Pyrum And UNITANK Establish JV For the Construction and Operation of up to Ten Waste Tire Recycling Plants in Europe

Pyrum Innovations AG (‘Pyrum’, ISIN: DE000A2G8ZX8) from Saarland and Hamburg-​based UNITANK Holding GmbH & Co. KG (‘UNITANK’), a leading operator of independent tank farms, signed a shareholder agreement to establish a joint venture. This partnership will lay the foundation for the construction of five to ten state-​of-​the-​art recycling plants for end-​of-​life tyres in Europe in the coming years. Pyrum holds a 49% stake in the new joint venture, while UNITANK Group holds a 51% stake.

The UniPyrum joint venture will be based in Hamburg and have its own experienced management team to drive forward the rapid and targeted expansion of several production sites in Germany and Europe. Each site will initially consist of at least three state-​of-​the-​art thermolysis reactors, achieving an annual recycling capacity of at least 22,000 tonnes of end-​of-​life tyres. Thanks to the modular design of Pyrum’s technology, capacities can be expanded on a site-​specific basis in line with demand.

Jan Vogel, CEO of UNITANK Group: “We are delighted to take a decisive step forward in our long-​standing and trusting partnership with Pyrum by establishing this joint venture today. In addition to our core business in the tank storage sector, this creates a new business area with strong growth potential that is independent of the energy transition. The combination of Pyrum’s leading technology and our extensive experience in operating critical infrastructure in the energy sector opens up exciting opportunities for the future. The aim is for the new joint venture to rapidly develop and operate a network of used tyre recycling plants in Germany and neighbouring countries.”

Pascal Klein, CEO of Pyrum Innovations AG: “Since our initial memorandum of understanding with UNITANK, we have worked intensively together to further develop our partnership. We are delighted to reach this important milestone today. Following the positive funding approval in Greece and the recently signed shareholder agreement with SUAS, the founding of the joint venture with UNITANK represents the next important step in finally accelerating the construction and operation of new plants. UNITANK’s many years of experience in operating critical infrastructure and its diverse technical and logistical expertise complement our technology perfectly. Together, we are significantly increasing Europe-​wide recycling capacity for end-​of-​life tyres and actively promoting the circular economy.”

As part of the agreement, the target regions for the first three plants were also defined and extensive preparatory work was carried out on pre-​engineering and the creation of a business plan. UNITANK’s site in Emleben, Thuringia, was identified as a possible first location. It was agreed to begin the necessary approval procedures at short notice. At the same time, UNITANK is negotiating with future suppliers for tyre input and with potential buyers for the end products.

Source: Pyrum