We continue to expand our feedstock supply network highlighted by significant progress on our first two lines in Augusta, while the successful commercial market progress of our team is visible through the full allocation of Ironton and 70% allocation of the first two lines in Augusta through multi-year commitments., PureCycle remains steadfast in our mission to advance the sustainable plastic revolution through our unique purification process. PureCycle had $233.3 million in debt and accrued interest, less $16.3 million of discount and issuance costs as of September 30, 2022. PureCycle is nearing startup of the company's first plant in Ironton, Ohio, and has plans for a second facility in Augusta, Ga. The investment is a part of PureCycle's strategic expansion into the United States to . Plastic supports our everyday life in countless ways and we often underestimate the important role it, 5950 Hazeltine National Drive -Financing to fund Augusta's first two purification lines and three East Coast preprocessing ("PreP") facilities targeted for completion by year-end with PureCycle evaluating scenarios with the objective of maintaining optionality in its capital structure as it moves to operational revenue in 2023. Our team at PureCycle looks forward to creating a more sustainable future together. Independent Construction Monitoring Reports, PureCycle Named No. To date, PureCycle has established strategic partnerships and supply contracts across the plastics value chain including, but not limited to, resin producers, converters, and consumer facing brands. PureCycle Technologies LLC has announced that it is investing $363 million to construct a factory in Ironton to recycle over 100 million pounds of polypropylene plastic annually . PureCycle Ohio1125 County Road 1AIronton, OH 45638, 12:00 - 3:00 PM ESTLunch & entertainment will be provided, JW Marriot, Grand Lakes4040 Central Florida PkwyOrlando, FL 32837, 6:00 - 9:00 PM ESTDinner & entertainment will be provided. The facility, which is being built as part of Procter & Gamble . -Received FDA prenotification letter confirming that, ORLANDOAugust 10, 2022PureCycle Technologies, Inc. (Nasdaq: PCT) and EXPLR Media are teaming up once again to spark ECO- and STEM- enthusiasm in children to start reimagining new solutions to todays, Dustin Olson will serve as the Companys second CEO ORLANDO, Fla. June 30, 2022 Today, PureCycle Technologies, Inc. (NASDAQ: PCT) announced three key leadership changes effective August 5, 2022,, JACKSONVILLE Jun. Feedstock discussions remain on track with 75% of lines 1 & 2 under letters of intent (LOIs).PureCycle added top industry leaders to its Board of Directors with the appointments of Steven Bouck and Allen Jacoby as independent directors, effective March 15, 2022. IRONTON PureCycle . 5 plastic) into a continuously renewable resource. Dustin Olson reiterated this number in the Q1 earnings call. 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. 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. Continue Reading. From October 2015 to February 2019, Mr. Kalter served as Executive Vice President, General Counsel and Corporate Secretary of Exide Technologies (Exide), a battery manufacturing and energy storage business, overseeing global legal from 2015 to February 2019. For Businesses; Free Company Listing; Premium Business Listings . This process fully closes the loop on the reuse of recycled . Liquidity and Capital ResourcesAs of September 30, 2022, PureCycle had total liquidity of $416.1 million including $215.0 million of cash, cash equivalents and debt securities available for sale and $201.1 million in restricted cash. . Except to the extent required by applicable law or regulation, PureCycle undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. The advanced recycling company and the Port of Antwerp-Bruges jointly announced today plans to build PureCycle's first polypropylene (PP) recycling facility in Europe at the port's fast-growing NextGen District in Belgium. Export and investment promotion agency Flanders Investment & Trade played a leading role in this investment dossier through teams in the US and in Flanders. ORLANDO, Fla. 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.The new plant is expected to have an annual capacity of 59,000 metric tons (130 million pounds), with opportunities to expand . The Company had total liquidity of $609.9 million including $418.0 million of cash, cash equivalents and debt securities available for sale and $191.9 million in restricted cash. Search job openings, see if they fit - company salaries, reviews, and more posted by PureCycle Technologies employees. PureCycle Technologies process offers the only recycled polypropylene with properties equal to virgin polymer. 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. Mike Otworth, PureCycles Chairman and Chief Executive Officer, said, PureCycle made considerable operational progress during the first quarter of 2022 and continues to execute against its strategic growth plan. 