Pyrum Innovations AG, a pioneer in end-of-life tire recycling, released its interim consolidated report for the first half of 2026, revealing a 37.6% rise in revenue to EUR 1,743 thousand compared to EUR 1,267 thousand in the same period last year. Despite this growth, the company has adjusted its full-year forecast downward, citing unexpected delays in the ramp-up of its new grinding and pelletizing plant in Dillingen. The announcement, made via NEWMEDIAWIRE, underscores the challenges of scaling innovative recycling technologies even as demand for sustainable materials grows.
The revenue increase was driven by ongoing operations, but the plant's throughput has reached only 1,250 kg/h, well below the manufacturer's guaranteed 1,650 kg/h. This shortfall has prompted Pyrum to revise its 2026 revenue projection to EUR 4.2–5.3 million, down from the previous EUR 6.5–9.5 million. Total output is now expected to be EUR 11.0–14.0 million, and consolidated EBIT is forecast at approximately EUR -10.0 to -12.5 million. The bottleneck, located in the conveyance of ground material from the buffer hopper, is being addressed by the supplier, but the delay has already impacted financial performance. For H1 2026, EBITDA was EUR -4,358 thousand, roughly on par with the adjusted prior-year figure of EUR -4,369 thousand, while consolidated net result was EUR -7,003 thousand. Available liquidity stood at EUR 6,102 thousand as of 30 June 2026, down from EUR 17,006 thousand at the end of 2025.
CEO Pascal Klein commented, "In the project area, we were able to make significant progress in the first half of the year. Based on this, we were able to sign the first plant purchase agreement with our Czech partner at the end of August." He also noted that Continental approved the company's ThermoTireBlack® produced by the new plant in May 2026. To mitigate the production shortfall, Pyrum has secured temporary approval to extend production hours to 24 hours per day for two months, with a third shift expected by the end of September. However, Klein acknowledged that this will not fully compensate for lost production and will incur higher operating costs.
On a positive note, Pyrum's Swedish project partner, GreenTech Recycling Tires AB, received a grant commitment of EUR 24 million. Klein stated, "This grant commitment makes a significant contribution to the project's financing, and we are delighted for our project partner, GreenTech. As a result, we expect this project to gain momentum by the first quarter of 2027 at the latest." The joint plant aims to recycle 22,700 tons of end-of-life tires annually, with permit applications already under review.
Pyrum's thermolysis technology enables nearly emission-free recycling of tires and plastics, producing pyrolysis oil and recovered carbon black for use in new products. The company's interim report is available on its website at https://www.pyrum.net/en/investor-relations/financial-publications/. A webcast for investors, analysts, and media will be held today to discuss these developments. For more information, visit www.pyrum.net.
