- Total revenue rose sharply by more than 600% to 14,156 TEUR (9M 2021: 2,007 TEUR)
- Revenue from plant operations also increased by 5.3% to 714 TEUR (9M 2021: 678 TEUR)
- Consolidated net income for the period of -5,675 TEUR (9M 2021: -6,829 TEUR)
Dillingen / Saar, November 30, 2022 – Pyrum Innovations AG (“Pyrum”), a pioneering company that sustainably recycles scrap tires using its globally patented, unique pyrolysis technology, today published its interim consolidated report for the period from January 1 to September 30, 2022. Total revenue rose sharply in the first nine months of 2022 compared to the same period last year—by over 600% to TEUR 14,156 (9M 2021: TEUR 2,007). This development resulted primarily from the increase in capitalized in-house work amounting to TEUR 13,171 (9M 2021: TEUR 1,319) in connection with the ongoing plant expansion in Dillingen.
Revenue increased by 5.3% compared with the first three quarters of the prior year, to TEUR 714 (9M 2021: TEUR 678). In anticipation of significantly higher selling prices following the commissioning of the new pelletizing plant, Pyrum deliberately added a large portion of the coke it produced to inventory. The pelletizing plant is part of the construction of two new production lines at the main plant in Dillingen, for which Pyrum has already received regulatory approval for future operation.
Other operating income also rose by 25.6% during the reporting period to TEUR 1,074 (9M 2021: TEUR 855). The increase was primarily driven by revenue from research and development. In this area, the company received research grants totaling TEUR 930 (9M 2021: TEUR 510), particularly for the European “BlackCycle” project aimed at the efficient recycling of used tires. Consolidated net income for the first nine months of 2022 was -5,675 TEUR (9M 2021: -6,829 TEUR).
Pascal Klein, CEO of Pyrum Innovations AG: “We’ve been able to take further important steps as part of our ambitious rollout plans and are working with our partners to establish a sustainable circular economy for used tires. We received regulatory approval for the expansion of our main plant in Dillingen at an early stage, which will allow us to better meet the already high demand for our products in the future.”
Pyrum Innovations AG’s financial report for the first nine months of 2022 is available on the company’s website at www.pyrum.net/investoren/finanzpublikationen/.
About Pyrum Innovations AG
Pyrum Innovations AG operates in the attractive market for recycling used tires with its patented pyrolysis technology. Pyrum’s pyrolysis process is energy-self-sufficient and, according to the Fraunhofer Institute, significantly reducesCO2 emissions compared to current standard methods of recycling scrap tires—particularly compared to incineration in cement plants —and produces new raw materials such as pyrolysis oil, gas, and recycled industrial carbon black (recovered carbon black—rCB) from the waste used as feedstock. In this way, Pyrum closes the material cycle and pursues a fully sustainable business model. As a pioneer, Pyrum Innovations AG was the first company in the scrap tire recycling sector to receive REACH registration from the European Chemicals Agency (ECHA) for its pyrolysis oil as early as 2018. This means the oil is officially recognized as a raw material that can be used in production processes. In addition, Pyrum has received ISCC PLUS certification for its pyrolysis oil and rCB. Both products are thus considered sustainable and renewable raw materials. These achievements have also been recognized by international experts in the tire industry. For example, Pyrum was honored in the “Best Tire Recycling Innovation” category at the inaugural Recircle Awards and was nominated for the Saarland State Grand Prize for Small and Medium-Sized Enterprises.
Contact
IR.on AG
Frederic Hilke
Tel: +49 221 9140 970
Email: pyrum@ir-on.com
Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen / Saar
Email: presse@pyrum.net
https://www.pyrum.net