Pyrum Innovations AG increased revenue by 37.6% to €1.743 million in the first half of 2026, compared with €1.267 million a year earlier, as the tire pyrolysis company continued ramping up production and advancing new recycling projects. Revenue nevertheless remained below expectations because Pyrum’s new grinding and pelletizing plant in Dillingen has not yet reached its guaranteed throughput of 1,650 kg per hour. Current ThermoTireBlack® production has improved to as much as 1,250 kg per hour, but a bottleneck in conveying ground material from the buffer hopper to downstream processing stages continues to restrict output. The company has consequently lowered its full-year 2026 revenue forecast to €4.2 million–€5.3 million and expects consolidated EBIT of approximately minus €10 million to minus €12.5 million. At the same time, Pyrum reported progress in expanding its end-of-life tire recycling network, including a €24 million grant commitment for its planned Swedish project with GreenTech Recycling Tires AB and the first plant purchase agreement with its Czech project partner.

Revenue grows while total output declines

Pyrum generated revenue of €1.743 million between January and June 2026, up from €1.267 million in the first half of 2025. Own work capitalized declined to €1.122 million from €5.214 million, reflecting the completion and transition of major plant components at the Dillingen site into regular operation.

Total output consequently fell to €3.787 million from €6.712 million in the prior-year period. The change reflects Pyrum’s transition from construction and capitalization of new equipment toward commercial production at its expanded tire recycling facility.

Adjusted EBITDA remains broadly stable

Other operating income fell to €496,000 from €2.303 million in the first half of 2025. The previous year had benefited from government investment grants connected with the completion of the TAD 2 and TAD 3 thermolysis plants and other equipment at Dillingen.

Reported EBITDA for the first half of 2026 was minus €4.358 million. Adjusted for the non-recurring investment grants recorded a year earlier, prior-year EBITDA was minus €4.369 million, meaning underlying EBITDA remained broadly unchanged.

EBIT amounted to minus €6.297 million, compared with minus €3.942 million in the first half of 2025, or minus €5.954 million on an adjusted basis. Pyrum reported a consolidated net loss of €7.003 million for the six-month period.

Liquidity falls to €6.1 million

Available liquidity stood at €6.102 million at the end of June 2026, compared with €17.006 million at December 31, 2025. The decline comes as Pyrum continues investing in production ramp-up and new tire recycling projects.

The company is expanding a business model based on thermolysis of end-of-life tires and production of circular raw materials including ThermoTireOil and ThermoTireBlack, its tire-derived oil and recovered carbon black products.

ThermoTireBlack production reaches 1,250 kg per hour

Pyrum said modifications to its grinding and pelletizing plant have increased ThermoTireBlack output to as much as 1,250 kg per hour. However, this remains below the equipment supplier’s guaranteed throughput of 1,650 kg per hour.

According to CEO Pascal Klein, the current bottleneck is associated with transportation of ground material from the buffer hopper into downstream processing stages. The equipment supplier is working with Pyrum on technical measures intended to eliminate the restriction and bring the plant to its contractual production level.

Continental approval supports recovered carbon black sales

In May 2026, Pyrum received delivery approval from Continental for ThermoTireBlack produced by the new milling and pelletizing facility. The approval represents an important commercial milestone because it allows the recovered carbon black product to enter an established tire industry supply chain.

ThermoTireBlack is produced from the carbon-rich solid fraction generated through Pyrum’s end-of-life tire thermolysis process. After milling and pelletizing, the recovered carbon black can be supplied as a secondary raw material for new rubber and tire products.

Night shifts introduced to offset lost production

Pyrum had previously applied to local authorities to extend production hours at the Dillingen milling and pelletizing plant from 16 hours to 24 hours per day. The request has now been approved temporarily for two months.

The company expected to introduce a third production shift by the end of September, allowing the facility to operate during night hours and increase monthly ThermoTireBlack output during the fourth quarter.

Pyrum cautioned that additional shifts will not fully recover production already lost earlier in the year and will also result in higher operating costs. Management therefore views extended production hours as a temporary measure while a permanent technical solution is developed.

Pyrum lowers 2026 revenue forecast

Because of the slower-than-expected ramp-up of the milling and pelletizing plant, Pyrum has reduced its full-year revenue forecast to between €4.2 million and €5.3 million. The previous forecast had called for revenue of €6.5 million–€9.5 million.

The company also lowered its expected total output to €11 million–€14 million from the previous €12 million–€18 million range.

Consolidated EBIT is now expected to be between approximately minus €10 million and minus €12.5 million, compared with the previous forecast of minus €8 million–€10.5 million.

Swedish tire recycling project receives €24 million grant commitment

Pyrum also reported progress on its planned Swedish recycling plant with GreenTech Recycling Tires AB. GreenTech has received a grant commitment of €24 million, providing a significant contribution toward project financing.

The partners plan to build a thermolysis facility capable of processing approximately 22,700 tonnes of end-of-life tires annually. Applications for environmental, construction and operating permits are already being reviewed by the responsible authorities.

A site for the plant has also been identified based on its size, infrastructure and transportation connections. An adjacent thermal power plant is expected to utilize process gas generated by the future tire recycling facility.

Czech project reaches first plant purchase agreement

Pyrum said its project development activities also advanced during the first half of 2026. At the end of August, the company signed its first plant purchase agreement with its Czech project partner, marking an important step in the commercialization of its thermolysis technology beyond its own Dillingen operations.

The agreement supports Pyrum’s strategy of expanding through partner-owned plants in addition to developing its own tire recycling facilities.

Pyrum continues scaling tire-to-tire recycling model

Pyrum’s thermolysis technology processes end-of-life tires into secondary raw materials including ThermoTireOil and ThermoTireBlack. The company says the recovered products are used by partners in the chemical and tire industries to manufacture new materials and products.

Pyrum’s tire-derived oil is registered under REACH, while both ThermoTireOil and ThermoTireBlack are ISCC PLUS certified. As the company works through its current production bottleneck, expansion of recovered carbon black output and development of new tire pyrolysis projects remain central to its strategy for scaling circular tire recycling in Europe.

Original announcement by Pyrum Innovations AG.