Pyrum Innovations AG and Thermo Lysi SA have signed an engineering contract in the amount of EUR 2.2 million
The contract marks an important milestone for the company, as it is the first engineering contract to be signed after a plant has been granted a construction permit.
Pyrum will now begin the detailed engineering of the planned plant, which is expected to take six months.
In parallel, Thermo Lysi SA is currently engaged in financing discussions, including talks about EU funding that could cover part of the total costs. Both companies have decided to initiate detailed engineering even before the final financing decision is finalised in order to prepare the next steps of the project development in a targeted manner.
Pascal Klein, CEO of Pyrum Innovations AG said; “We are delighted that the project in Greece is moving to the next phase. It is a significant step, and we are proud that our technology will help to relieve the burden on the Greek waste tyre disposal system.”
This follows the announcement in January that Thermo Lysi SA had received approval to build a Pyrum plant for waste recycling using pyrolysis. Once the detailed planning has been completed, the internationally active Greek construction company Archirodon will adapt the documents to Greek law.
The recycling plant will be built on a site around 140 kilometres north of Athens in the Livanates region. Pyrum plans to acquire a 15 per cent stake in the project company‘s equity. Both companies currently expect project preparations of the first joint plant to begin in 2025.
