Oslo Børs-listed Pyrum Innovations aims to turn old rubber tires into oil products using pyrolysis. The first oil delivery is now on its way to the industrial giant BASF, the company reports on Wednesday.
– The result speaks for itself. After three weeks of continuous production, we have reached a new milestone with the first delivery of our pyrolysis oil from TAD 2 to BASF, says CEO Pascal Klein.
TAD 2 is a reactor at the company’s factory in Dillingen/Saar in Germany. From there, 24,000 liters of pyrolysis oil have been produced, which will be sent to BASF on Wednesday.
– We are very proud to have achieved this ahead of schedule, which is largely due to the dedication of our team. We are now in a successful phase of our rolling plan and are now preparing for our new milestones – internal power generation from TAD 2 and the first test run of TAD 3, Klein continues.
- Recycling company with headquarters in the German city of Dillingen.
- Was founded in 2007/2008 as a student project.
- Develops, builds and operates recycling facilities for rubber and plastic waste.
- Has a collaboration with the chemical group BASF.
- Has been listed on Euronext Growth since 30 September 2021.
The pyrolysis oil has been carefully tested to ensure that it meets all necessary requirements, writes the German company.
“The sampling of the oil was successful, so the delivery to BASF can continue as planned, and there are no obstacles to future deliveries. Around 60,000 liters of oil have already been produced at the new factory, and further deliveries are expected in the near future,” it says.
Pyrum Innovations has been a relatively anonymous share on the Oslo Stock Exchange since its listing in 2021. Since then, the share has fallen around 17 percent in value.
So far this year, the stock has risen 37 percent. The Pyrum share fell 2 percent in pre-trade on Wednesday.
2024-02-21 07:29:37
#milestone #Pyrum #Innovations #result #speaks