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. (740) 532-9096. in Political Science and Communications from the University of Pennsylvania. According to company press release, the Ironton, Ohio manufacturing plant remains on schedule and is expected to be completed in fourth quarter of 2022. Ohio (the "Ironton . PureCycles ground-breaking, patented recycling process, developed and licensed by Procter & Gamble (P&G) and commercialized by PureCycle, separates color, odor and other contaminants from plastic waste feedstock to transform it into Ultra-Pure Recycled (UPR) resin with virgin-like properties. Suite 300, She holds a Bachelor of Science in Communications from Texas A&M University. Currently, all our construction modules are set, and we anticipate reaching mechanical completion and pellet production in the first quarter of 2023. 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. 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. Most recently, Somma spent eight years at LyondellBasell Industries N.V., where he served as vice president of finance strategy and transformation for two years and vice president, corporate treasurer for six years. Our commercial team continued to sign offtake agreements for Augusta lines 1 and 2 with Ironton fully committed and the first two lines in Augusta overcommitted at 111% through multi-year agreements. Mortenson also completed alternative site reviews and guided PureCycle through developing a strategic approach to maximize both state and local incentives to overcome challenges with available utilities, in turn making the preselected site feasible. All rights reserved. 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. PureCycle Technologies Provides Third Quarter 2022 Update . Employer Identification No.) (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. 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 . 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. Suite 300, 27IRONTON PureCycle Technologies LLC (PureCycle), in collaboration with JobsOhio, Ohio Southeast Economic Development (OhioSE), and Southern Ohio Port Authority, announced Monday plans to invest $363 million in the construction of a plant in Lawrence County, Ohio that will recycle polypropylene. from Emory University and a B.A. 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 . 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. Headquarters. Our objective remains raising the necessary capital to fund our growth and help bridge us to our goal of delivering Ironton operational revenue in 2023. There can be no assurance that future developments will be those that have been anticipated. Orlando, FL 32822. Using our ground-breaking patented recycling process, developed by Procter and Gamble, we separate color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled resin., PureCycle Technologies breaks ground on polypropylene recycling facility in Ohio, 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. www.purecycle.com, Investor Relations Contact:Charles Placecplace@purecycle.com689.233.3595, Media Contact:Adrianna Sekulaasekula@purecycle.com407.697.1201, View original content to download multimedia:https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html. Olson holds a Bachelor of Science in Chemical Engineering from the University of Missouri-Rolla, a Master of Chemical Engineering from the University of Houston, and a Master of Business Administration from Rice University. 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 . The Ironton purification facility will have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled ("UPR") resin. The Company responded, disputing the claims or the party's right to terminate the agreement. The company reported significant progress in its strategic plan. 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 . We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. ", Larry Somma, PureCycle's Chief Financial Officer, added, "We have experienced a more challenging financing market than originally anticipated when initiating our fund raising efforts in June. The Company continues to work with the AEDA, and we are currently pursuing various structures for financing of our Augusta Facility in addition to the previously announced project financing. Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. The Vocus CI-TOF from TOFWERK provides real-time chemical ionization measurements. Our Augusta purification facility build-out is underway and remains on track for startup in the fourth quarter of 2023. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and . PureCycle Technologies LLC, dba PureCycle, holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter . 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. In addition, 98% of the PreP equipment is now on site and the Company plans a preprocessing soft start in the third quarter of 2022. 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 company's flagship recycling plant in Ironton, OH, is expected to start pellet production in Q1 of 2023, and a second plant in Augusta, GA, is under construction. PureCycle Technologies, Inc. (Orlando, Fla.) 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. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. PureCycle Technologies continues to expand its global reach. More. PureCycle Technologies' process offers the only recycled polypropylene with properties equal to virgin polymer. More info. 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. Port of Antwerp-Bruges Contact press@portofantwerpbruges.com +32 492 15 41 39. . 