PYRUM INNOVATIONS AG Pyrum Innovations AG
Pyrum Innovations AG
Investor Presentation 16.05.24
Disclaimer
This presentation contains statements about future developments based on current expectations, assumptions, estimates and predictions by management and on information currently available. Various known and unknown risks, unforeseeable developments, changes in the economic and political environment and other currently unidentifiable effects could lead to future results, the financial situation or the outlook for the company deviating from the estimates given here. No liability or guarantee is assumed for the completeness, correctness, appropriateness or accuracy of any information or opinion contained herein.
The statements in this presentation do not constitute any recommendation to buy or sell securities and are provided for information purposes only.
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Global End-of-Life-Tire (ELT) market accounts for approx. 30.9 mt p.a.
- as tightening regulatory environment forces countries and corporates to take action
Global ELTs in 2019
Worldwide annual volume of end-of-life tires:
30.9 million tonnes
=> Market size: 17 Billion €/Year*
Tightening regulatory environment
Landfill Ban
The landfill of End-of-Life-Tires and shredded tires is prohibited
European annual volume of end-of-life tires:
3.4 million tonnes | |
=> 1.9 Billion €/Year* | |
Available | |
tires | Burning |
10% | 2% |
Export
10%
Burning
50%
20242030
Granulates
30%
Granulates
10%
Export
2%
Potential
Available
Tires 86%
Ban on incineration
Prohibition of burning rubber products
Prohibited the use of shredded tire granulate outdoors
Ban of Rubber granulates
Summer 2023: EU has decided to forbid the use of | NEW |
rubber granulates for certain uses (microplastics) => | |
30 % of used tires are used for this purpose |
OEM Audits are requiring circularity grades
The market is pushing for new raw materials
Increasing cost of CO2
Burning tires becomes more and more expensive
- Base on 100 €/ton Gatefee, 250 €/ton Steel, 4 €/ton textile, 450 €/ton Pyrum Oil and 850€/ton rCB
3
Pyrum offers patented technology with strong value proposition…
… converting rubber into several high value chemical products - thermolysis oil, carbon and gas
How Pyrum creates value
Pyrum Oil: 270 kg/h
NEW
4
Our history in short with TRL (Technical Readiness Level)
Key milestones
TRL 1 - 4 | TRL 5 - 7 | TRL 8 | TRL 9 |
Building | EU Horizon | rCB MoU/HoT | Listing | High Class | rCB Offtake | New cooperation | ||||
Foundation | agreement | Frankfurt | City Council | |||||||
permission and | ||||||||||
of Pyrum | REACH | 2020 | Investment of 16 | Continental and | Stock | LCA with | Agreement | agreement and | Agreement for new | |
Innovations | start of | Project | Mio. € in Pyrum | Pirelli | Exchange | Fraunhofer | Continental | loan agreement | Plant in Perl-Besch | |
construction Certification | ||||||||||
2008 | 2013 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Latest success
Oil purchasing | Recycling contract | IPO | ISCC+ for | First 100% | Successful | ||
agreement (100 | Michelin Plant | rCB Bike Tire | Warm Ramp | RCS Certificate | |||
40 Mio. € | IMUG ESG | ||||||
rCB + Oil | |||||||
kT/year) | Homburg | "The Green | Up Line 2+3 | ||||
raised | Production | Rating "Very | for textile | ||||
Marathon" | |||||||
Good" | Industry | ||||||
JDA and rCB Offtake signed
with Continental
50 Mio. € new Loan Agreement for Roll Out financing
Schwalbe "The
Green Marathon"
first 100% rCB
Tire
Transformation from Start-Up to Automotive Supplier
5
The last important Milestone to close the loop: rCB
No rCB can be sold to the market without those certificates
Pyrum was transformed from a Start-Up to a certified Automative supplier in 1 year!
- Received certificates and changes in the last 12 months:
- Ecovadis: Silver Status
- VDA 6.3: Continental, Pirelli, Hankook, Mercedes, BMW
- ISCC+ for Oil and rCB
- ISO 9001, ISO 14001
- Completly new Company structure and staffing
- Milestone:
- First official rCB delivery in April 2023
- First "in Spec" production since July 2023
- Stable "in Spec" production since August/September 2023
- ESSENTIAL for Order of new Line!
