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BASF will acquire an ownership stake in Pyrum, a German firm developing pyrolysis technology for converting waste tires into oil, for $18 million. BASF’s investment will help Pyrum expand its plant in Dillingen, Germany, which has capacity to process up to 10,000 tires annually. BASF recently said it will buy tire-pyrolysis oil from the Hungarian firm New Energy. In both cases, the German chemical maker will use the oil to replace petroleum feedstock in its petrochemical crackers.
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