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The Problem
Why Pyrolysis
Technology
Sustainability
Waste Partners
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Pilgrim Advantage
Pipeline
Team
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Contact

CIRCULAR
INFRASTRUCTURE
FOR EUROPE'S
WASTE PROBLEM

We identify, de-risk, and scale pyrolysis assets across the EU — converting contaminated mixed plastic waste into marine and petrochemical-grade fuel, recovered carbon black, and grid-ready energy.

Waste Partnership Buy Our Products
// Capacity
100t/day
Flagship asset in Slovakia
// Pipeline
5 Countries
Latvia · Italy · UK · Spain · Cyprus
// Regulation
Tailwind
Tightening EU regulation creates the demand
The Scale of the Crisis
EUROPE HAS A
PLASTIC WASTE
EMERGENCY

Europe generates over 32 million tonnes of plastic waste every year. Less than 30% is recycled. The rest is buried, burned, or shipped out — and every one of those exits is now being legislatively closed, simultaneously, with no credible replacement at scale.

This is not a slow-moving environmental problem. It is a structural industrial crisis arriving on a fixed regulatory timetable — with binding EU deadlines, carbon costs, and export bans that cannot be deferred. The processing capacity Europe needs does not yet exist. The infrastructure gap is real, it is large, and it is growing every year.

32M
Tonnes of plastic waste generated in the EU annually. Less than <30% is mechanically recycled. The rest has no compliant home.
2026
The year plastic waste exports to non-OECD countries are banned. A significant share of Europe's hard-to-recycle plastic previously left the continent — that exit closes permanently.
€250+
Additional carbon cost per tonne of plastic incinerated once EU ETS applies from 2028 — on top of gate fees that already run €60–120/t today.
2030
The year landfilling of recyclable plastic waste is prohibited across the EU. The cheapest disposal route closes permanently.
// Crisis 01 — Waste
Nowhere Left to Put It
Landfill is being legally prohibited. Incineration is becoming economically punitive. Export is banned. Europe is running out of compliant disposal routes, and the first deadlines arrive in November 2026.
// Crisis 02 — Recycling
Mechanical Recycling Has a Ceiling
Mechanical recycling can only process clean, sorted, single-polymer plastic — a fraction of what Europe actually generates. The contaminated majority is structurally incompatible with every conventional recycling process at scale. There is no mechanical solution for most of Europe's plastic waste.
// Crisis 03 — Policy Gap
Targets Without Infrastructure
The EU has set binding recycled content targets, landfill caps, and emissions reduction obligations — but has not yet built the processing infrastructure to meet them. There is a widening gap between what regulation demands and what physical capacity exists. That gap is an industrial and investment opportunity of exceptional scale.
// Crisis 01 — Waste
Nowhere Left to Put It
Landfill is being legally prohibited. Incineration is becoming economically punitive. Export is banned. Europe is running out of compliant disposal routes, and the first deadlines arrive in November 2026.
// Crisis 02 — Recycling
Mechanical Recycling Has a Ceiling
Mechanical recycling can only process clean, sorted, single-polymer plastic — a fraction of what Europe actually generates. The contaminated majority is structurally incompatible with every conventional recycling process at scale. There is no mechanical solution for most of Europe's plastic waste.
// Crisis 03 — Policy Gap
Targets Without Infrastructure
The EU has set binding recycled content targets, landfill caps, and emissions reduction obligations — but has not yet built the processing infrastructure to meet them. There is a widening gap between what regulation demands and what physical capacity exists. That gap is an industrial and investment opportunity of exceptional scale.
// The Environmental Answer
PLASTIC WASTE
PROCESSED AT SCALE
Pyrolysis thermally converts the contaminated, mixed plastic waste that conventional recycling processes cannot touch — the majority of Europe's problem stream — into usable products. Every tonne processed is a tonne diverted from landfill, incineration, or export.
// The Energy Answer
DOMESTIC ENERGY
FROM WASTE
Pyrolysis produces a versatile fuel oil that can power vessels as marine bunker fuel, feed petrochemical plants as a refinery feedstock, or be further refined into transport fuels and chemical precursors. The syngas by-product powers the plant itself — making the facility entirely energy self-sufficient — with surplus capacity available for grid supply. Waste, in other words, becomes a domestic energy source.
The Case for the Technology
WHY
PYROLYSIS,
WHY NOW
Mixed Waste Solution
01
Mechanical recycling requires clean, sorted, single-polymer feedstock — the minority of plastic waste. Pyrolysis processes the rest: contaminated, multi-layer streams that no other scalable technology can handle.
Technology Fit
Waste to Value
02
Because pyrolysis accepts contaminated mixed waste that commissioners cannot sell, the dynamic inverts — waste commissioners pay to deliver feedstock. At sufficient scale, gate fees alone can cover all fixed operating costs.
Gate Fee Model
Economically Viable
03
A single tonne of mixed plastic produces pyrolysis oil, char as a carbon black substitute, and syngas that powers the plant — eliminating grid electricity costs. No other waste technology generates three independently commercialisable outputs from the same stream.
Revenue Diversification
Filling the Gap
04
Landfill is being capped, incineration faces EU ETS carbon costs from 2028, and plastic waste exports are banned from November 2026. Every conventional outlet for hard-to-recycle plastic is being curtailed simultaneously — pyrolysis fills a gap regulation is making permanent.
Regulatory Tailwind
EU-Recognised Chemistry
05
The European Commission's December 2025 Implementing Decision formally recognised chemical recycling under EU legislation, establishing mass-balance accounting rules for recycled content claims — unlocking ISCC Plus certification and longer-term PPWR recycled content premiums.
EU Recognition
Commercially Proven
06
Pyrolysis has operated commercially for decades with known yield profiles. What has changed is the context: regulation has made the feedstock model viable at scale, the marine fuel offtake market is deepening, and certification infrastructure is now in place.
Proven & Timely
This is not a technology bet. It is a structuring and execution bet — on a proven technology, at the right scale, with the right offtake, at the right moment in the regulatory cycle.
Investor Portal →
How It Works
BUILT TO PROCESS
WHAT OTHERS WON'T

