DGAP-News: Pyrolyx AG / Key word(s): Joint Venture/Letter of Intent
Pyrolyx AG: Pyrolyx AG Expands to USA
19.02.2015 / 09:15
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Pyrolyx Expands to USA
- Letter of Intent signed with CH2E Group, owner of the biggest tire
landfill in the US
- New Pyrolyx technology plant planned for Colorado in 2015/16
- 'Tire Mountain' to be dismantled using German technology
Munich, February 19, 2015
Pyrolyx AG, the market leader in the recovery of carbon black from scrap
tires, has announced a strategic partnership with the CH2E Group in
Colorado. The American CH2E Group owns the largest tire dump in the US with
a volume of roughly 600,000 tons.
Under the LOI for a future partnership signed on February 18, 2015, the
Munich-based company will start by erecting a commercially usable Pyrolyx
production plant on CH2E's site in Hudson, Colorado. The US company will
provide high-quality shredded scrap tires and the land required to build
the plant.
Commissioning is scheduled for 2016, after which Pyrolyx together with CH2E
will have the right to build further production lines for the recovery of
carbon black from end-of-life tires. By today's standards, this will be the
world's largest plant for the production of recovered carbon black.
Pyrolyx has developed a patented process in which high-quality carbon black
is obtained from scrap tires in a sustainable closed recycling loop. This
carbon black can then be used to manufacture new tires. The process is a
green technology that helps protect natural resources.
Niels Raeder, CEO of Pyrolyx AG, declared: "By partnering with the CH2E
Group, we have now taken the strategically important step of entering the
US market, the second-largest in the world. With Pyrolyx Carbon Black now
having been successfully tested by the tire industry, we'll be able to
produce a significant amount of recovered carbon black in the US when the
plant is complete. This will make a significant contribution to reducing
the world's scrap tire."
Pyrolyx
Pyrolyx AG is a Munich-based company specializing in practical and applied
research into environmental technology.
The company has developed a unique process that enables valuable raw
materials such as carbon black to be made from commercial rubber granules
produced from for instance end-of-life tires. Carbon black is used to
manufacture tires and various industrial rubber items. The Pyrolyx process
enables a sustainable closed recycling loop for the first time for the
reuse of end-of-life tires.
Pyrolyx owns all the intellectual property rights to Pyrolyx environmental
technology and has various patents and patents pending concerning the
industrial production of carbon black. Pyrolyx AG is quoted on the Primary
Market of Düsseldorf Stock Exchange (WKN A0MFXR).
Contact:
Rolf-Hendrik Arens
VP Communications & IR
Pyrolyx AG - München
E-Mail: arens@pyrolyx.com
Mobil: +49 (0) 151 - 70 10 10 70
Office: +49 (0) 89 856 335 - 0
www.pyrolyx.com
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Language: English
Company: Pyrolyx AG
Nymphenburger Str. 70
80335 München
Germany
Phone: +49 (0)89 856 335 50
Fax: +49 (0)89 856 335 55
E-mail: info@pyrolyx.de
Internet: www.pyrolyx.com
ISIN: DE000A0MFXR8
WKN: A0MFXR
Listed: Regulated Unofficial Market in Dusseldorf
End of News DGAP News-Service
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324885 19.02.2015
DGAP-News: Pyrolyx AG: Pyrolyx AG Expands to USA
| Source: EQS Group AG