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An announcement from Pyrum Innovations AG ( (DE:PYR) ) is now available.
Pyrum Innovations AG, in collaboration with Thermo Lysi SA, has secured EUR 29.4 million in funding from the European Innovation Fund for a major recycling project in Greece. This funding ensures the construction of one of Europe’s largest and most modern pyrolysis plants, doubling the planned recycling capacity to 45,000 tonnes of end-of-life tyres per year. The project, valued at around EUR 100 million, highlights Pyrum’s commitment to innovation and sustainability in the circular economy. With all necessary permits obtained, the plant is ready for construction, further solidifying Pyrum’s position as a leader in sustainable recycling technology.
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, focusing on end-of-life tyres and plastics. Since 2008, the company has developed an innovative thermolysis technology that allows for the recycling of these materials with minimal emissions. Their process yields high-quality products like thermolysis oil and recovered Carbon Black, utilized by major companies such as BASF and Continental. Pyrum’s sustainable business model aligns with climate goals, and their operations have expanded since 2020 with multiple plants in operation, backed by certifications like REACH and ISCC Plus.
YTD Price Performance: -1.24%
Average Trading Volume: 540
Current Market Cap: NOK1.22B
For a thorough assessment of PYR stock, go to TipRanks’ Stock Analysis page.