- Total revenue rose sharply by more than 400% to 18,997 TEUR (2021: 3,701 TEUR)
- Revenue from plant operations increased by 6.5% to 982 TEUR (2021: 922 TEUR)
- Preliminary consolidated net income of -7,987 TEUR (2021: -8,351 TEUR)
Dillingen / Saar, March 31, 2023 – Pyrum Innovations AG (“Pyrum”), a pioneering company that sustainably recycles scrap tires using its globally patented, unique pyrolysis technology, today published its preliminary figures for the period from January 1 to December 31, 2022. Total revenue increased by 413% compared to the same period in 2021, reaching TEUR 18,997 (2021: TEUR 3,701). This development was primarily due to the increase in capitalized in-house work totaling TEUR 17,717 (2021: TEUR 2,807) as part of the ongoing plant expansion in Dillingen.
Revenue increased by 6.5% compared to the previous year to 982 TEUR (2021: 922 TEUR). In anticipation of significantly higher sales prices following the commissioning of the new pelletizing plant, Pyrum deliberately chose not to sell the coke it produced, but instead added a large portion of it to its inventory. Since the first quarter of 2023, Pyrum has met the fundamental standards required to supply the automotive industry. This means that regular deliveries of high-quality recovered carbon black (rCB) can now begin. To this end, a long-term, ongoing supply agreement was signed with premium tire manufacturer Continental at the end of March.
Other operating income rose by 7.1% to TEUR 1,185 during the reporting period (2021: TEUR 1,106). The increase was primarily due to revenue from research and development. In this area, the company received research grants totaling TEUR 993 (2021: TEUR 510), particularly for the European “BlackCycle” project aimed at the efficient recycling of used tires. The preliminary consolidated net income for 2022 was -7,987 TEUR (2021: -8,351 TEUR).
Pascal Klein, CEO of Pyrum Innovations AG: “We have taken a major step closer to our goal of establishing a sustainable circular economy for used tires. With the commissioning of the two new production lines at our facility in Dillingen, we expect to triple our capacity as early as this year. At the same time, we are currently planning several new plant construction projects to drive forward the rollout of our patented technology together with our partners and to create additional recycling capacity at other locations.”
Pyrum Innovations AG’s Q4 2022 trading update is available on the company’s website at www.pyrum.net/investoren/finanzpublikationen/. The final figures and the 2022 annual report are scheduled to be released on May 19, 2023.
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 recycling methods for 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 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. Pyrum has also received ISO 14001 certification for its environmental management system and ISO 9001 certification for its quality management system. 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