Pyrolyx AG "on target" for 2014

ERJ staff report (TP)

Munich, Germany – Pyrolyx AG has met all its targets and extended testing and collaboration to nearly all leading tire manufacturers, according to its CEO Niels Raeder.

At its Annual General Meeting at the Munich Stock Exchange in June, Raeder said tires containing Pyrolyx carbon black had been successfully produced for test purposes in 2013 in cooperation with two international tire manufacturers – one of them named as Continental AG.

He added that Pyrolyx would “notch up its first sales as planned before 2014 was out”.

In voting, shareholders “expressed confidence in the management board and supervisory board”. They also carried resolutions to create new authorised capital and new contingent capital to fund the issue of future convertible bonds and/or bonds with warrants.

Now that a license partner has been granted a full construction and operating permit, the management board “held out the possibility of supporting and speeding up the erection of an initial plant by supplying components”.

Pyrolyx is “currently holding further negotiations and meetings at an international level on the building of carbon black plants”.

ERJ spoke with Pyrolyx, who said it hopes to provide detailed information concerning these plants at the end of the summer.

The German firm’s 2013 financial statements were reported by ERJ in April. More details here.