Pyrum Innovations and the Czech Suas Group have signed an agreement establishing the joint venture through which they plan to build a tyre recycling plant. Pyrum will hold 49 per cent of the new company, Suas reTIRE s.r.o., and has contributed roughly €8.6m in equity. The equity agreement marks a key milestone in securing financing for the project, German pyrolysis technology company said last week. The partners have also agreed a ten-year offtake contract covering the pyrolysis oil to be produced at the future facility.
The chemical recycling plant is to be built on a site operated by Suas subsidiary Sokolovská uhelná in Vřesová, close to the German border. It has been designed to process more than 22,000 tonnes of end-of-life tyres per year. Pyrum noted that its planned stake in the venture had originally been lower but was increased following a capital raise in the autumn.
Pyrum had already reported in early March that the pyrolysis gas would be integrated into operations at the Vřesová site. The gas generated during pyrolysis can be used for electricity generation in existing Suas' power plant without additional investment. The investment volume at the time was estimated at around €57m.
The next steps in the joint project include finalising loan agreements with the lending bank and signing the plant supply contract. Plant components with long lead times are due to be ordered in spring 2026. The facility is expected to come on stream in 2027, the companies added.
Pyrum CEO Pascal Klein welcomed the cooperation with Suas and the next steps that would be taken together. "By securing the equity base and concluding the oil purchase agreement, we have reached two decisive milestones that further strengthen confidence in our joint project," he said.
