Pyrum Innovations AG / DE000A2G8ZX8

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

EQS-Ad-hoc: Pyrum Innovations AG / Key word(s): Financing


15-Nov-2023 / 14:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

---

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 cooperation 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.   Contact IR.on AG
Frederic Hilke
Phone: [phone]
Email: [e-mail]  Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen / Saar
Email: [e-mail]
   

End of Inside Information

---

15-Nov-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---

Language:	English
Company:	Pyrum Innovations AG
	Dieselstraße 8
	66763 Dillingen/Saar
	Germany
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.pyrum.net
ISIN:	DE000A2G8ZX8
WKN:	A2G8ZX
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich
EQS News ID:	1774371

End of Announcement	EQS News Service

---

1774371  15-Nov-2023 CET/CEST