Pyrum Innovations AG has announced a significant breakthrough for its Greek operations, with partner company Thermo Lysi SA securing €29.4 million in funding from the prestigious European Innovation Fund (EIF). The grant completes the financing package for what will become one of Europe's largest and most advanced tyre pyrolysis facilities.
The recycling plant, to be constructed approximately 140 kilometres north of Athens in the Livanates region, represents a total investment of around €100 million. Following the EIF approval, the project's planned capacity has been doubled to process approximately 45,000 tonnes of end-of-life tyres annually.
The facility will utilise Pyrum's innovative thermolysis technology, incorporating up to six state-of-the-art Pyrum reactors as the core of the operation. This positions the plant amongst the largest and most modern pyrolysis facilities in Europe, demonstrating the scalability of Pyrum's circular economy solutions.
Pyrum Innovations AG intends to acquire a stake of at least 10% in the project company's equity, cementing its involvement in this landmark development.
The project is now fully ready to commence, with all necessary approvals already in place. Both the building permit and environmental permit have been obtained, providing full authorisation for construction and operation of the facility.
In mid-May, Pyrum and Thermo Lysi signed an engineering contract valued at approximately €2.2 million. Detailed engineering work is currently in full swing, with adaptation to Greek legal requirements targeted for completion by the end of the first quarter of 2026. An EPC (Engineering, Procurement and Construction) contractor will oversee the construction phase and ordering of plant components.
Pascal Klein, CEO of Pyrum Innovations AG, welcomed the funding announcement: "We would like to congratulate our partners, Thermo Lysi SA and the Impactus Private Equity Group, on the grant approval. This funding is an accolade for our technology and a clear signal: Pyrum stands for the future of the circular economy in Europe. With the support of the EIF, we are realising one of the largest recycling projects in Europe - a strong sign of innovation, sustainability and economic strength."
The European Innovation Fund's backing represents significant validation of Pyrum's thermolysis technology and its role in advancing Europe's circular economy objectives. The project demonstrates the growing institutional support for innovative recycling solutions capable of processing end-of-life tyres at industrial scale.
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