Taranis invests in Chemical Plastics Recycling Company, Pryme N.V.

15 Apr 2024 07:30 CEST

April 15th, 2024

Taranis invests in Chemical Plastics Recycling Company, Pryme N.V.

Taranis Investment Limited, through its Taranis Carbon Ventures fund, is pleased
to announce an investment of EUR 10 million into Pryme, an innovative cleantech
company focused on converting plastic waste into valuable products through a
fully electrical pyrolysis technology on an industrial scale.

Pryme has developed a new cost-effective approach to pyrolysis that allows used
plastic to be recycled with a high conversion rate on an industrial scale and
with a lower carbon footprint. The company is currently in the early production
phase of its first industrial-scale unit, Pryme One, located in Rotterdam,
positioning Pryme as a front-runner in the EU in the chemical polyolefins
recycling landscape.

Taranis’ investment will enable Pryme to accelerate the roll-out of its
technology to help reduce the amount of hard to recycle plastic being
incinerated or ending up in the environment. It aligns with the Taranis Carbon
Ventures fund's thesis of supporting the development of innovative technologies
enabling carbon circularity.

Commenting on the investment, Emmanuel COLOMBEL, CEO of Taranis Investment,
said:
“Supporting growth companies in the field of plastics recycling is an important
strand to Taranis Carbon Ventures’ investment strategy. As such, we are pleased
to be making an investment in Pryme and supporting the roll-out of its
innovative and low carbon technology. The team at Pryme are successfully
optimizing the pyrolysis process and have the potential to make a significant
impact in addressing the hard to recycle plastic waste streams. We look forward
to following up on our financial support by bringing our technical and
commercial experience as a new shareholder in Pryme.”

Christopher Hervé, CEO of Pryme N.V., said:
“We are excited to welcome Taranis Investment Limited as a new shareholder in
Pryme. Taranis and its parent company, the Perenco Group, are ideal partners for
Pryme with their significant experience in conducting large-scale industrial
projects, technical expertise and focus on and dedication to technology driven
carbon footprint reduction and circularity. We look forward to Taranis bringing
valuable experience and perspective to further develop Pryme into a significant
advanced recycling player.”

About Taranis Investment
Taranis is an investment and asset management company owned by the Perenco
Group. With sustainable development at its core, Taranis currently operates four
distinct funds. These include Taranis Carbon Ventures, a VC fund investing in
technologies to accelerate carbon circularity from carbon capture and
utilization to plastics recycling; Taranis Energy for Africa, focused on power
and renewable projects to improve access to energy; Taranis Decommissioning
Fund, entailing ESG compliant investments to pre-finance the decommissioning of
Perenco’s oil & gas facilities; and Taranis Nature Based Solutions, for
preserving or improving the carbon absorption of different ecosystems.

For more information, or to contact Taranis, please visit www.taranis.eu

About Pryme
Pryme N.V. is an innovative cleantech company focused on converting plastic
waste into pyrolysis oil through chemical recycling on an industrial scale. Its
efficient and scalable technology is based on a proven process that has been
further developed and enhanced with proprietary characteristics.
The company has initialized production at its first plant in the port of
Rotterdam, with an expected nameplate intake capacity of about 40,000 tons of
plastic waste annually.
Pryme’s ambition is to contribute to a low-carbon circular plastic economy and
to realize the large 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.

www.pryme-cleantech.com

More information:
Access the news on Oslo Bors NewsWeb site

615756_Taranis - Pryme Press Release 15 April 2024.pdf