Pyrum innovations secures €29.4m EU funding for Greece plant

Pyrum Innovations AG, with partner Thermo Lysi SA, announced €29.4m in funding from the European Innovation Fund (EIF) for a joint recycling plant in Greece. This EIF subsidy fully secures financing for the €100m project, which will be twice its original planned size with a capacity of about 45,000 tonnes of end-of-life tyres annually. Pyrum intends to acquire at least a 10% equity stake in the project company.

The plant, using Pyrum's thermolysis technology with up to six reactors, will be built in the Livanates region, about 140 km north of Athens. All necessary building and environmental permits, as well as operational licenses, are secured. An engineering contract worth €2.2m was signed in mid-May, with detailed engineering expected to be adapted to Greek law by the end of Q1 2026.

Pyrum Innovations AG has developed its thermolysis technology since 2008 to recycle end-of-life tyres and plastics, recovering high-quality products like thermolysis oil and rCB. Its first plant in Dillingen/Saar has been operational since 2020, with two additional plants added in 2024.