End-of-life tyre raw materials firm Bolder Industries has purchased a former Pyrolyx facility in the USA. It will retrofit the plant in Terre Haute, Indiana, which ceased operations in March 2020, with the Bolder Industries proprietary solution. Bolder will use the facility to increase its manufacturing capacity and commence production there early in 2023.
Recycled carbon black compnay Pyrolyx AG has cancelled the extraordinary general meeting it had scheduled for 15 January 2021, and has done so as the company has filed to open insolvency proceedings. The case (number 1507 IN 2125/20) was filed with the Munich District Court on 4 December 2020.
Pyrolyx USA Indiana has filed for Chapter 7 liquidation bankruptcy with the US Bankruptcy Court in Delaware. The 66,000sqft Terre Haute plant had not resumed operations since they were suspended in March, in part leading to its withdrawal from the Australian and German Stock Exchanges in September 2020. The factory cited the Covid-19 pandemic as the reason for its suspension. Upon completion, the company claimed the plant was the largest of its kind in the world.
Continental AG and Pyrolyx have entered into a five-year recycled carbon black (rCB) supply agreement for Continental tyre manufacturing facilities worldwide. The companies have been cooperating on developments in the technology field of recovered carbon black “over recent years”, according to Continental. Furthermore, the latest joint development commitment aims to lay the foundation for using recovered carbon black (rCB) in various tyre segments during tyre production.
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.
Munich-based recovered carbon black (rCB) manufacturer Pyrolyx has signed two agreements that will advance plans to construct a rCB plant in Terre Haute, Indiana, USA.
The company has signed a multi-year supply agreement in the US with an unnamed masterbatch manufacturer that calls for Pyrolyx to supply rCB sourced from end-of-life tyres for use in colourants, special effects and additives that go into masterbatch. The deal involves securing long-term supply with a price advantage, Pyrolyx said.