PureCycle . ORLANDO, Fla., Nov. 9, 2022 /PRNewswire/ -- PureCycle Technologies, Inc. ("PureCycle" or "the Company") (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today announced a corporate update and financial results for the third quarter ending September 30, 2022. By continuing to browse this site you agree to our use of cookies. All subsequent written and oral forward-looking statements or other matters attributable to PCT or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this press release. PureCycle Technologies Provides Second Quarter 2022 Update, PureCycle, EXPLR Media Launch Back to School Initiative with Orange County Students, PureCycle Announces Key Leadership Changes, New Chief Executive Officer, Jacksonville Jaguars, PureCycle Team Up to Help Stop Over Half a Million Pieces of Plastic from Entering Our Environment, PureCycle Welcomes New Member to Board of Directors, PureCycle Process Expected to Use Less Energy, Lower Carbon Emissions than New Plastic Production, PureCycle Technologies Provides First Quarter 2022 Update, PureCycle Technologies Schedules First Quarter 2022 Corporate Update Conference Call for Thursday, May 12, 2022, at 11:00 a.m. The markets continuing interest in PureCycles UPR resin is demonstrated through the full off-take allocation of the Ironton, Ohio facility and the demonstrated acceptance of its Feedstock+ pricing model being implemented at Augusta. All Rights Reserved. To support advancement of the commercial project, the Mortenson team instituted proven processes to streamline communication amongst the team and established project management controls. Prior to LyondellBasell, Larry was with Hyatt Hotels Corporation where he held both the Senior Vice President, Real Estate and Capital Strategy and Senior Vice President and Treasurer positions during his tenure. "PureCycle continued to build on its operational momentum during the second quarter of 2022 and execute against its strategic growth plan," says Dustin Olson, PureCycle CEO. Ironton, Ohio at PureCycle Technologies . The forward-looking statements are based on the current expectations of the management of PureCycle and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. PureCycle continues to execute its East Coast Prep strategy to supply feedstock for its Augusta purification operations and has adjusted the start-up timelines at the three locations to be aligned with our revised purification facility timeline. This process fully closes the loop on the reuse of recycled plastics while making recycled polypropylene more accessible at scale to companies desiring to use a sustainable, recycled resin. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. What are the Future Prospects of the Green Hydrogen Market? Larry Somma has nearly three decades of experience in the corporate finance sector at world-class publicly traded companies within the plastics, manufacturing, hospitality, and consumer goods industries. She holds a Bachelor of Science in Communications from Texas A&M University. At this stage, PureCycle has several options that are being evaluated that gives us confidence that the Company will raise the necessary capital to fund Phase 1 of our multi-line development in Augusta and three East Coast PreP facilities. -PureCycle's flagship purification facility in Ironton, Ohio, ("Ironton") targeting mechanical completion and pellet production in the first quarter of 2023. Jul. PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as No. These risks and uncertainties include, but are not limited to, those factors described in the section of PureCycle's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 entitled "Risk Factors," those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (the "SEC") by PureCycle and the. 1125 County Road 1A, Ironton. All rights reserved. We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. Jeff Kramer, PureCycle's Ironton plant manager, left, receives an award on behalf of the company from Katie Farber, vice president of Ohio Southeast, part of Jobs Ohio. PureCycle is listed on the Nasdaq capital market under the ticker symbol PCT. PureCycles flagship purification facility in Ironton, Ohio, remains on schedule targeting mechanical completion in early fourth quarter 2022 and expected pellet production PureCycles flagship purification facility in Ironton, Ohio, remains on schedule targeting mechanical completion in early fourth quarter 2022 and expected pellet production by year-end Constructionis underway for PureCycles second purification facility, the first multi-line purification facility in Augusta, Georgia, with Phase 1 (260 million pounds capacity) on track for startup in fourth quarter of 2023.Commercial pipeline progressing with the Augusta purification facility (lines 1 & 2) currently 70% allocated through multi-year commitments. PureCycle converts polypropylene plastic waste (designated as No.5 plastic) into like-new plastic. