Pyrum Innovations AG and Thermo Lysi SA Sign Engineering Contract Worth Around EUR 2 Million
First engineering contract following the granting of a building permit
Contract for the detailed engineering in the amount of EUR 2.2 million
DILLINGEN, DE / ACCESS Newswire / May 19, 2025 / Pyrum Innovations AG ('Pyrum', the 'company', ISIN: DE000A2G8ZX8) and Thermo Lysi SA have signed an engineering contract in the amount of EUR 2.2 million. The contract marks an important milestone for the company, as it is the first engineering contract to be signed after a plant has been granted a construction permit. Pyrum will now begin the detailed engineering of the planned plant, which is expected to take six months. In parallel, Thermo Lysi SA is currently engaged in financing discussions, including talks about EU funding that could cover part of the total costs. Both companies have decided to initiate detailed engineering even before the final financing decision is finalised in order to prepare the next steps of the project development in a targeted manner.
Pascal Klein, CEO of Pyrum Innovations AG: 'We are delighted that the project in Greece is moving to the next phase. It is a significant step and we are proud that our technology will help to relieve the burden on the Greek waste tyre disposal system.'
At the beginning of January 2025, Thermo Lysi SA received approval to build a Pyrum plant for waste recycling using pyrolysis. Once the detailed planning has been completed, the internationally active Greek construction company Archirodon will adapt the documents to Greek law. The recycling plant will be built on a site around 140 kilometres north of Athens in the Livanates region. Pyrum plans to acquire a 15% stake in the project company's equity. Both companies currently expect project preparations of the first joint plant to begin in 2025.
About Pyrum Innovations AG
Pyrum Innovations AG has revolutionised the recycling market for end-of-life tyres. Since 2008, the company has been developing an innovative thermolysis technology that enables end-of-life tyres and plastics tob e recycled with virtually no emissions. The process can recover high-quality products such as thermolysis oil and rCB (recovered Carbon Black), which are used by renowned partners such as BASF, Continental and Schwalbe to manufacture new products. In this way, the company closes the material cycle and pursues a sustainable business model in line with climate targets. Since 2020, the first plant at the company's headquarters in Dillingen/Saar has been in continuous operation, and two further plants have been added as part of the site expansion in 2024. Thanks to respected certificates such as REACH and ISCC Plus, the products are high-quality, sustainable and renewable. Pyrum has already received multiple awards for its innovative solutions and continues to research potential waste streams.
www.pyrum.net/en/
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Frederic Hilke
Phone: +49 221 9140 970
E-mail: [email protected]
Pyrum Innovations AG
Dieselstrasse 8
66763 Dillingen / Saar
E-Mail: [email protected]
SOURCE: Pyrum Innovations AG
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