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. As Ironton and Augusta projects progress, the Companys current sales cycle continues to shorten. The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. Mortenson spent time learning what our needs were so that we could drive results. Mr. Kalter holds a J.D. Independent Construction Monitoring Reports, PureCycle Named No. 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. Today there is virtually no UPR resin in the market, and PureCycle is the first company to solely focus on recycling and reintegrating PP upstream into high-value, consumer-facing applications. The supplemental positions include the vice president of finance and senior director of revenue.Feedstock and Commercial UpdatePureCycle has continued to advance the feedstock procurement pipeline, with approximately 215 million pounds of polypropylene under LOI, to supply the first two lines of the Companys Augustas purification facility. Previous to PureCycle, she worked as a Senior Consultant both in an independent capacity and for major consulting firms in the plastics recycling space, focusing on strategy and implementation to advancements in process, primarily in polyolefins. 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 Contact Christian Bruey [email protected] +1 (352) 745-6120. 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. Olson and his wife, Amanda, have three children and currently live in Orlando, Florida. Action: At PureCycle we transform polypropylene plastic into a versatile, replenishable resource through our process. PureCycle Technologies partners with Milliken, Nestl to accelerate revolutionary plastics recycling. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. PureCycle Technologies Ironton, OH. Address: 925 County Road 1A Ironton, OH, 45638-8687 United States See other locations Phone: ? Our Augusta purification facility build-out is underway and remains on track for startup in the fourth quarter of 2023. PureCycle is expanding globally and actively scaling its production capabilities. 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 Technologies Provides Third Quarter 2022 Update . The firm also has a deal with SK Geo Centric to bring its solvent . Management CommentaryDustin Olson, PureCycle's Chief Executive Officer, said, "The PureCycle team continued to make significant progress in executing the Company's strategic growth plans during the third quarter. Our proprietary process removes color, odor, and other contaminants - resulting in 100% virgin-like . 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 . Before Hyatt, Larry worked for Lennar Corporation, Sara Lee Corporation, Fisher Scientific International and General Motors Corporation in different finance roles, including an expatriate assignment in London, England. 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 company reported significant progress in its strategic plan. We enable the use of recycled content in your applications without trade-offs. Waste360 - Waste360 Staff - Jul. That facility, located in Ulsan, South Korea, is expected to be completed by the end of 2024 and is projected to produce 60,000 tons of "ultra-pure recycled plastic" annually. The new plant is expected to have an annual capacity of 59,000 metric tons (130 million pounds), with opportunities to expand operations in the future since the 14-hectare plot can support up to four processing lines with an anticipated total capacity of approximately 240,000 metric tons (500 million pounds) per year (in total for all four processing lines). PureCycle Technologies Inc., Orlando, Florida, has released a corporate update on operations and company expansions for the second quarter ending June 30. About PureCycle TechnologiesPureCycle 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. Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. 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. 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. Suite 300, NextGen District is a global hub for businesses seeking to advance the circular economy. 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 . 5 plastic) into a continuously renewable resource. These risks and uncertainties include, but are not limited to, those factors described in the section of PCTs 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 PCT and the following: Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of PCT prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. 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. PureCycle Technologies continues to expand its global reach. We are excited to bring our Ultra-Pure Recycled (UPR) resin to customers in Europe, where companies and policies are at the forefront of the circular economy. Please note there will no longer be a telephonic replay. 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 port provides, directly and indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. Ohio, 45638. United States. The facility, which is being built as part of Procter & Gamble's innovation to boost polypropylene recycling, will utilize a technology that is capable of generating recycled PP with virgin-like properties. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. 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. 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. Ironton, Ohio at PureCycle Technologies . 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 is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. 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. We are excited to bring our Ultra-Pure Recycled . 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. 21, 2017The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. Forward-Looking StatementsThis press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. 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. 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. The stock price is 21.7% below the long-term trend of the 200 . 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. Before Hyatt, Larry worked for Lennar Corporation, Sara Lee Corporation, Fisher Scientific International and General Motors Corporation in different finance roles, including an expatriate assignment in London, England. Employer Identification No.) He strongly supports numerous educational endeavors as a Board Member for the Industrial Advisor Counsel at the University of Missouri-Rolla Department of Chemical Engineering (2009-12), the Rice University Jones School Alumni (2010-13), and the Steeleville High School Foundation (current). 5950 Hazeltine National Drive The facility, which is being built as part of Procter & Gambles innovation to boost polypropylene recycling, will utilize a technology that is capable of generating recycled PP with virgin-like properties. No products in the cart. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. PureCycle continues to progress negotiations on the remaining 30% of available volume. 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. 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. is expected to be completed by the end of 2024 and is expected to produce 60,000 tonnes of "ultra-pure recycled plastic" per year. All Rights Reserved. Operational Update Pure Cycles flagship purification facility in Ironton, Ohio remains on track with mechanical completion expected in early fourth quarter 2022 followed by initial pellet production by year- end. PureCycles current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. We are working diligently to have financial flexibility and the needed commitments by year-end.". Mr. Kalter was responsible for overseeing the legal functions of the organization including corporate governance, compliance, litigation and subsidiary management, as well as overseeing legal aspects of corporate financing transactions and mergers and acquisitions. ORLANDO, Fla., March 18, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) announced that it has completed its previously announced . It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. 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. The Company is building its first commercial-scale plant in Ironton, Ohio, which is expected to have nameplate capacity of approximately 107 million pounds . In his role as vice president of finance strategy and transformation he was responsible for establishing and executing an operating model and organizational design for the global finance team, as well as creating an enterprise-wide strategy for shared services and end-to-end global process excellence. The sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is, you use it every day. 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