EQS-News

Pyrum Innovations AG and GreenTech Recycling Tires AB plan to build a recycling plant in Sweden

EQS-News: Pyrum Innovations AG / Key word(s): Contract/Agreement Pyrum Innovations AG and GreenTech Recycling Tires AB plan to build a recycling plant in Sweden 08.03.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Pyrum Innovations AG and GreenTech Recycling Tires AB plan to build a recycling plant in Sweden

• Contract signed for the planning of a new plant with a capacity of 20,000 tonnes of end-of-life tires per year
• Foundation laid for market entry in Scandinavia
• Production start of the plant planned for 2027

Dillingen/ Saar, 8 March 2024 - Pyrum Innovations AG ("Pyrum", the "Company", ISIN: DE000A2G8ZX8) has laid the foundation for its market entry in Scandinavia. Last week, a consulting agreement was signed between GreenTech Recycling Tires AB and Pyrum Innovations AG for the construction of a joint pyrolysis plant in Sweden. It is planned that Pyrum will participate in the SPV with up to EUR 3 million, provided that GreenTech's financing has been fully secured. The company is currently conducting talks in this regard. At the same time, GreenTech Recycling Tires AB has already reserved a suitable site in Billingsfors, Sweden, held talks with tire suppliers and, with Pyrum's support, will soon begin compiling the necessary approval documents. The official start of the project in the form of the commencement of work on the basic engineering is scheduled for the beginning of July this year. Both partners are aiming to build a plant with a recycling capacity of 20,000 tonnes of end-of-life tires per year. Production is scheduled to start in 2027.

Pascal Klein, CEO of Pyrum Innovations AG: "We are very pleased about the cooperation with GreenTech as well as the trust placed in our Pyrum technology. With the construction of the joint plant in Sweden, we are taking the first major step towards opening up the Scandinavian market. We are looking forward to the new project with confidence and are now starting the further planning full of vigour."

“For us at GreenTech Recycling Tires AB, the agreement with Pyrum Innovation AG is our stepping stone in recycling end-of-life tires from cars and trucks, fully reusing them to make new tires, plastics and steel products instead of incineration”, says Per-Olov Lindgren Chairman of the Board of GreenTech Recycling Tires AB. “This is the last piece in the value chain for us, since we already today have both the supply of tires and offset of the produced products when our plant is in place”, continues Mr Lindgren.