US Bonds Valued at $30,185,000 Successfully Closed
MUNICH, GERMANY / ACCESSWIRE / August 21, 2017 /Pyrolyx AG is pleased to announce today that its US subsidiary, Pyrolyx USA Indiana, LLC, closed $30,185,000 of Economic Development Solid Waste Facility Revenue Bonds.
The proceeds of the bonds will be used to construct Pyrolyx's first US recovered Carbon Black (rCB) plant in Terre Haute, Indiana. Annually, the factory will recycle over 4 million passenger tires in an environmentally sustainable way and produce rCB for tire, technical rubber, and masterbatch manufacturers.
Niels Raeder, CEO of the Pyrolyx Group, noted, "We are excited to have successfully closed these bonds, which, in addition to our recent IPO on the Australian Stock Exchange, allows us to expand manufacturing capacity in a way that will revolutionize the carbon black industry."
Thomas Redd, CEO Pyrolyx USA, explained, "The support that Pyrolyx received from the local community in Indiana was remarkable. We are excited to begin construction on the facility and look forward to a successful roll-out of our world-class products in the USA."
Timothy Hoover, Managing Director at Piper Jaffray & Co, said, "We were pleased to market and underwrite this bond financing and are proud to be associated with Pyrolyx. We look forward to the rapid development of Pyrolyx in the USA."
Pyrolyx AG is the world leader in the extraction of rCB (recovered carbon black) from end-of-life tires. Conditioned rCB is used to manufacture new tires, as well as in the plastic, technical rubber, and in the masterbatch industries. Pyrolyx AG operates an ultramodern rCB plant in Germany and will shortly start building another production plant in Terre Haute, Indiana.
Shares in the company (FRA: WKN A2E4L4) are listed on the stock exchanges in Frankfurt and Düsseldorf, as well as on m:access (Munich Stock Exchange) and the ASX (Australian Securities Exchange) under the ticker PLX (ASX: PLX) and also traded on the electronic trading system, Xetra.
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