An historic success for Pyrum Innovations AG Pyrum’s partner Thermo Lysi SA has received the renowned funding approval from the European Innovation Fund (EIF)
This means that the financing of the joint recycling plant in Greece is now fully secured – a project that sets new standards for sustainability and innovation. The EIF is subsidising the construction of the recycling plant with EUR 29.4 million in funding. With a planned capacity of around 45,000 tonnes of end-of-life tyres per year, the plant will be twice as large as originally planned and one of the largest and most modern pyrolysis plants in Europe. The plant is based on Pyrum‘s innovative thermolysis technology, with up to six state-of-the-art Pyrum reactors forming the heart of the facility. The total investment amounts to around EUR 100 million, and Pyrum intends to acquire a stake of at least 10% in the project company’s equity.
Pascal Klein, CEO of Pyrum Innovations AG said; “We would like to congratulate our partners, Thermo Lysi SA and Impactus Private Equity Group, on the subsidy approval. This funding is a major boost for our technology and sends a clear signal: Pyrum represents the future of Europe‘s circular economy. With the support of the EIF, we are realising one of the largest recycling projects in Europe – a strong sign of innovation, sustainability and economic strength.”
The recycling plant will be built on a site approximately 140 km north of Athens in the Livanates region. With the building and environmental permits already in place, all the necessary approvals for the construction and licences for the operation of the new plant in Greece have been obtained, meaning that the project is now fully ready to go. Furthermore, Pyrum and Thermo Lysi signed an engineering contract worth around EUR 2.2 million in mid-May. Detailed engineering is in full swing and should ideally be adapted to Greek law by the end of the first quarter of 2026. In addition, an EPC contractor will take over the construction and ordering of the plant components.
