Press release
of Pyrum Innovations AG

Pyrum Innovations AG publishes figures for the first half of 2023
o	Sales slightly above previous year's level at EUR 501 thousand
o	Consolidated net loss for the period of EUR -4,408 thousand (H1 2022: EUR
-3,487 thousand)
o	Cold commissioning phase of the new plant in Dillingen largely completed

Dillingen / Saar, 15 September 2023 - Pyrum Innovations AG ("Pyrum", the
"company", ISIN: DE000A2G8ZX8), a pioneer in the sustainable recycling of
end-of-life tyres (ELT) based on its patented pyrolysis technology, today
published its consolidated financial report for the period from 1 January to 30
June 2023. The company's half-year results and financial position were mainly
characterised by the high level of investment at the company's headquarters in
Dillingen/Saar and the further expansion of personnel and organizational
structures. In addition, the throughput in the plant for rCB grinding and
pelletising was not yet in the planned and desired range in terms of volume. 

Sales in the first six months amounted to EUR 501 thousand and were thus
slightly higher than in the first half of 2022 (EUR 485 thousand). Own work
capitalised amounted to EUR 7,613 thousand (H1 2022: EUR 8,495 thousand) as
construction of the plant expansion in Dillingen progressed according to plan.
The decrease corresponds to the lower cost of materials needed to build the new
plant as the degree of completion of the plant expansion increases. As expected,
total output fell by around 11% year-on-year to EUR 8,155 thousand (H1 2022: EUR
9,197 thousand) due to a decline in own work capitalised. 

In the reporting period, other operating income totalling EUR 356 thousand was
generated (H1 2022: EUR 916 thousand), mainly resulting from investment grants
of EUR 152 thousand and research grants of EUR 150 thousand. In the prior-year
period, other operating income was still dominated by research grants for the
BlackCycle project. The consolidated net loss for the period amounted to EUR
-4,408 thousand (H1 2022: EUR -3,487 thousand). Cash and cash equivalents as of
30 June 2023 amounted to EUR 5,431 thousand (December 31, 2022: EUR 12,519
thousand).

Pascal Klein, CEO of Pyrum Innovations AG: "We are very proud that despite the
current challenges in the supply chain, all components for our new pyrolysis
plant in Dillingen have arrived and we were able to successfully start the
commissioning in July 2023. In addition, we are currently working on the
planning, approval documents and designs for four plants with a total of 12
production lines to be built in the next two to three years in cooperation with
renowned joint venture partners. We are also in negotiations for further plants,
so we are confident that by the end of 2023 our project pipeline for the next
two years will already be fully secured with corresponding consulting contracts.
In addition to these customer projects, we are also in the process of building
our next own plant in Homburg/Saar and are already looking for suitable sites
for further Pyrum-owned plants planned for the medium term, each with a capacity
of 20,000 tons of ELT. We will need substantial financial resources to realise
this extensive project pipeline."

Currently, Pyrum is in negotiations to determine the future financing modules
for further growth, which are expected to be completed in the fourth quarter of
2023.

Pyrum Innovations AG will offer an English-language webcast for investors,
private shareholders and members of the press on the current business
development on Monday, 18 September 2023, at 10:00 am (CEST). Interested parties
can register to participate at https://bit.ly/3PaTkh7. 

The consolidated interim report for the first half of 2023 of Pyrum Innovations
AG is available on the company's website at
https://www.pyrum.net/investoren/finanzpublikationen/. 


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