Pyrolyx secures funding for US plant expansion
Pyrolyx has signed a five-year mezzanine financing agreement for 5 million euros (about $6.1 million) with USAmerican Arena Growth Holdings. The capital will be used to finance global expansion, the development of production in the US, and optimization of Pyrolyx’s existing production capacity.
In February Pyrolyx said that the commissioning of its US plant in Terre Haute, Indiana, is scheduled for early 2019, after which it will produce around 13,000 metric tonnes of rCB annually. The company will be able to recycle about 4 million scrap tyres, which it says is equivalent to approximately 1 per cent of the annual scrap tyre volume in the US.
The resulting rCB will be used to produce new tyres, plastics and industrial rubber products by Pyrolyx’s customers in the US.
The company has operated a recovered carbon black facility in Germany since 2012.