Our proprietary reactor design solves the core technical failure mode of conventional pyrolysis when processing contaminated feedstock.

// Pre-Treatment & Process Flow
IN
Mixed Waste Arrives
Contaminated, multi-polymer, unsorted
01
Crusher
Reduces to 0–300mm fraction
02
Magnetic Separator
Ferrous metal removal
03
Industrial Shredder
Further reduction to 0–50mm
04
Proprietary Reactor
Validated technology on contaminated feedstock
OUT
Three Revenue Streams
Oil · Char · Syngas
// Output Yields
70%
Pyrolysis Oil
Sold into two markets — marine bunker fuel and petrochemical plants. Committed full-volume buyer relationship in place pre-commissioning.
7.5%
Char
Recovered carbon black substitute for paints, coatings, chemical formulations, and fuel briquettes. Growing industrial end-market.
22.5%
Syngas
Recirculated via on-site generator. Eliminates grid electricity from Year 1. Surplus grid export represents unmodelled long-term upside.
// No sorting. No washing. No polymer separation required.
The reactor's specialised metallurgy and thermal management prevent corrosive compounds from contaminated feedstock from degrading the vessel — converting what is a technical liability for the rest of the industry into a structural commercial advantage for Pilgrim.
Environmental & Regulatory
REGULATION IS
DOING OUR
COMMERCIAL WORK

Every major EU environmental directive simultaneously creates structural demand for this facility's capacity — without Pilgrim needing to compete for it.

