on ongoing financing discussions, Pyrum expects that full financing will be in place by the time the permit applications are submitted.

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 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 nominated for the “Grand Prix Mittelstand” (“Großer Preis des Mittelstandes”) from the German state of Saarland.

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Frederic Hilke
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Pyrum Innovations AG
Dieselstr. 8
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