Pyrolyx AG signed a Letter of Intent with one of the largest global tyre manufacturers. The LOI details a five-year supply agreement building over two years to 10,000-15,000 tons per annum of recovered Carbon Black. The rCB will be initially supplied both from Pyrolyx's existing plant in Stegelitz Germany and its plant in Terre Haute Indiana, which is due to be operational in June 2019. The minimum five-year supply agreement requires the development of additional Pyrolyx manufacturing capacity in Eastern Europe. Once the Eastern European facility is operational, which is expected in late 2021, Pyrolyx will satisfy the tyre manufacturer's initial European regional rCB demands from this facility. The expectation of both parties is that the demand for rCB will increase over time and, if it does, the manufacturer may increase its demand from Pyrolyx beyond the initially stipulated annual tonnage. The LOI is a non-binding statement of intention of the parties to enter into the supply agreement. Pyrolyx is confident a binding supply agreement will be entered into with the tyre manufacturer.