Plastic Out of Landfill
Every tonne processed avoids both the landfill methane pathway and incineration emissions. Municipal waste incineration currently produces approximately 1.11 tonnes of CO₂ per tonne burned. Pyrolysis diverts both pathways.
Energy Self-Sufficient
Syngas recirculation powers the entire plant with no grid electricity draw. The facility is energy self-sufficient from commissioning. Surplus syngas capacity may qualify for grid export under RED III from Year 2+.
🛢
Versatile Fuel Output
Our oil is sold into two markets — marine bunker fuel and petrochemical plants. Once ISCC Plus certified, both buyer types unlock compliance value: vessel operators reduce EU-ETS and FuelEU Maritime obligations, while petrochemical buyers can claim recycled content credits under PPWR.
// Pyrolysis vs. Incineration, Landfill & Export
Significantly lower CO₂ than incineration — and none of the toxic ash residue that requires specialist disposal.
No landfill methane. Pyrolysis eliminates the slow decomposition pathway that generates greenhouse gases over decades.
No exporting the problem. Pyrolysis processes material where it is generated — not transferred to lower-regulation jurisdictions.
Waste becomes a resource. Every tonne processed produces usable oil, carbon black substitute, and on-site energy — not emissions and residue.
// Pyrolysis vs. Other Chemical Recycling
vs. Gasification. Operates at higher temperatures with partial oxidation, producing syngas rather than liquid fuel — suited to energy generation, not liquid fuel or petrochemical offtake markets.
vs. Solvolysis. Polymer-specific — primarily effective on polyesters like PET. Cannot handle mixed or contaminated feedstock at scale.
vs. Dissolution. Requires chemical solvents, generates hazardous waste, and remains pre-commercial at scale.
Pyrolysis is the only process operating at commercial scale on mixed contaminated feedstock — and the only one formally EU-recognised.
// EU Regulatory Alignment
Gate Fees
Waste Shipment Regulation — EU 2024/1157
All EU plastic waste exports to non-OECD countries banned from November 2026. 35M tonnes previously exported annually must now be processed domestically.
Export ban
Nov 2026
Gate Fees
EU ETS — Incineration Inclusion
Carbon costs added to plastic incineration from 2028, on top of existing gate fees. Every step-up in incineration cost increases the economic advantage of Pilgrim's gate-fee arrangement.
Inclusion
from 2028
Gate Fees
EU Landfill Directive — 1999/31/EC
Bans landfilling of recyclable waste from 2030. Caps municipal waste to landfill at 10% by 2035. The cheapest disposal route is being legally closed.
Ban 2030
10% cap 2035
Oil Offtake
FuelEU Maritime — Regulation 2023/1805
Vessel operators must reduce GHG intensity of onboard energy. Our oil qualifies as an RCF. ISCC Plus certification is the near-term milestone that unlocks compliance value for buyers.
In force
2025–2050
Oil Offtake
EU ETS — Shipping Extension
Extended to maritime from 2024, reaching 100% surrender from 2027. Significantly increases the all-in cost of fossil marine fuel on EU routes, widening the commercial advantage of our oil.
100% from
2027
Gate Fees
EU Plastics Levy — Non-Recycled Packaging
A levy of €0.80/kg on non-recycled plastic packaging — rising to €1.00/kg from 2028 — creates a direct financial incentive for EPR-obligated producers to divert plastic to a licensed recycler rather than pay the levy. Gate-fee demand rises with every step-up in levy rate.
In force
rising 2028
Gate Fees
Extended Producer Responsibility — Directive 2019/904
Brand owners and producers are financially responsible for the end-of-life management of their plastic packaging. As EPR schemes tighten across EU member states, obligated parties increasingly need documented, licensed disposal routes — exactly what a gate-fee arrangement with Pilgrim provides.
Tightening
across EU
Oil Offtake
PPWR — Packaging & Packaging Waste Regulation
Mandates minimum recycled content in plastic packaging from 2030. Petrochemical buyers using our oil as feedstock can produce plastics that qualify for recycled content credits — creating direct demand for our output as ISCC Plus certification matures and mass-balance accounting becomes standard.
Mandates
from 2030
Operations
EU Industrial Emissions Directive — 2010/75/EU
Pyrolysis plants with sufficient syngas purification are exempt from the stricter waste incineration chapter of the IED. Our gas filtration system satisfies this threshold.
In force
now
For Waste Commissioners
WE TAKE WHAT
OTHERS WON'T

Contaminated, mixed, hard-to-recycle plastic. The material mechanical recyclers reject — and that most pyrolysis operators won't touch either. As disposal alternatives become too expensive or too regulated to absorb, we remain the exception.

// What We Accept
Mixed Plastic Waste
Multi-polymer streams, no separation required before delivery
Contaminated Material
PVC, halogens, moisture — our reactor was engineered specifically for this
Multi-Layer Packaging
The material most competitors are structurally unable to process
Hard-to-Recycle Streams
Rejected by mechanical recycling due to contamination or complexity — not a barrier for our reactor
// The Problem We Solve
If you don't know what to do with it — we do.
Waste commissioners across Europe are sitting on growing volumes of mixed plastic they cannot sort, cannot sell, cannot export, and cannot legally landfill. The alternatives — incineration, storage, fines for non-compliance — are becoming increasingly costly. A gate-fee arrangement with Pilgrim converts that liability into a documented, licensed, compliant disposal route.
// Your Disposal Alternatives
Landfill Costs rising ↑ Capped 2030
Incineration Costs rising sharply ↑ ETS 2028
Export to non-OECD Banned Nov 2026
Pilgrim Green Gate fee arrangement Available Now

Our flagship facility operates in Slovakia, at the centre of the Central European logistics corridor with practical feedstock access spanning Slovakia, Czech Republic, Austria, and Hungary. Expansion across the EU is actively underway.

Discuss a Gate-Fee Arrangement →
For Product Buyers
VERIFIED OUTPUT.
FULL VOLUME.
FROM DAY ONE.

Every batch independently lab-tested before dispatch. Committed full-volume offtake structure across two end markets — marine bunker fuel and petrochemical feedstock.

