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An announcement from Pryme B.V. ( (DE:8XG0) ) is now available.
Pryme has decided to discontinue redevelopment of its troubled Pryme One plant after repeated loss-of-containment incidents revealed fundamental reactor design flaws and the need for an extensive mechanical rebuild that is incompatible with its current liquidity. A broader technical review, persistent reactor vulnerabilities, and weak investor appetite for capital-intensive fixes led the company to conclude that further investment in Pryme One is neither economically prudent nor strategically justified.
The company is refocusing on developing its Amsterdam and prospective Rotterdam sites, pursuing partnerships based on proven technologies, and preparing future funding processes around this pipeline rather than the existing plant. Pryme will keep the Pryme One facility safely shut while preserving it for potential transfer or sale, implement significant cost reductions, retain a core technical team, and continue shareholder and lender discussions, including an upcoming EGM on a possible delisting from Euronext Growth Oslo and the confirmed waiver of a breached lease covenant.
More about Pryme B.V.
Pryme B.V. is an advanced recycling company focused on large-scale plastic waste pyrolysis to produce pyrolysis oil and related products. The firm operates industrial facilities such as its Pryme One plant and is developing new sites in Amsterdam and a prospective Rotterdam location, targeting commercial-scale recycling capacity through technology-led projects and strategic partnerships.
Average Trading Volume: 5,391
Current Market Cap: NOK335.9M
For detailed information about 8XG0 stock, go to TipRanks’ Stock Analysis page.