Pyrolyx to add second US rCB plant

The relocation process is underway as German recovered carbon black (rCB) producer Pyrolyx has begun planning of its second US plant in Indiana, on land adjacent to the first plant currently under construction. Its first US tyre pyrolysis unit has a rated annual capacity of 13,000m-tonnes of rCB. The second plant is expected to be “substantially similar” to the first, according to Pyrolyx – construction is poised to begin in the third quarter of 2019.

Pyrolyx has secured US$2.3 million in funds for the project from sales of its equity capital at US$10.00 per share. The equivalent price is AU$0.95 per CDI on the ASX. Pyrolyx also has a US$4.5 million additional loan facility from Pyrolyx USA Inc., with 10 year warrants for over 50 shares at an exercise price of US$11,010.50 per share.

In its management, Dave Steele has been elected Chairman of Pyrolyx to replace David Groves, who will remain as a member of the Supervisory Board of Pyrolyx and oversee the company’s trading developments.

Pyrolyx is currently under a five-year non-binding agreement to Continental, to supply the tyre maker with up to 15,000 tonnes of rCB a year from Pyrolyx’ German and US plants.