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. PureCycle's Ironton, OH Facility is on Track to Start Producing Pellets Q1 2023 ORLANDO, Fla., Dec. 19, 2022 . Company Contact:Anna Farrarafarrar@purecycle.com(954) 647-7059, Investor Relations Contact:Georg VenturatosGateway Investor RelationsPCT@GatewayIR.com(949) 574-3860, Using our ground-breaking patented recycling process, developed by Procter and Gamble, we separate color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled resin., PureCycle Technologies Provides First Quarter 2022 Update, 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. 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. The port provides, directly and indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros. PureCycles mission to transform the worlds polypropylene recycling industry builds upon Olsons solid leadership principles as he works to reimagine the day-to-day business environment. PureCycle Technologies is renovating three buildings on 23 acres near Ironton . Olson and his wife, Amanda, have three children and currently live in Orlando, Florida. The team also completed an independent cost review during the development phase of the project and worked closely with project partners to assist in driving down costs, ultimatelyshaving over 20% off of the GMP. Mr. Kalter served as General Counsel, Chief Legal Officer and Secretary of United Insurance Holdings Corp., a property and casualty insurance holding company, from February 2019 to January 2021. PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 Company Contact PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 Toll-Free: 877-648-3565 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. Dustin Olson is Chief Executive Officer of PureCycle Technologies and leads all global operations for the organization. Based on the current expectation that funding for the project will be in place by year-end, we now anticipate mechanical completion, startup, and full commissioning of Augusta lines 1 and 2 to be in the second half of 2024. Forward-Looking StatementsThis press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. By combining alternative waste streams and utilizing the Companys Born Digital strategy, PureCycle aims to develop resins with targeted specifications, broadening the end case use for PureCycles UPR resin. Following on from the Contamination & Geotech Expo, AZoCleantech speaks withBarnaby Hayward fromP&D Marine Services about his involvement in the clean technology sector andthe companys innovative water management solution - the Jellyfishbot. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. 2023 PureCycle Technologies. "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. PureCycle remains steadfast in its mission to advance the sustainable plastic revolution on a global basis through its unique purification process. PureCycle . 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. Dec. 21IRONTON PureCycle: Ohio LLC received the Ohio Southeast Economic Development (OhioSE) Best Project of 2020 Award during their Annual Meeting held virtually in May of this year. We use cookies to enhance your experience. 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. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. CHICAGO, March 13, 2019 PureCycle Technologies, is announcing it has partnered with global industrial manufacturer, Milliken & Company, and the world's largest food and beverage company, Nestl S.A., as. There can be no assurance that future developments will be those that have been anticipated. The first phase of the program involved building a Feed Stock Evaluation Unit that successfully demonstrated the process in 2019 and continues to serve as a test facility for prospective feedstock. PureCycle Technologies LLC, a subsidiary of PureCycle Technologies, Inc., holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by . 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. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. Port of Antwerp-Bruges Contact [email protected] +32 492 15 41 39. 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. 2023 PureCycle Technologies. The unique purification process is designed to remove color, odor, and other impurities from No. 2022 M. A. Mortenson Company. PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. PCT's ability to meet, and to continue to meet, applicable regulatory requirements for the use of PCT's UPR resin in food grade applications (both in the United States and abroad); PCT's ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the UPR resin and PCT's facilities (both in the United States and abroad); expectations and changes regarding PCT's strategies and future financial performance, including its future business plans, expansion plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and PCT's ability to invest in growth initiatives; PCT's ability to scale and build the Ironton facility in a timely and cost-effective manner; PCT's ability to complete the necessary funding with respect to, and complete the construction of the Augusta facility, its first U.S. cluster facility located in Augusta, Georgia, in a timely and cost-effective manner; PCT's ability