Pyrum Innovations publishes results for the first nine months of 2022

30 Nov 2022 07:30 CET

Press release
of Pyrum Innovations AG

Pyrum Innovations publishes results for the first nine months of 2022

• Total output increased strongly by more than 600% to EUR 14,156 thousand (9M
2021: EUR 2,007 thousand)
• Revenue from the operation of the plants also increased by 5.3% to EUR 714
thousand (9M 2021: EUR 678 thousand)
• Consolidated net result for the period of EUR -5,675 thousand (9M 2021: EUR
-6,829 thousand)

Dillingen / Saar, 30 November 2022 - Pyrum Innovations AG ("Pyrum"), a pioneer
in the sustainable recycling of end-of-life tyres (ELT) based on its patented
pyrolysis technology, today published its consolidated interim report for the
period from 1 January to 30 September 2022. Total output increased sharply
year-on-year in the first nine months of 2022 – by over 600% to EUR 14,156
thousand (9M 2021: EUR 2,007 thousand). This development resulted primarily from
the increase in own work capitalised in the amount of EUR 13,171 thousand (9M
2021: EUR 1,319 thousand) as part of the ongoing plant expansion in Dillingen.

Compared to the first three quarters of the previous year, revenue increased by
5.3% to EUR 714 thousand (9M 2021: EUR 678 thousand). Pyrum deliberately
included a large part of the coke produced in the inventory in anticipation of
significantly higher sales prices after the commissioning of the new pelletising
plant. The pelletising plant is part of the construction of two new production
lines at the main plant in Dillingen, for whose future operation Pyrum has
already received the official approval.

Other operating income also increased in the reporting period by 25.6% to EUR
1,074 thousand (9M 2021: EUR 855 thousand). The reason for the increase was
primarily income from the area of research and development. Here, research
grants of EUR 930 thousand (9M 2021: EUR 510 thousand) were realised, especially
for the European project "BlackCycle" for the efficient recycling of used tyres.
The consolidated result in the first nine months of 2022 was EUR -5,675 thousand
(9M 2021: EUR -6,829 thousand).

Pascal Klein, CEO of Pyrum Innovations AG: "We were able to take further
important steps as part of our ambitious rollout plans and we are working with
our partners to establish a sustainable circular economy for end-of-life tyres.
Regarding the expansion of our main plant in Dillingen, we received the official
operating permit at an early stage and will thus be able to serve the already
high demand for our products even better in the future."




Pyrum Innovations AG's Consolidated Interim Report for the first nine months of
2022 is available on the company's website at
https://www.pyrum.net/en/investors/financial-publications/.


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 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. 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/en


Contact
IR.on AG
Frederic Hilke
Tel: +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/en/

More information:
Access the news on Oslo Bors NewsWeb site

576989_2022 11 30 Pyrum CN 9M_EN_final.pdf
576989_2022 Q3 Consolidated Interim Report_final_sec.pdf