DGAP-News: Pyrolyx AG
/ Key word(s): Incoming Orders
- Delivery of 10,000 tons per year planned within next five years
Hanover, November 11, 2019. Continental, technology company and manufacturer of premium tires, and Pyrolyx have been cooperating on developments in the technology field of recovered carbon black over recent years. This joint development commitment aimed to lay the foundation for using recovered carbon black (rCB) in various tire segments during tire production. Pyrolyx and Continental are pleased to announce that the companies have entered into a five-year rCB supply agreement for Continental tire manufacturing facilities worldwide.
This announcement is a major step in addressing the global challenge of improving the sustainability of tire manufacturing and materials consumption. Pyrolyx expects to absorb over 3,000,000 end-of-life tires and to reduce CO2 emissions by more than 25,000 tons annually compared to traditional carbon black under this agreement.
"Continental is excited to be entering this long-term relationship with Pyrolyx as it underlines our commitment to improving the sustainability of our products and operations. We are committed to innovative, environmentally beneficial technologies for our customers, while ensuring our tires meet the highest levels of safety performance," says Dr. Andreas Topp, Vice President Material and Process Development and Industrialization at Continental.
Pyrolyx's USA CEO, Thomas Redd, said: "This supply agreement is an extremely positive development for Pyrolyx and validates our approach to the recovery of carbon black from end-of-life tires and the acceptance of rCB globally. The validation of Pyrolyx's rCB is a 'game changer' for Pyrolyx and the recovered carbon black industry."
The supply agreement will support Pyrolyx's growth with additional manufacturing facilities in North America and Eastern Europe, and specifically details sales over the next three years rising to 10,000 tons per year. This agreement highlights the commitment of Continental and Pyrolyx to creating environmentally sustainable supply chains for tire manufacturing.
Continental develops pioneering technologies and services for sustainable and connected mobility of people and goods. Founded in 1871, the technology company offers safe, efficient, intelligent, and affordable solutions for vehicles, machines, traffic and transportation. In 2018, Continental generated preliminary sales of EUR44.4 billion and currently employs around 244,000 people in 60 countries and markets.
The Tire division has 24 production and development locations worldwide. As one of the leading tire manufacturers with around 54,000 employees, the division posted preliminary sales of EUR11.4 billion in 2018. Continental ranks among the technology leaders in tire production and offers a broad product range for passenger cars, commercial vehicles and two-wheelers. Through continuous investment in R&D, Continental makes a major contribution to safe, cost-effective and ecologically efficient mobility. The Tire division's portfolio includes services for the tire trade and for fleet applications, as well as digital management systems for commercial vehicle tires.
Pyrolyx AG (WKN A2E4L4) is the world leader in the recovery of rCB (Recovered Carbon Black) from used tires. rCB is used both in the manufacture of new tires and in the plastics, technical rubber and masterbatch industries.
The company's shares (ARBN: 618 212 267) are listed on the Frankfurt and Düsseldorf stock exchanges and CDIs are listed on the ASX (Australian Stock Exchange) under the ticker PLX (ASX: PLX). Further information can be found at www.pyrolyx.com
Continental Tire Division
Phone: +49 (0) 511 938 21813
Landshuter Allee 8-10
Phone: +49 89 21027 200
10.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Landshuter Allee 8-10|
|Phone:||+49 (0)89 54558 310|
|Listed:||Regulated Unofficial Market in Dusseldorf (Primärmarkt), Frankfurt|
|EQS News ID:||908845|
|End of News||DGAP News Service|