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Pyrum Innovations AG ( (DE:PYR) ) just unveiled an announcement.
Pyrum Innovations AG has entered into a shareholder agreement with SUAS Ecology s.r.o. to establish a joint venture, SUAS reTIRE s.r.o., for a new recycling plant in Czechia. Pyrum secured a 49% equity stake and a ten-year oil offtake agreement, marking significant milestones towards project financing and demonstrating confidence in their technology. The plant, expected to start in 2027, will recycle over 22,000 tonnes of tyres annually, contributing to the circular economy and energy efficiency in Europe.
The most recent analyst rating on (DE:PYR) stock is a Buy with a NOK58.00 price target. To see the full list of analyst forecasts on Pyrum Innovations AG stock, see the DE:PYR Stock Forecast page.
More about Pyrum Innovations AG
Pyrum Innovations AG is a pioneer in the recycling industry, specializing in the innovative thermolysis technology for recycling end-of-life tyres and plastics with minimal emissions. The company produces high-quality thermolysis oil and recovered Carbon Black, used by major partners like BASF and Continental. Pyrum operates a sustainable business model aligned with climate goals, with continuous operations since 2020 and expansion in 2024.
Average Trading Volume: 495
Current Market Cap: NOK1.27B
For an in-depth examination of PYR stock, go to TipRanks’ Overview page.