Press release
of Pyrum Innovations AG

BASF supports Pyrum in financing the current rollout plan with an initial EUR 25
million

o	BASF and Pyrum have signed a new cooperation agreement
o	Start-up financing agreed for the realisation of at least three new plants by
2026

Dillingen / Saar, 15 November 2023 - Pyrum Innovations AG ("Pyrum", the
"Company", ISIN: DE000A2G8ZX8) and BASF Antwerpen NV have today signed a new
cooperation agreement. The agreement provides for a conditional loan of
initially EUR 25 million, to be drawn in tranches, which will serve as start-up
financing for the realisation of Pyrum Innovations AG's concrete project
pipeline until 2026. The object of the agreement is the planning, project
development and construction of at least three new plants, each with an annual
capacity of 20,000 tonnes of end-of-life tyres, using the funds provided. Pyrum
plans to use the funds in particular for the construction of the announced plant
in Saarland, Germany, as well as for the equity contribution and co-financing of
up to five of the projects announced in recent months with financially strong
partners.

BASF's new commitment strengthens the confidence of Pyrum's customers and other
financing partners who also want to invest in Pyrum's growth. Provided that
Pyrum will have secured additional funding of EUR 50 million, for example in the
form of corporate bonds via the capital market, loans or investments from
partners of jointly planned plants, BASF will provide a further EUR 25 million
as a loan to Pyrum under corresponding conditions. The aim of Pyrum and BASF is
to significantly expand the Company's production capacities. BASF already
acquired a stake in Pyrum Innovations AG in September 2020 as part of its
ChemCycling® project and has been sourcing pyrolysis oil from Pyrum ever since.
BASF feeds this oil into its production network and manufactures Ccycled®
products to which the recycled raw material is allocated via the mass balance
approach. This saves fossil raw materials and contributes to the circular
economy. The volumes of pyrolysis oil are to be significantly increased with the
new plants.

Pascal Klein, CEO of Pyrum Innovations AG: "The phase between proving that a new
technology works and achieving stable results, i.e. the industrial rollout, is a
very big challenge for companies after the initial start-up phase in terms of
financing. We are therefore very pleased about the valuable cooperation with
BASF and the trust that BASF has once again placed in us with this new
agreement. Following the successful project acquisition phase of the last twelve
months, nothing stands in the way of the realisation of our concrete rollout
plan with the start of construction of up to six plants by the end of 2025. On
the project side, we are practically "sold out" until the end of 2026 and are
now looking forward to realisation. The financing is the most important step
towards the commercial rollout of our unique pyrolysis technology and is the
basis for meeting the high demand for our products."


Christoph Gahn, Head of Chemical Recycling at BASF: "Thanks to Pyrum's
innovative and stable technology, we were able to feed the pyrolysis oil
produced from end-of-life tyres into our network as a recycled raw material.
With the new agreement, we want to support the scaling of the technology and
expand our customer portfolio with mass-balanced Ccycled® products."


About Pyrum Innovations AG
Pyrum Innovations AG is active in the attractive recycling market for
end-of-life tyres with its patented pyrolysis technology. Pyrum's pyrolysis
process is largely energy self-sufficient and, according to the Fraunhofer
Institute, saves significantly more CO2 emissions than today's standard
recycling processes for end-of-life tyres - especially compared to incineration
in cement plants - and produces new raw materials such as pyrolysis oil, gas and
recovered carbon black from the waste used as input materials. In this way,
Pyrum closes the recyclable material loop and pursues a completely sustainable
business model. As a pioneer, Pyrum Innovations AG was the first company in the
end-of-life tyre recycling sector to receive REACH registration from the
European Chemicals Agency (ECHA) for the pyrolysis oil it produces. This means
that the oil is recognised as an official raw material that can be used in
production processes. In addition, Pyrum has received ISCC PLUS certification
for the pyrolysis oil and the recovered carbon black. Both products are thus
considered sustainable and renewable raw materials. In addition, Pyrum has
received ISO 14001 certification for its environmental management system and ISO
9001 certification for its quality management system. These achievements have
also been recognised by international experts in the tyre industry. For example,
Pyrum won the Best Tyre Recycling Innovation category at the inaugural Recircle
Awards and has been nominated for the "Grand Prix Mittelstand" ("Großer Preis
des Mittelstandes") from the German state of Saarland.
https://www.pyrum.net/

Contact
IR.on AG 
Frederic Hilke 
Phone: +49 221 9140 970	
Email: pyrum@ir-on.com  

Pyrum Innovations AG
Dieselstr. 8
66763 Dillingen / Saar	
Email: presse@pyrum.net