BASF supports Pyrum in financing the current rollout plan with an initial EUR 25 million

Dillingen /​Saar, 15 November 2023 – Pyrum Inno­va­tions AG (“Pyrum”, the “Company”, ISIN: DE000A2G8ZX8) and BASF Antwerpen NV have today signed a new coöpe­ra­tion agree­ment. The agree­ment provides for a condi­tional loan of initi­ally EUR 25 million, to be drawn in tran­ches, which will serve as start-up finan­cing for the reali­sa­tion of Pyrum Inno­va­tions AG’s concrete project pipe­line until 2026. In addi­tion, provided that Pyrum will have secured addi­tional finan­cing of EUR 50 million, for example in the form of corpo­rate bonds via the capital market, loans or invest­ments from part­ners of jointly planned plants, BASF will provide a further EUR 25 million as a loan to Pyrum under corre­spon­ding conditions.

The object of the agree­ment is the plan­ning, project deve­lo­p­ment and cons­truc­tion of at least three new plants, each with an annual capa­city of 20,000 tonnes of end-of-life tyres, using the funds provided. Pyrum plans to use the funds in parti­cular for the cons­truc­tion of the announced plant in Saar­land as well as for the equity contri­bu­tion and co-finan­cing of up to five of the projects announced in recent months with finan­ci­ally strong part­ners. The aim of Pyrum and BASF is to signi­fi­cantly expand the Company’s produc­tion capacities.

Pyrum Innovations AG

Contact us

IR.on AG
Frederic Hilke
Tel: +49 221 9140 970
E‑mail: pyrum(at)ir-on.com

Pyrum Inno­va­tions AG
Diesel­strasse 8
66763 Dillingen
E‑mail: presse(at)pyrum.net
https://​www​.pyrum​.net

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About Pyrum Innovations AG

With its patented pyro­lysis tech­no­logy, Pyrum Inno­va­tions AG is active in the attrac­tive recy­cling market for used tyres and various plas­tics. 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 used tyres — espe­ci­ally compared to inci­ne­ra­tion in cement plants — and produces new raw mate­rials such as pyro­lysis oil, gas and recy­cled carbon black (rCB) from the waste used as input mate­rials. In this way, Pyrum closes the mate­rial cycle and pursues a 100% sustainable busi­ness model. As a pioneer, Pyrum Inno­va­tions AG was the first company in the waste tyre recy­cling sector to receive REACH regis­tra­tion from the Euro­pean Chemi­cals Agency (ECHA) for the pyro­lysis oil it produces back in 2018. 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 rCB. Both products are ther­e­fore reco­g­nised as sustainable and rene­wable raw mate­rials. Pyrum has also received ISO 14001 certi­fi­ca­tion for its envi­ron­mental manage­ment system and ISO 9001 certi­fi­ca­tion for its quality manage­ment system. These successes have also been reco­g­nised by inter­na­tional experts in the tyre industry. For example, Pyrum was hono­ured at the first Recircle Awards in the cate­gory Best Tyre Recy­cling Inno­va­tion and has been a fina­list for the German SME award three times in a row.