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    SIE   DE0007236101

SIEMENS AG

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Pyrum and Siemens enter into partnership for further technological development of Pyrum's pyrolysis plants

06/23/2022 | 02:01am EDT
Press release
of Pyrum Innovations AG

Pyrum and Siemens enter into partnership for further technological development
of Pyrum's pyrolysis plants

Dillingen / Saar, 23 June 2022 - Pyrum Innovations AG ("Pyrum"), a pioneer in
the sustainable recycling of end-of-life tyres (ELT) based on its patented
pyrolysis technology, has entered into a partnership agreement with the
technology group Siemens. The aim of the partnership is to further promote,
optimise and scale Pyrum's pyrolysis plants technologically and economically
with Siemens' digitalisation and automation portfolio. Pyrum and Siemens share
the goal of developing sustainable technologies as well as promoting their
respective economic growth. 
The partnership provides for Siemens to support Pyrum and Pyrum's customers in
the selection of optimal technology in the areas of process automation, process
analytics, drive technology and digitalisation, among other things. In addition,
Siemens will help, for example, with the optimisation of process procedures as
well as with training and further education, for example by jointly organising
workshops and training sessions. The plan is to start implementing the various
measures immediately. After BASF and Continental, the partnership with Siemens
is already Pyrum's third agreement with a well-known German industrial company.
In addition, there are further cooperations with numerous internationally
operating companies, such as Michelin, Pirelli, Schwalbe or ELDAN.

Pascal Klein, CEO of Pyrum Innovations AG: "We are constantly trying to develop
our pyrolysis plants and increase both productivity and user-friendliness in
order to continue to provide the best offer on the market. We are convinced that
our partnership with Siemens will make our pyrolysis plants even more attractive
to existing and potential customers. In doing so, we are driven by the long-term
goal of achieving a circular economy in ELT recycling as soon as possible."

About Pyrum Innovations AG
Pyrum Innovations AG is active in the attractive recycling market for
end-of-life-tyres with its patented pyrolysis technology. Pyrum's pyrolysis
process is energy self-sufficient, saves a large portion of the CO2 emissions
normally generated during the disposal of end-of-life-tyres in a cement plant
and produces new raw materials such as pyrolysis oil, gas and recovered carbon
black from the waste used as input materials. In this way, Pyrum closes the
recyclable material loop and pursues a completely sustainable business model. As
a pioneer, Pyrum Innovations AG was the first company in the end-of-life-tyre
recycling sector to receive REACH registration from the European Chemicals
Agency (ECHA) for the pyrolysis oil it produces. This means that the oil is
recognised as an official raw material that can be used in production processes.
In addition, Pyrum has received ISCC PLUS certification for the pyrolysis oil
and the recovered carbon black. Both products are thus considered sustainable
and renewable raw materials. These achievements have also been recognised by
international experts in the tyre industry. For example, Pyrum won the Best Tyre
Recycling Innovation category at the inaugural Recircle Awards and has been
nominated for the "Grand Prix Mittelstand" ("Großer Preis des Mittelstandes")
from the German state of Saarland.

About Siemens AG
Siemens AG (Berlin and Munich) is a technology company focused on industry,
infrastructure, transport, and healthcare. From more resource-efficient
factories, resilient supply chains, and smarter buildings and grids, to cleaner
and more comfortable transportation as well as advanced healthcare, the company
creates technology with purpose adding real value for customers. By combining
the real and the digital worlds, Siemens empowers its customers to transform
their industries and markets, helping them to transform the everyday for
billions of people. Siemens also owns a majority stake in the publicly listed
company Siemens Healthineers, a globally leading medical technology provider
shaping the future of healthcare. In addition, Siemens holds a minority stake in
Siemens Energy, a global leader in the transmission and generation of electrical
power.

Contact
IR.on AG
Frederic Hilke
Phone: +49 221 9140 970
Email: pyrum@ir-on.com  

Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen / Saar
Email: presse@pyrum.net
https://www.pyrum.net/en

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
PYRUM INNOVATIONS AG 0.86% 700 End-of-day quote.-31.37%
SIEMENS AG 1.49% 110.18 Delayed Quote.-28.84%
SIEMENS ENERGY AG 0.06% 16.515 Delayed Quote.-26.46%
SIEMENS HEALTHINEERS AG 2.38% 52.4 Delayed Quote.-22.21%
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Sales 2022 69 331 M 70 415 M 70 415 M
Net income 2022 5 600 M 5 688 M 5 688 M
Net Debt 2022 37 000 M 37 579 M 37 579 M
P/E ratio 2022 16,9x
Yield 2022 3,81%
Capitalization 86 207 M 87 555 M 87 555 M
EV / Sales 2022 1,78x
EV / Sales 2023 1,67x
Nbr of Employees 303 000
Free-Float 88,4%
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Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Head-Corporate Finance, Accounting & Controlling
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Bernhard Wardin Head-Technology & Innovation
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