Pyrum Innovations AG, a company specializing in the recycling of end-of-life tires through thermolysis, published its interim consolidated report for the first half of 2026 on September 23, 2026. Revenue for the period from January 1 to June 30, 2026, rose by approximately 37.6% to EUR 1,743 thousand, compared to EUR 1,267 thousand in the same period of 2025. However, this growth fell short of expectations due to the delayed ramp-up of the company’s new grinding and pelletizing plant in Dillingen, Germany.
The delay in the plant’s ramp-up has led Pyrum to adjust its forecast for the full year 2026. The company now expects revenue between EUR 4.2 million and EUR 5.3 million, down from the previously projected EUR 6.5 million to EUR 9.5 million. Total output for the year is forecasted at EUR 11.0 million to EUR 14.0 million, reduced from the earlier estimate of EUR 12.0 million to EUR 18.0 million. Consolidated EBIT is now expected to range from approximately EUR -10.0 million to EUR -12.5 million, compared to the prior forecast of EUR -8.0 million to EUR -10.5 million.
CEO Pascal Klein commented on the operational challenges: “In the project area, we were able to make significant progress in the first half of the year. Based on this, we were able to sign the first plant purchase agreement with our Czech partner at the end of August.” He also noted that the company received delivery approval from Continental for its ThermoTireBlack® produced by the new plant. However, the plant’s throughput is currently at 1,250 kg/h, below the manufacturer’s guaranteed 1,650 kg/h. The bottleneck lies in the conveyance of ground material, and the supplier is working on technical solutions.
To mitigate the production shortfall, Pyrum has received temporary approval to extend production hours from 16 to 24 hours per day for two months, with a third shift expected to be operational by the end of September. Klein stated, “The additional production time helps us, in the short term, to make up for some of the shortfall and continue supplying our customers. For us, however, the key is a sustainable technical solution.”
In positive news, Pyrum’s Swedish project partner, GreenTech Recycling Tires AB, recently received a grant commitment of EUR 24 million. Klein remarked, “This grant commitment makes a significant contribution to the project’s financing, and we are delighted for our project partner, GreenTech. As a result, we expect this project to gain momentum by the first quarter of 2027 at the latest.” The joint project aims to build a thermolysis plant with a recycling capacity of 22,700 tons of end-of-life tires per year, with permit applications already under review.
Pyrum Innovations AG has been revolutionizing the used tire recycling market since 2008 with its proprietary thermolysis technology, which enables nearly emission-free recycling of end-of-life tires and certain plastics. The company produces high-quality products such as pyrolysis oil (TTO) and recovered carbon black (TTB) used by industry partners. The company’s consolidated interim report for H1 2026 is available on its website at https://www.pyrum.net/en/investor-relations/financial-publications/. A webcast for shareholders, analysts, and media representatives is scheduled for today at 11:00 a.m., with registration at https://www.appairtime.com/event/e33f9184-39e6-4246-a7ec-687ff05f5477. For more information, visit www.pyrum.net.