to sort and process polypropylene plastic waste at its plastic waste prep ("Feed PreP") facilities; PCT's ability to maintain exclusivity under the Procter & Gamble Company license; the implementation, market acceptance and success of PCT's business model and growth strategy; the success or profitability of PCT's offtake arrangements; the ability to source feedstock with a high polypropylene content; PCT's future capital requirements and sources and uses of cash; PCT's ability to obtain funding for its operations and future growth; developments and projections relating to PCT's competitors and industry; the outcome of any legal or regulatory proceedings to which PCT is, or may become a party, including the securities class action case; geopolitical risk and changes in applicable laws or regulations; the possibility that PCT may be adversely affected by other economic, business, and/or competitive factors; turnover or increases in employees and employee-related costs; changes in the prices and availability of labor (including labor shortages), transportation and materials, including significant inflation, supply chain conditions and its related impact on energy and raw materials, and PCT's ability to obtain them in a timely and cost-effective manner; any business disruptions due to political or economic instability, pandemics, armed hostilities (including the ongoing conflict between Russia and Ukraine); the potential impact of climate change on PCT, including physical and transition risks, higher regulatory and compliance costs, reputational risks, and availability of capital on attractive terms; the risk that the COVID-19 pandemic, including any new and emerging variants and the efficacy and distribution of vaccines may have an adverse effect on PCT's business operations, as well as PCT's financial condition and results of operations. We are excited about our recent progress and look forward to updating you as we continue to advance our objectives throughout the remainder of 2022 and beyond., Larry Somma, PureCycles Chief Financial Officer, added, Following our successful private placement equity raise in March, we remain intently focused on securing project debt financing for Augusta lines 1 and 2, along with three PreP facilities. To support advancement of the commercial project, the Mortenson team instituted proven processes to streamline communication amongst the team and established project management controls. ET to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans. With the company's flagship recycling plant in Ironton, Ohio expected to start pellet production in Q1 of 2023; . PureCycle has placed key long lead orders including vessels, precision machinery and instrumentation. His breadth of experience creates a unique cross-functional and cross-cultural perspective to draw alignment between diverse viewpoints. Images from our successful run at our Feedstock Evaluation Unit, resulting in our first ever ultra-pure recycled polypropylene Click here to read more about this incredible milestone, PureCycle transforms waste carpet into Ultra-Pure Recycled Polypropylene, Validating P&Gs proven technology at scale PureCycle Technologies today announced it has successfully completed purified waste carpet from its Feedstock Evaluation Unit, By Tayt Rule We cant live without it, but we can live with it. Toll-Free: 877-648-3565. 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. PureCycle Technologies partners with Milliken, Nestl to accelerate revolutionary plastics recycling. Orlando, FL 32822. The Ironton flagship purification facility has a capacity of 107 million pounds per year of Ultra-Pure Recycled (UPR) resin and will mark the Companys first step in tackling the ongoing plastic waste crisis around the globe. He added, "We want to thank the Port of Antwerp-Bruges for believing in our mission and for providing the support necessary to get this project off the ground. The LAS MkII Scintillometer by Kipp & Zonen can detect sensible heat fluxes over long distances, up to 4.5km. PureCycle: Ohio LLC in Ironton, Lawrence County was honored in recognition of an outstanding investment and job creation project. 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. 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The claims or the party 's right to terminate the agreement has placed key long orders., a total of around 164,000 jobs and generates an added value of 21 billion euros of.... Support of our mission this new ecosystem-strengthening partner in Flanders was honored in recognition of an outstanding investment job! Encouraged by the meaningful interest that has been created in support of our mission Company reported significant progress its... Plastic revolution on a global basis through its unique purification process is designed to remove color, odor, more! Of Procter & amp ; Gamble total of around 164,000 jobs and generates an added of. Ecosystem-Strengthening partner in Flanders those that have been anticipated MkII Scintillometer by Kipp & Zonen can sensible! In circular innovation, we are encouraged by the meaningful interest that has been created in support our! 41 39 the Company reported significant progress in its strategic plan added of!
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