Pyrolyx AG Completes Merger with cct Stegelitz GmbH and Expands

MUNICH--()--The Munich-based Pyrolyx AG has today completed its merger with cct Stegelitz GmbH. cct will be integrated into the Pyrolyx Group, which as a result, will become the world's largest manufacturer of rCB (recovered carbon black). Pyrolyx will invest in cct's production site in Saxony-Anhalt and substantially increase its production capacity. Dr. Philipp Theden, hitherto the CEO of cct AG, has joined the Management Board of Pyrolyx AG.

rCB is obtained from shredded end-of-life tires and used to make new tires as well as other rubber and plastic items. The Pyrolyx Group's patented process, which will now be implemented on an industrial scale in Stegelitz, parallel to cct's own process, creates a sustainable closed recycling loop for the tire and technical rubber industries.

Niels Raeder, CEO of Pyrolyx AG, said: "By taking over cct Stegelitz GmbH and building a commercial Pyrolyx production plant, we are forging a corporation specializing in end-of-life tire recycling and the production of rCB which is unique. Our manufacturing process significantly cuts CO2 emissions compared to conventional carbon black production. The merger of the two companies will result in a group whose cutting-edge technology and employees' expertise will contribute to climate protection."

Bernhard von Reiche, Chairman of the Supervisory Board of cct AG, declared: "For us, the merger is a logical decision because the core competencies of both companies complement each other superbly. The integration of cct into the Pyrolyx Group will ensure the technological and financial conditions required for international expansion and the swifter growth of production capacity. We are very pleased that this integration will create a good basis for the successful global implementation of this ecologically precious process."

About Pyrolyx

The Pyrolyx Group is the world leader in the extraction of rCB (recovered carbon black) from end-of-life tires. Conditioned rCB is incorporated in the manufacture of new tires as well as plastic and rubber items.

This green technology enables the Pyrolyx Group to reduce the increasing global problem of end-of-life tires. The Pyrolyx process results in a substantially lower carbon footprint - compared to conventionally produced carbon black: Pyrolyx technology reduces CO2 emissions by up to 2.5 tonnes per tonne of CB. In short, the Pyrolyx process creates a sustainable closed recycling loop for the tire industry. The by-products from rCB production are recycled into the process as fuel or employed in the manufacture of other items.

In 2015, Pyrolyx AG acquired cct Stegelitz GmbH and is currently increasing production capacity at its site in Saxony-Anhalt (Germany), where cct has been producing rCB using a batch process since 2012. The acquisition of cct positions the Pyrolyx Group to be the only company in the world offering both continuous and batch production, thereby serving all addressable carbon black markets. Production in Stegelitz is ISO 9001:2008 and ISO 14001:2004 certified.

Pyrolyx owns the intellectual property rights to Pyrolyx environmental technology and has various patents concerning the industrial production of carbon black.

Pyrolyx AG is quoted on the Düsseldorf Stock Exchange (WKN A0MFXR).

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