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DGAP-News: Pyrum Innovations AG / Key word(s): Alliance 07.02.2022 / 08:30 The issuer is solely responsible for the content of this announcement.
Pyrum Innovations AG deepens collaboration with ELDAN Recycling A/S
Sales cooperation agreed with ELDAN Recycling
New ELDAN shredder triples processing capacity at Dillingen/Saar site
Construction of the two new pyrolysis reactors on schedule
Dillingen / Saar, 7 February 2022 - Pyrum Innovations AG ("Pyrum", the "Company"), a pioneer in the sustainable recycling of end-of-life tyres (ELT) based on its patented pyrolysis technology, is deepening its collaboration with ELDAN Recycling A/S, one of the world's leading manufacturers of recycling machines, including shredders for ELT. For this purpose, Pyrum has entered into a sales cooperation with the Danish manufacturer. Under the agreement, both companies will include each other's systems in their sales processes and actively distribute them.
In addition, Pyrum has ordered a new, more powerful shredder from ELDAN Recycling, which is expected to be delivered to the plant site in Dillingen by the end of 2022. Before Pyrum recycles the ELT using its patented pyrolysis technology, the ELT must be shredded. During the shredding process, the rubber components of the tyres are crushed, and steel wire and textile fibres are separated. With the help of the new ELDAN shredder, Pyrum can triple the capacity of the ELT to be processed to up to 7,000 pieces per day. At the same time, the machine enables a significantly better quality and thus higher sales prices of the separated steel.
Pascal Klein, CEO of Pyrum Innovations AG: "We are very pleased about the agreement with ELDAN. In addition to the significant increase in our shredding capacities, which is also a prerequisite for the commissioning of our two new pyrolysis reactors, we will be able to supply a significantly better steel quality with a much higher purity in the future. This means that our steel wire will also count as raw material in the future and can thus be directly processed into new steel. Furthermore, the sales cooperation shows that ELDAN is convinced of our pyrolysis technology and values it as a sales advantage - a further confirmation of our process."
The expansion of the production capacities of the pyrolysis plant at the Company's headquarters in Dillingen/Saar is currently on schedule. The earthworks have been completed as planned and the steel construction work has already begun.
Pascal Klein: "Every day when I come to our plant site, I am delighted to see the two new production lines growing. By expanding and tripling our processing capacity to around 20,000 tonnes of ELT per year, we are taking a big step towards meeting the high demand for our products. We currently expect commissioning by the end of this year."
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 completely energy self-sufficient, saves up to 98% of the CO2 emissions normally generated during the disposal of end-of-life-tyres in a cement plant 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 and can be used as a raw material in production processes. In addition, Pyrum is continuously researching both new input materials as well as new raw materials to be produced, for example with the ongoing tests for the extraction of hydrogen from the gas obtained by means of the patented technology. 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.
IR.on AG Frederic Hilke Phone: +49 221 9140 970 Email: pyrum@ir-on.com
Pyrum Innovations AG Dieselstrasse 8 66763 Dillingen / Saar Email: presse@pyrum.net https://www.pyrum.net
07.02.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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