Pyrum Innovations AG, a specialist in end-of-life tire recycling, announced its interim results for the first half of 2026, reporting revenue growth alongside operational challenges that prompted a downward revision of its full-year outlook. The company, based in Dillingen, Germany, generated revenue of EUR 1,743 thousand in the six months ended June 30, 2026, an increase of approximately 37.6% compared to EUR 1,267 thousand in the prior-year period. However, this fell short of internal expectations due to the delayed ramp-up of the new grinding and pelletizing plant at its Dillingen site.
Total output for the period decreased to EUR 3,787 thousand from EUR 6,712 thousand in H1 2025, primarily because key plant components completed their transition to regular operation in the second quarter of 2025, reducing capitalized own work. Other operating income fell to EUR 496 thousand from EUR 2,303 thousand, as the prior-year figure included non-recurring government investment grants related to the completion of thermolysis plants TAD 2 and TAD 3. Adjusted for these grants, EBITDA for H1 2026 was EUR -4,358 thousand, essentially on par with the adjusted prior-year figure of EUR -4,369 thousand. EBIT amounted to EUR -6,297 thousand, and the consolidated net result was EUR -7,003 thousand. Available liquidity stood at EUR 6,102 thousand as of June 30, 2026, down from EUR 17,006 thousand at the end of 2025.
CEO Pascal Klein highlighted progress in project development, including the first plant purchase agreement with a Czech partner signed in late August and delivery approval from Continental for ThermoTireBlack® produced at the new plant. However, he acknowledged that production volumes have only reached 1,250 kg/h, below the manufacturer’s guaranteed throughput of 1,650 kg/h. “The bottleneck lies in the conveyance of the ground material from the buffer hopper to the downstream process steps,” Klein explained. The supplier is working on technical solutions, and Pyrum has temporarily extended production hours to 24 hours per day for two months, with a third shift starting by the end of September.
Due to the delayed ramp-up, Pyrum revised its 2026 forecast. Full-year revenue is now expected between EUR 4.2 million and EUR 5.3 million, down from the previous range of EUR 6.5 million to EUR 9.5 million. Total output is projected at EUR 11.0 million to EUR 14.0 million, and consolidated EBIT is anticipated to be between approximately EUR -10.0 million and EUR -12.5 million. The adjustment reflects both lower revenue and expected product and project development in the second half.
In positive news, Pyrum’s Swedish project partner, GreenTech Recycling Tires AB, received a grant commitment of EUR 24 million, which will significantly support financing for a joint thermolysis plant with an annual recycling capacity of 22,700 tons of end-of-life tires. Permit applications are under review, and a suitable site has been identified. Pyrum will host a webcast for investors, analysts, and media today at 11:00 a.m. to discuss these developments. Those interested can register at https://www.appairtime.com/event/e33f9184-39e6-4246-a7ec-687ff05f5477. The interim report is available at https://www.pyrum.net/en/investor-relations/financial-publications/.
The results underscore the challenges of scaling innovative recycling technologies, but also the potential for growth as Pyrum works to resolve technical bottlenecks and advance its international projects. The Swedish grant commitment, in particular, signals confidence in the company’s thermolysis technology and its role in advancing circular economy solutions for end-of-life tires.
