Pryme N.V. produces first oil                                                   
    Rotterdam, January 22nd, 2024

Pryme successfully initiated production at its  first manufacturing facility
with production of "first oil" on January 19th, 2024. This marks the start of
production and the first phase of development of the company's Rotterdam based
plant, Pryme One. 

During the first phase, which is expected to run through January and February,
Pryme will focus on the direct feeding of non-melted plastic waste into the
reactor from varied specifications and sources, both post-industrial and
post-consumer plastic waste. The operational objective of the first phase is to
calibrate the oil condensation process, to efficiently manage non-condensable
gases and to collect real-time production data in order to optimize the overall
plant performance. Phase one will have very limited production volumes.

Once the first phase is completed, the company will focus on feeding the reactor
with melted plastic through the two extruders via a melt pipe, the front-end of
the production. The integration of the front- and back-end (reactor and
condensation) processes is required in order to achieve high throughput
production.

The second phase is expected to continue into the third quarter at which time
phase three will commence. During phase three, Pryme expects to perform
production runs approaching the nameplate capacity of 40,000 metric tons of
waste plastic input annually with a production output of 30,000 metric tons of
liquefied plastic waste (also known as pyrolysis oil).
 
"We are excited to announce that Pryme One has successfully initiated production
of liquefied plastic waste, a significant milestone in our company's history.
After finalizing improvements on our reactor late last year, we have moved
forward with the hot commissioning activities in January. A key achievement this
week was the effective heating of our reactor to over 600 degrees Celsius,
enabling the processing of non-melted plastic waste into first oil and ash,
albeit in initial small quantities. It should be noted that this first small
production run was flawless.", 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 tons