Pyrum and SUAS establish joint venture to build tire pyrolysis plant in Czech Republic
Pyrum Innovations AG and SUAS Ecology s.r.o. have a Shareholder agreement for the joint venture „SUAS reTIRE s.r.o.“ in the Czech Republic. Under the terms of the agreement, Pyrum is taking a 49 % stake in the equity of the new joint venture, which will develop, build and operate a state-of-the-art recycling plant in the Czech Republic provides. By successfully securing its equity share of around € 8.6 million, Pyrum has taken an important step towards full project financing. Another major milestone is the Conclusion of a long-term oil purchase agreement over ten years for the pyrolysis oil produced at the future plant – a strong signal of confidence in Pyrum’s technology and the future viability of the project.