Final approval for advance payment of grant to Pryme in the amount of Euro 2.3 million has been received under the EU Horizon 2021 program for its participation in the research and innovation project ELECTRO.

10 Feb 2023 12:45 CET

Pryme previously announced its application for a grant under the EU Horizon 2021
program established by the European Commission to finance research and
innovation activities. The Company is one of 12 consortium partners in Project
ELECTRO including Ghent University in Belgium as the project coordinator.

The EU granted the consortium an amount of EUR 14.2 million for the project that
spans a EUR 21.4 million research and innovation program until September 2026.
Pryme’s share in the grant, as the largest consortium partner, is EUR 4.8
million, supporting its budgeted EUR 8 million project costs until September
2026 as part of its overall planned R&D research and innovation costs. Project
activities have commenced.

As all approval conditions have been met, Pryme expects to receive EUR 2.3
million within the next 14 days as a project pre-payment from the EU, through
Ghent University, the project coordinator, to fund its research and innovation
activities costs related to Project ELECTRO.

Project ELECTRO targets demonstration of innovative technology concepts that
link the waste and petrochemical industry and provide sustainable, low
greenhouse gas footprint and scalable circular solutions for olefin and
polyolefin production. Both Pryme’s R&D center and Pryme’s first production site
in Rotterdam participate in the execution of the project activities.

More information on project ELECTRO can be found on:
https://cordis.europa.eu/project/id/101058412 - Electrified conversion of
plastic waste into olefins & downstream integration | ELECTRO Project | Fact
Sheet | HORIZON | CORDIS | European Commission (europa.eu)

Pryme views the EU grant for Project ELECTRO and the joint resolve of the
consortium partners in the project as strong support for its mission to
contribute to a circular plastic economy.

Rotterdam, February 10, 2023

For investor inquiries, please email to: ir@pryme-cleantech.com

About Pryme | www.pryme-cleantech.com

Pryme N.V. is an innovative cleantech company focused on converting plastic
waste into valuable products through chemical recycling on an industrial scale.
Its efficient and scalable technology is based on a proven pyrolysis process
that has been further developed and enhanced with proprietary characteristics.

The company is currently building its first plant in the port of Rotterdam, with
an initial annual intake capacity of about 40,000 metric tons, which will start
production in 2023.

Pryme’s ambition is to contribute to a circular plastic economy and to realize
the significant rollout potential of its technology through the development of a
broad portfolio of owned-operated plants with strategic partners.

The company is listed on Euronext Growth Oslo.

Pryme can be followed on LinkedIn.

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