{"id":3933,"date":"2023-11-15T15:43:47","date_gmt":"2023-11-15T14:43:47","guid":{"rendered":"https:\/\/www.pyrum.net\/?p=3933"},"modified":"2025-09-09T12:16:11","modified_gmt":"2025-09-09T10:16:11","slug":"basf-supports-pyrum-in-the-financing-of-the-current-rollout-plan-with-an-initial-eur-25-million-2","status":"publish","type":"post","link":"https:\/\/www.pyrum.net\/en\/corporate-news\/basf-unterstuetzt-pyrum-in-der-finanzierung-des-aktuellen-rollout-plans-mit-zunaechst-25-mio-eur-2\/","title":{"rendered":"BASF supports Pyrum in financing the current rollout plan with an initial EUR 25 million"},"content":{"rendered":"<ul>\n<li>BASF and Pyrum have signed a&nbsp;new co\u00f6peration agreement<\/li>\n<li>Start-\u200bup financing agreed for the realisation of at least three new plants by&nbsp;2026<\/li>\n<\/ul>\n<p><em>Dillingen \/\u200bSaar, 15 November 2023<\/em> \u2013 Pyrum Innovations AG (\u201cPyrum\u201d, the \u201cCompany\u201d, ISIN: DE000A2G8ZX8) and BASF Antwerpen NV have today signed a&nbsp;new co\u00f6peration agreement. The agreement provides for a&nbsp;conditional loan of initially EUR 25 million, to be drawn in tranches, which will serve as start-\u200bup financing for the realisation of Pyrum Innovations AG\u2019s concrete project pipeline until 2026. 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-\u200bof-\u200blife tyres, using the funds provided. Pyrum plans to use the funds in particular for the construction of the announced plant in Saarland, Germany, as well as for the equity contribution and co-\u200bfinancing of up to five of the projects announced in recent months with financially strong partners.<\/p>\n<p>BASF\u2019s new commitment strengthens the confidence of Pyrum\u2019s customers and other financing partners who also want to invest in Pyrum\u2019s growth. Provided that Pyrum will have secured additional funding 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&nbsp;further EUR 25 million as a&nbsp;loan to Pyrum under corresponding conditions. The aim of Pyrum and BASF is to significantly expand the Company\u2019s production capacities. BASF already acquired a&nbsp;stake in Pyrum Innovations AG in September 2020 as part of its ChemCycling\u00ae<sup>\u00ae<\/sup>project and has been sourcing pyrolysis oil from Pyrum ever since. BASF feeds this oil into its production network and manufactures Ccycled\u00ae products to which the recycled raw material is allocated via the mass balance approach. This saves fossil raw materials and contributes to the circular economy. The volumes of pyrolysis oil are to be significantly increased with the new plants.<\/p>\n<p>Pascal Klein, CEO of Pyrum Innovations AG: \u201cThe phase between proving that a&nbsp;new technology works and achieving stable results, i.e. the industrial rollout, is a&nbsp;very big challenge for companies after the initial start-\u200bup phase in terms of financing. We are therefore very pleased about the valuable co\u00f6peration with BASF and the trust that BASF has once again placed in us with this new agreement. Following the successful project acquisition phase of the last twelve months, nothing stands in the way of the realisation of our concrete rollout plan with the start of construction of up to six plants by the end of 2025. On the project side, we are practically \u201csold out\u201d until the end of 2026 and are now looking forward to realisation. The financing is the most important step towards the commercial rollout of our unique pyrolysis technology and is the basis for meeting the high demand for our products.\u201d<\/p>\n<p>Christoph Gahn, Head of Chemical Recycling at BASF: \u201cThanks to Pyrum\u2019s innovative and stable technology, we were able to feed the pyrolysis oil produced from end-\u200bof-\u200blife tyres into our network as a&nbsp;recycled raw material. With the new agreement, we want to support the scaling of the technology and expand our customer portfolio with mass-\u200bbalanced Ccycled\u00ae products.\u201d<\/p>","protected":false},"excerpt":{"rendered":"<p>BASF supports Pyrum with EUR 25 million for the expansion of the pyrolysis plants. Objective: Increase in production capacities &amp;&nbsp;circular economy.<\/p>","protected":false},"author":1,"featured_media":4702,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[21],"tags":[],"beitragskontakt":[33],"class_list":["post-3933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-news","beitragskontakt-ir-on-ag-frederic-hilke"],"_links":{"self":[{"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/posts\/3933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/comments?post=3933"}],"version-history":[{"count":0,"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/posts\/3933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/media\/4702"}],"wp:attachment":[{"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/media?parent=3933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/categories?post=3933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/tags?post=3933"},{"taxonomy":"beitragskontakt","embeddable":true,"href":"https:\/\/www.pyrum.net\/en\/wp-json\/wp\/v2\/beitragskontakt?post=3933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}