Beskrivning
Land | Nederländerna |
---|---|
Lista | Euronext Growth Oslo |
Sektor | Energi & Miljö |
Industri | Miljö & Återvinning |
2024-02-01 17:00:00
Pryme amends the terms of the supply contract with Shell
Rotterdam, February 1, 2024
Following the start of production at Pryme's first plant, Pryme One, Pryme has
entered into an amendment to the supply contract with Shell. The amendment
ensures that the contract is in line with what Pryme considers to be market
conditions for pyrolysis oil while building a robust and attractive value chain
for both Pryme and Shell. The contract has been revised to incorporate learnings
in developing this new value chain and includes terms to better reflect the
current conditions in this promising market. Moreover, the contract provides a
direct outlet for Pryme for the pyrolysis oil volumes that will be a feedstock
for Shell's Moerdijk Upgrader.
The Company expects the amended terms to materially improve the resulting
financial performance of Pryme One. An update of Pryme's financial outlook will
be provided in the Company's next investor presentation.
The revised terms in the supply contract amendment further establish Shell as
the primary customer for the pyrolysis oil produced at Pryme One.
"Since the beginning, Shell has been a supportive ally of Pryme, and this
contract amendment is testament to Shell's commitment to developing plastic
circularity on an industrial scale using advanced recycling. We at Pryme eagerly
anticipate delivering our first shipment of pyrolysis oil to Shell in the
coming weeks, that will later be processed in Shell's Moerdijk Upgrader
following start up." said Christopher Herve, CEO of Pryme N.V.
For investor inquiries: ir@pryme-cleantech.com
About Pryme | www.pryme-cleantech.com
Pryme N.V. is an innovative cleantech company focused on converting plastic
waste into valuable products through chemical recycling on an industrial scale.
Its efficient and scalable technology is based on a proven pyrolysis process
that has been further developed and enhanced with proprietary characteristics.
The company has completed its first plant in the port of Rotterdam, with an
expected annual intake capacity of about 40,000 metric tons