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. If you multiply these factors, you get to a familiar number: (7,884 hours per year) x (15,144 lbs per hour) x (90% yield) = ~107 million pounds per year. The Company is building its first commercial-scale plant in Ironton, Ohio, which is expected to have nameplate capacity of approximately 107 million pounds per year when fully operational. She has over 32 years of experience in the areas of recycling and plastics recycling, including implementing a recycling collection program, running the recycling operations for a manufacturing recycling facility, purchasing raw materials, and selling recycled resins for plastic recycling companies. 5950 Hazeltine National Dr Ste 650, Orlando, Florida, 32822, United States . With the company's flagship recycling plant in Ironton, Ohio expected to start pellet production in Q1 of 2023; a second plant in Augusta, Georgia under initial construction; and its first PP recycling plant in Asia currently on track to open in 2025, PureCycle is expanding globally and actively scaling its production capabilities. PureCycles current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. PureCycle Technologies Inc., Orlando, Florida, has released a corporate update on operations and company expansions for the second quarter ending June 30. The unique purification process removes color, odor, and other impurities from No. NextGen District is a global hub for businesses seeking to advance the circular economy. Suite 300, This project represents one of the largest investments announced in the NextGen District to date. ORLANDO, Fla., Jan. 17, 2023 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) and the Port of Antwerp-Bruges today announced that PureCycle intends to build its first polypropylene (PP) recycling facility in Europe in the port's fast-growing NextGen District located in Belgium. It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. Various funding options are currently being considered, including traditional financing sources as well as grants/subsidies for circular projects that are uniquely available in the EU. The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. PureCycle Technologies Ironton, OH. Search job openings, see if they fit - company salaries, reviews, and more posted by PureCycle Technologies employees. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. With the company's flagship recycling plant in Ironton, Ohio expected to start pellet production in Q1 of 2023; a second plant in Augusta, Georgia under initial construction; and its first PP recycling plant in Asia currently on track to open in 2025, PureCycle is expanding globally and actively scaling its production capabilities. ORLANDO, Fla., March 18, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) announced that it has completed its previously announced . PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. We are discussing the financing timeline with the Development Authority of Augusta, Georgia ("AEDA"). NAICS Code 32,325. PureCycle Technologies' shares are trading at $6.30 per piece at the time of this writing, giving it a market cap of $1.11 billion. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. Ahead of The Greener Manufacturing Show in Cologne on the 9th and 10th of November 2022, AZoCleanTech spoke with Peter Sarno, event director of the show, about the push for sustainable industrial solutions. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and . PureCycle remains steadfast in its mission to advance the sustainable plastic revolution on a global basis through its unique purification process. . A Florida company is setting up shop in Lawrence County, Ohio, investing $360million in a plastics recycling facility. During the first quarter, PureCycle broke ground on its first multi-line purification facility in Augusta, Georgia, in-line with the Companys previously stated timeline. Claim this business. Polypropylene recycler PureCycle Technologies is in the process of building out its key locations and is not yet earning revenue. The PureCycle process helps create an opportunity to fully close the loop in the creation of recycled polypropylene ("PP") which, while being one of the highest volume, most versatile and robust plastics, has an extremely low reclamation rate across the globe. PureCycle, Port of Antwerp-Bruges Announce NextGen District as Location For PureCycles First Plastic Recycling Plant in Europe, KraussMaffei Delivers Final Extruder for PureCycle's Flagship Purification Plant Ahead of Schedule, Viscosity Modification of PureFive HPP15S Using Millikens DeltaFlow, Orlando Magic Advance Sustainability Efforts with PureCycle's PureZero Program. "Worlds-first", "global impact", "game changing", are words that have been used to describe the PureCycle Technology project. According to company press release, the Ironton, Ohio manufacturing plant remains on schedule and is expected to be completed in fourth quarter of 