German tyre recycler Pyrum Innovations and Thermo Lysi SA have signed an engineering contract for the amount of EUR2.2 million. The contract marks an important milestone for the company, as it is the first engineering contract to be signed after the plant to be set up in Greece has been granted a construction permit, it adds.
The recycling plant will be built on a site around 140 km north of Athens in the Livanates region. Pyrum plans to acquire a 15% stake in the project company‘s equity. Both companies currently expect project preparations of the first joint plant to begin in 2025.
Pyrum will now begin the detailed engineering of the planned plant, which is expected to take six months. In parallel, Thermo Lysi is currently engaged in financing discussions, including talks about EU funding that could cover part of the total costs. Both companies have decided to initiate detailed engineering even before the final financing decision is finalised in order to prepare the next steps of the project development in a targeted manner.
Pascal Klein, CEO of Pyrum Innovations AG: “We are delighted that the project in Greece is moving to the next phase. It is a significant step and we are proud that our technology will help to relieve the burden on the Greek waste tyre disposal system.“
At the beginning of January 2025, Thermo Lysi SA received approval to build a Pyrum plant for waste recycling using pyrolysis.
Once the detailed planning has been completed, Greek construction company Archirodon will adapt the documents to Greek law.