Pyrolyx AG has announced that the cash capital increase decided in November 2016 has been fully realised. A large portion of the cash capital increase was subscribed to a value of EUR 13.00 per new share, well above the originally planned issue value of EUR 11.00.
Cash Capital Increase Part of Pyrolyx AG’s Business Expansion
The net proceeds are primarily to be used for international business expansion. In December 2016, Pyrolyx AG announced its entry into the US market through a joint venture with Reklaim Inc. As a result, the company is the only supplier of recovered carbon black (rCB) from ELT that is present in both Europe and America.