2022. psalm 23:4 tattoo back. A second plant in Augusta, Georgia is under initial construction, and its first PP recycling plant in Asia is on track to open in 2025. Feedstock and Commercial UpdatePureCycle has continued to advance the feedstock procurement pipeline, with approximately 301 million pounds of polypropylene waste under Letter of Intent (LOI), to fully supply the first two lines of the Company's Augusta's purification facility. Skip to Content. Mr. Kalter holds a J.D. PureCycle's flagship purification facility in Ironton, Ohio, remains on schedule targeting mechanical completion in early fourth quarter 2022 and expected pellet production by year-end 2022.; Construction is underway for PureCycle's second purification facility, the first multi-line purification facility in Augusta, Georgia, with Phase 1 (260 million pounds capacity) on track for startup in . On October 20, 2022, PureCycle and SK geo centric entered into a JVA that outlines the terms of its 50/50 partnership in developing and operating a polypropylene purification facility with an annual nameplate capacity of 130 million pounds in Ulsan, South Korea. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Owned and operated by AZoNetwork, 2000-2023, Testing the Potential of Space-Based Solar Power, Transforming Stranded Mines into Batteries, Quantifying Exxons Decades-old Climate Science Knowledge, Climate Change Could Spell Disaster for Worlds Oceans, Safe, Fast-Charging Battery Overcomes Previous Limitations, Monitoring Natural Gas Quality with the Sensi+, ABB Measurement & Analytics - Analytical Measurement Products, The Environmental Benefits of Solid-State Batteries, How Raw Material Cost Increases are Challenging Electric Vehicle Production, The Biggest Clean Technology Developments in 2022. . Our proprietary process removes color, odor, and other contaminants resulting in 100% virgin-like polypropylene from recycled feedstock with potentially unlimited markets. Ms. Ettefagh has been an avid public speaker at conferences, symposiums, and in webinars for the past 25 years, and served on several Boards, including the Sustainable Packaging Coalition from 2019 to 2020. 9 Best Places to Work by Plastics News, PureCycle Breaks Ground on New Recycling Facility in Augusta, Georgia, PureCycle Adds Top Industry Leaders to Board of Directors, Koch Modular Process Systems to Supply PureCycle Augusta Facility with Modular Recycling System. The firm also has a deal with SK Geo Centric to bring its solvent . The conference call will have a live Q&A session and be available for replay hereand on the Company's website at www.purecycle.com. More info. The facility, which is being built as part of Procter & Gamble . In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. IRONTON PureCycle Technologies LLC, in collaboration with Jobs Ohio, Ohio Southeast Economic Development and Southern Ohio Port Authority, announced Monday plans to invest $363 million in the . (740) 532-9096. Third Quarter 2022 Conference Call Details. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. As previously referenced, market conditions remain challenging and have created uncertainty as to the timing of the currently anticipated project financing for the Augusta Facility. (740) 532-9096. Larry Somma has nearly three decades of experience in the corporate finance sector at world-class publicly traded companies within the plastics, manufacturing, hospitality, and consumer goods industries. Lastly, in partnership with Milliken & Co, we announced the first fully sustainable, odorless concentrate for the recycled PP resin marketplace. The Second-Life Battery Market: Newest Developments and Opportunities, Radiation Measurements on the North Slope of Alaska, Anthropogenic Emissions of Gases in Urban Areas, The Importance of Meteorological Parameters on Photovoltaic Output. The forward-looking statements are based on the current expectations of the management of PCT and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. No products in the cart. Dustin Olson, PureCycle's Chief Executive Officer, said, "The . The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led . These risks and uncertainties include, but are not limited to, those factors described in the section of PureCycle's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 entitled "Risk Factors," those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (the "SEC") by PureCycle and the following: Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of PureCycle prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. There can be no assurance that future developments will be those that have been anticipated. The PureCycle Technologies Feedstock Evaluation Unit construction is under way! PureCycle Technologies Provides Third Quarter 2022 Update . PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 PureCycle Technologies continues to expand its global reach. 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