- Price drop from 12 Mio. € to 6 Mio. € (incl. Supplier Guarantees)
milling | pelletizing | |
Carbon (TCU) | Milled rCB | rCB |
0,5 - 5 mm | 10 - 14 µm | 0,8 - 2 mm |
Hardness 35 - 50 cN | ||
6
Important rCB Milestones, Quantity increase required
rCB is ready, we just need more of it!
Turnover importance per product stream
Turnover | Turnover/ | TAD 1 | TAD 2 Capacity | |
Type | Plant | capacity 1 | Today1 | Est. 20251 |
Gate fee | 19 % | 65 % | 80 % | 100 % |
Steel | 10 % | 65 % | 80 % | 100 % |
Oil | 18 % | 65 % | 80 % | 100 % |
Textile | 1 % | 65 % | 80 % | 100 % |
rCB | 52 % | 20 % ³ | 0 % ² | 100 % |
1 Technically possible hourly capacities, compared to Pyrum Serial Line , ² Under Construction. ³ Capacity limit reached
- The rCB sales represent more than 50% of the revenues of a plant
- Turnover will only increase significantly once higher rCB volumes can be produced => New line is ordered
rCB Ramp Up from Mill and Pelletizer 1 (Q1 23 - Q1 24)
92,88
100
80,14 | |
80 | |
59,74 | |
tonnes | 60 |
39,53 | |
40
19,84
20
0
Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
- Stable improvement of rCB production (drop in Q3 2023 due to audit modifications)
- Stable industrial deliveries to Continental and Schwalbe since 2023
- First real products have entered the market in 2023 and demand is strongly rising
- The existing Technology, developed in the last 2 years together with Continental, runs stable, reliable and produces automotive quality products BUT should reach its capacity limits with max 70 - 80 tons per month = It just needs to be bigger!
- New Mill and Pelletizing is designed according to facts = new Pin Mixer is > 5 times bigger
- Long term rCB Offtake Agreements are under negotiation
Real applications of circularity
- areas of use that are already in operation
Schwalbe Recycing System and "THE GREEN MARATHON"
• Already 1.850 bike stores in Germany are participating = almost 1/3 of German market.
• The first 100% Pyrum rCB tire was released at the EUROBIKE in June 2023
• New Products will be presented at EUROBIKE 2024
8
Real applications of circularity
- areas of use that are already in operation
Continental Tires since September 2023
- Solid tires from Continental's tire plant in Korbach now contain recovered carbon black from end-of-life-tires
- By 2050 at the latest, Continental aims to use 100 percent sustainable materialsin its tire products
- Solid Tires produced since Calendar week 23 2023 contain Pyrum rCB
Source: Continental Press Release 12.09.2023
9
Dillingen plant was one industrial production line for end-of-life-tires…
… and has been running on industrial scale since May 2020 with commercial sales
Overview of the operational unit1
Comments
1 Feedstock (end-of-life-tires) and shredding unit: granulating whole tires and separating rubber from steel and textile fibers
2 |
Pyrum
Reactor
1 | Feedstock and Shredding | |||
Cooling | ||||
Unit | Oil and Nitrogen | |||
3 | 4 | 5 | Carbon Mill and Pelletizer | |
Tanks |
2 | ||
Pyrum reactor: patented2 main part of the Pyrum | ||
process. 25-meter-high tower transforming rubber | ||
granulates into pyrolysis oil, carbon and gas | ||
3 | Standardized cooling unit to cool the whole process | |
and all end-products | ||
4 | Oil tanks (40,000 liters underground) and pumping | |
station: to fill trucks with Pyrum oil + nitrogen | ||
5 | Carbon mill and pelletizer: to transform raw carbon to | |
commercially recovered Carbon Black (rCB)3 | ||
6 | Gas generator: generation of power for the Pyrum plant | |
thanks to the produced gas from the process | ||
7 | Storage and cleaning of pyrolysis gas: before it enters | |
the gas generator | ||
6 | CHPG | 7 | 8 | Control Room |
Pyrum Gas |
Notes: (1) Current capacity of 5,600 tons p.a.; (2) Patents are owned by Pyrum Innovations International S.A.; (3) In Full operation since April 2023
8 Control room: controlling the entire plant with 2-3 |
persons only |
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Disclaimer
Pyrum Innovations AG published this content on 17 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 May 2024 07:48:05 UTC.
