Pyrum Innovations AG / DE000A2G8ZX8
13.11.2023 - 08:00:27REMONDIS and Pyrum Innovations AG sign letter of intent and start planning a joint recycling plant in Bremen
| Pyrum Innovations AG / Key word(s): Letter of Intent/Alliance 13.11.2023 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. New plant with a capacity of 20,000 tonnes of end-of-life tyres per year, based on Pyrum recycling technology, planned in the port of Bremen Remondis and Pyrum have already started with first plant layouts Approval process to start in the coming weeks Dillingen / Saar / Lünen, 13 November 2023 – Pyrum Innovations AG (“Pyrum”, the “Company”, ISIN: DE000A2G8ZX8), together with the recycling company REMONDIS, announced the launch for the planning of a Pyrum plant to recycle end-of-life tyres (ELT). For this purpose, a letter of intent was recently signed. The plant is to be located on a Weserport site in Bremen, a subsidiary of REMONDIS' sister company RHENUS. It will have a recycling capacity of 20,000 tonnes of ELT per year from which the raw material, carbon black, will be recovered. Pascal Klein, CEO of Pyrum: “We are incredibly proud that REMONDIS has chosen our technology and is now taking the step together with us to build a plant based on Pyrum technology. This is another important milestone to increase our recycling capacities in order to be able to meet the high demand for our end products. In addition, the new plant will help to sustainably transform the ELT market and take a further step towards the circular economy. With REMONDIS, the leading German recycling company has opted for our technology. The customer for the pyrolysis oil produced at the new plant in Bremen will be the chemical group BASF SE, which will use the oil in its production network to manufacture mass-balanced products. Through this project, we are further expanding our existing trusting cooperation.” Jürgen F. Ephan, managing director of REMONDIS Recycling GmbH & Co KG: “It is in our company's DNA to want to create and develop material cycles. For this reason, we are very pleased to have entered into a partnership with Pyrum in which we are taking on a very challenging material flow which, until now, could only be recycled thermally. Together, we are actively contributing to making our society and economy a little more circular instead of linear. The recovered raw material carbon black can be completely reused in the production of new tyres. This is the ideal case of the circular economy.” It is planned that Pyrum will start preparing the approval documents required for construction in the next few weeks, which should be submitted in the first half of 2024. The investment volume for the new plant amounts to approximately EUR 40 million. Pyrum can thus further expand the pipeline for the construction of pyrolysis plants. In addition to the projected own plant in Saarland, there are currently five plants in the concrete planning and approval phase in cooperation with various partners. About Pyrum Innovations AG Pyrum Innovations AG is active in the attractive recycling market for end-of-life tyres with its patented pyrolysis technology. 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 end-of-life tyres - especially compared to incineration in cement plants - and produces new raw materials such as pyrolysis oil, gas and recovered carbon black from the waste used as input materials. In this way, Pyrum closes the recyclable material loop and pursues a completely sustainable business model. As a pioneer, Pyrum Innovations AG was the first company in the end-of-life tyre recycling sector to receive REACH registration from the European Chemicals Agency (ECHA) for the pyrolysis oil it produces. 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 recovered carbon black. Both products are thus considered sustainable and renewable raw materials. In addition, Pyrum has received ISO 14001 certification for its environmental management system and ISO 9001 certification for its quality management system. These achievements have also been recognised by international experts in the tyre industry. For example, Pyrum won the Best Tyre Recycling Innovation category at the inaugural Recircle Awards and has been nominated for the “Grand Prix Mittelstand” (“Großer Preis des Mittelstandes”) from the German state of Saarland. https://www.pyrum.net/ About REMONDIS SE REMONDIS is one of the world's leading private recycling, service and water companies and provides services for around 30 million people. REMONDIS is present in over 30 countries on three continents through its branches and shares in companies. Founded in 1934, this family-run business employs more than 40,000 people and generates annual sales of EUR 12.6 billion (2022). REMONDIS makes a significant contribution to protecting the environment and conserving resources across its many business divisions. From recovering valuable raw materials from industrial and household waste to producing high quality recycled raw materials and converting non-recyclable residual materials into fuels. Last but not least, the company is also making an increasing contribution to the energy transition by using biomass as an energy source. REMONDIS sees itself as a global partner and consultant for industrial, retail and local authorities to find regional and individual solutions. https://www.remondis.de/en/home/ Contact IR.on AG Frederic Hilke Phone: +49 221 9140 970 Email: pyrum@ir-on.com Pyrum Innovations AG Dieselstr. 8 66763 Dillingen / Saar Email: presse@pyrum.net 13.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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: | +49 6831 959 480 |
| E-mail: | contact@pyrum.net |
| Internet: | www.pyrum.net |
| ISIN: | DE000A2G8ZX8 |
| WKN: | A2G8ZX |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich |
| EQS News ID: | 1770045 |
| End of News | EQS News Service |
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