We have been very bullish on Pyrum Innovations, the most advanced company involved in chemical recycling of tires. Today Pyrum made two announcements:
|Announcing a recycling cooperation with Schwalbe|
|Pyrum has announced a cooperation with the Ralf Bohle GmbH, who considers itself to be the European market leader for bicycle tires with its iconic brand “Schwalbe”. |
Under this agreement, Schwalbe has established a recycling network for used bicycle tires with all participating Schwalbe dealers. These used bicycle tires will then be delivered and fed into the pyrolysis process at Pyrums plant in Dillingen, we understand.
Pyrum adds Schwalbe as another well-reputed name to an already impressive list of cooperating partners (BASF, Conti, Michelin)
First joint venture established – third plant construction announced
During the IPO, Pyrum indicated it is negotiating several JVs for construction of additional tire recycling plants.
Pyrum has announced to establish the first joint venture to build and operate a pyrolysis plant with a (standard) capacity of 20,000 tons of
The location of the plant, which will be operated under the name “REVALIT GmbH”, will be in Straubing near the Danube in
Bavaria. Besides Pyrum, the shareholders of REVALIT GmbH will be the Munich-based companies MCapital GmbH, TEXTOR GmbH and
Auer Holding GmbH, each with 25%
Pyrum is our top position, together with Quantafuel in the chemical recycling space. There is a lot going on for both companies. Pyrum should have a lot of newsflow in H2 in connection with commissioning of their second plant in Dillingen.
Detailed Pyrum investment case summary :
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