20.06.2023 Pyrum Innovations AG  DE000A2G8ZX8

EQS-News: ​​​​​​Pyrum and SUEZ enter into exclusivity agreement to build Pyrum's first pyrolysis plant in the UK


 

EQS-News: Pyrum Innovations AG / Key word(s): Expansion/Agreement
​​​​​​Pyrum and SUEZ enter into exclusivity agreement to build Pyrum's first pyrolysis plant in the UK

20.06.2023 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Pyrum and SUEZ enter into exclusivity agreement to build Pyrum's first pyrolysis plant in the UK

  • During the one-year exclusivity period, the first site is to be identified and the approval process is to begin
  • The plant will consist of three pyrolysis reactors with a capacity of about 20,000 tonnes of end-of-life tyres per year

Dillingen / Saar, 20 June 2023 - Pyrum Innovations AG ("Pyrum"), a pioneer in the sustainable recycling of end-of-life tyres (ELT) based on its globally patented, unique pyrolysis technology, and SUEZ recycling and recovery UK Ltd ("SUEZ") have entered into a one-year exclusivity agreement to build Pyrum's first pyrolysis plant in the UK.

In this first year of the arrangement, the utility company, which is part of the SUEZ Group and is active in water and waste management, will identify the location for the first plant and initiate the approval process, in which Pyrum will assist. SUEZ will bear the costs of the approval process. The planned plant will comprise three pyrolysis reactors with a recycling capacity of around 20,000 tonnes of end-of-life tyres per year. Following successful approval, the first plant is to be built in England.

Pascal Klein, CEO of Pyrum Innovations AG: “The European rollout of our unique technology continues to progress. In SUEZ, we were able to partner with one of the leading companies in the field of sustainable solutions and innovative technologies for the British circular economy. Working together, Pyrum and SUEZ will benefit from each other's expertise. The first site will now be identified as soon as possible. We will then work together to complete the approval process with the local authorities.”

John Scanlon, CEO of SUEZ recycling and recovery UK: “This agreement marks an exciting milestone for SUEZ as leaders in the development of a more circular, resource efficient UK economy, we’re excited to partner with Pyrum, who are also leaders in their field. With our expertise in delivering new infrastructure, SUEZ are the natural choice to pioneer this innovative technology in the UK, which will see a vast improvement in the recycling of end-of-life tyres, and a significant reduction in CO2 emissions compared with current tyre recycling technologies. We look forward to working together over the coming year to develop plans for the first UK plant.”

Pyrum Innovations AG is expanding its extensive and promising pipeline for the construction of pyrolysis plants in Europe through its partnership with SUEZ. Most recently, the company had signed letters of intent with several companies for joint projects. In addition, Pyrum is currently in the final phase of expanding its main plant in Dillingen / Saar and is planning another plant of its own in Homburg, for which a suitable plot of land has recently been secured. With the step into Great Britain, Pyrum and SUEZ are tapping into the promising British recycling market for end-of-life tyres. Around 50 million tyres (480kt) are disposed of in the UK, currently 13.4 million of these are used as alternative fuel, with the remaining tyres shredded and ground into a new material called crumb which is used on sports pitches or playgrounds - the rest are sent for energy recovery or to landfill.

 

About Pyrum Innovations AG

Pyrum Innovations AG is active in the attractive recycling market for used tyres with its patented pyrolysis technology. Pyrum's pyrolysis process is energy self-sufficient and, according to the Fraunhofer Institute, saves significantly more CO2 emissions than today's standard recycling processes for used tyres - especially compared to incineration in cement plants - and produces new raw materials such as pyrolysis oil, gas and recycled industrial carbon black (rCB) from the waste used as input materials. In this way, Pyrum closes the cycle of recyclable materials and pursues a sustainable business model. As a pioneer, Pyrum Innovations AG was the first company in the waste 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 rCB. 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 was awarded in the category Best Tyre Recycling Innovation at the Recircle Awards, which were presented for the first time, and was nominated for the Grand Prize of Medium-Sized Businesses by the Federal State of Saarland.

www.pyrum.net

 

About SUEZ

SUEZ recycling and recovery UK employs over 5,600 people, operating across hundreds of sites, and handles in excess of 10 million tonnes of waste materials every year – a significant proportion of the UK’s total waste. Through collection, treatment, recycling and logistics operations, it serves more than 30,000 business customers and millions of households throughout the country.

https://www.suez.co.uk

 

Contact

IR.on AG       
Frederic Hilke        
Tel: +49 221 9140 970      
Email: [email protected]       

Pyrum Innovations AG     
Diesel Road 8       
66763 Dillingen / Saar      
Email: [email protected]     

SUEZ
Nina Platt
Tel: 07977 839570
Email: [email protected]

 



20.06.2023 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.

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Language: English
Company: Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen/Saar
Germany
Phone: +49 6831 959 480
E-mail: [email protected]
Internet: www.pyrum.net
ISIN: DE000A2G8ZX8
WKN: A2G8ZX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich
EQS News ID: 1660697

 
End of News EQS News Service

1660697  20.06.2023 CET/CEST

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EBITDA-Marge3 0,00 -4.166,67 -441,18 -336,36 -707,61 -516,33
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Wirtschaftsprüfer: Christian Hecht

INVESTOR-INFORMATIONEN
©boersengefluester.de
Pyrum Innovations
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2G8ZX 33,300 108,35
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 0,00 0,00 -13,33
KBV KCV KUV EV/EBITDA
4,84 - 94,46 -15,16
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 18.07.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
28.06.2024 27.09.2024 22.11.2024 16.05.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-5,81% -10,58% 5,38% -12,37%
    
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