Pyrolysis Oil
Marine & Petrochemical Fuel
Marine bunker fuel and petrochemical feedstock
Marine standard ISO 8217:2024
Petrochemical pathway Refinery feedstock
Output yield 70% of input mass
QA protocol Independent per batch
Offtake structure Full-volume, committed buyer
Availability From commissioning (Month 1)
↗ ISCC Plus Certification — Marine & Chemical Recycling Pathways
Once certified, marine buyers receive a Proof of Sustainability certificate per delivery, enabling EU-ETS compliance benefit and FuelEU Maritime GHG intensity credit. For petrochemical buyers, ISCC Plus unlocks mass-balance recycled content claims under PPWR. Certification is a near-term operational milestone.
Char
Recovered Carbon Black
Industrial-grade substitute — diversified end-market demand
Output yield 7.5% of input mass
Year 1 volume ~1,450 t/year
Steady-state volume ~2,230 t/year
Applications Paints · Coatings · Briquettes
Market growth 11.1% CAGR to 2035
Availability From commissioning
The recovered carbon black market is growing at 11.1% CAGR and is projected to reach $7.4 billion by 2035, driven by sustainability mandates and carbon black supply constraints. Our char is priced conservatively as a reliable industrial supply source.
Inquire About Offtake →
Who We Are
THE PILGRIM
ADVANTAGE

Pilgrim is a specialist private capital sponsor filling one precise gap: between a working reactor and a profitable circular infrastructure operation.

01
Inverted Feedstock Model
Waste commissioners pay us to accept their material. Feedstock is a revenue line, not a cost. No inbound logistics cost. No supply risk.
02
Marine Fuel & Petrochemical Offtake
Our oil is sold into two markets — marine bunker fuel and petrochemical plants — giving the platform offtake diversification and pricing flexibility from day one.
03
Energy Self-Sufficient
Syngas by-product powers the plant. Grid electricity is eliminated from operations. Energy cost is zero at steady state.
04
Regulation Creates Demand
Landfill bans, export prohibitions, rising incineration costs — every major EU environmental directive pushes waste into this facility. We don't compete for policy support; we receive it structurally.
05
Clean Capital Structure
Pure equity — no bank debt, no interest burden, no lender covenants. Over 90% of capital deployed is in equipment, with no refinancing risk at any stage.
// The Gap We Fill
Europe doesn't have a shortage of pyrolysis reactors. It has a shortage of the capital, expertise, and commercial structure needed to turn them into profitable operations.
// Our Playbook
Source a stranded asset. Lock in gate-fee and offtake agreements before capital is deployed, then commission, stabilise, scale, and replicate.
// The Asset
Reactor one is built and commissioning — first oil production is imminent, making Slovakia the first facility in our network to validate pyrolysis at commercial scale and unlock the immediate five-country pipeline waiting behind it.
// What Comes Next
Partners in Latvia, Italy, UK, Spain, and Cyprus are each awaiting the Slovakia facility reaching commercial operating rate. These five are the immediate pipeline with the broader EU-wide ambition.
// Why This Matters
Pyrolysis capacity is not the bottleneck — structured, commercially viable operations are. Pilgrim is building the infrastructure layer that makes reactors work at scale across the EU.
Expansion Pipeline
SLOVAKIA OPENS
FIVE DOORS

Each of our pipeline counterparties has independently validated the pyrolysis model in their jurisdiction. They are waiting for the Slovakia commissioning as proof-of-concept — not to be convinced of the concept.

🇸🇰
Slovakia
Flagship asset. Two reactors funded. The operational foundation for the entire platform.
Flagship — Active
🇱🇻
Latvia
Operating permits already secured. Awaiting Slovakia commissioning milestone.
Permits Secured
🇮🇹
Italy
Advanced-stage negotiations with local partners. Strong EPR and PPWR alignment.
Advanced Discussions
🇬🇧
United Kingdom
Advanced discussions underway. Strong circular economy framework and gate-fee economics.
Advanced Discussions
🇪🇸
Spain
Active discussions. Significant volumes of hard-to-recycle plastic waste and rising EPR pressure.
Discussions Ongoing
🇨🇾
Cyprus
Initial discussions commenced. Strategically positioned as a Mediterranean hub.
Early Stage
The People
TEAM &
PARTNERS

Our core team combines financial structuring expertise with deep pyrolysis engineering experience — accumulated across multiple plant builds and commercial deployments in EU.

Co-Founder · Financial Partner
Roman Golnikov
Leads capital structuring, investor relations, and commercial strategy for the Pilgrim platform. Responsible for financial modelling, deal origination, and the coordination of expansion across EU jurisdictions.
Co-Founder · Head Engineer
Head Engineer
Develops and manufactures thermal waste destruction complexes. Leads all technical planning, engineering oversight, and operational management of the pyrolysis plants across the platform.
Co-Founders · Technology Partner
Ecolat
The engineering team behind the reactor system, with full-cycle operational experience across prior pyrolysis installations validated on contaminated mixed feedstock under real operating conditions.
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Get In Touch
CONTACT
Waste Partnership Inquiries
Gate-fee arrangements, feedstock specifications, transport logistics, catchment area.
infro@pilgrim-fund.com
Oil & Char Offtake
Offtake terms, product specifications, lab test results, ISCC Plus timeline, char availability.
infro@pilgrim-fund.com
Investor Relations
Portal access requests, due diligence queries, pipeline briefings, press and media.
infro@pilgrim-fund.com
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