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 investment is a part of PureCycle's strategic expansion into the United States to . Dustin Olson is Chief Executive Officer of PureCycle Technologies and leads all global operations for the organization. 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 Constructionis 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 fourth . A ground-breaking process that recycles waste plastic into a sustainable ultra-pure resin. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. 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. 2022 M. A. Mortenson Company. As Ironton and Augusta projects progress, the Companys current sales cycle continues to shorten. 2023 PureCycle Technologies. Prior to joining Exide, Mr. Kalter served as General Counsel at Cotton States Insurance Group, a multi-line insurance group, from 1999 through 2003. Our team is providing quite a few tours for our strategic partners and the feedback of seeing our process https://www.bloomberg.com/news/features/2019-09-25/polypropylene-plastic-can-finally-be-recycled, https://www.greenbiz.com/article/big-brands-recruit-small-innovators-battle-against-single-use-plastics, https://purecycletech.wpengine.com/wp-content/uploads/2019/03/Moodys-assigns-Green-Bond-Assessment-.pdf, https://www.fastcompany.com/90316183/this-big-new-innovation-could-help-fix-our-broken-recycling-system, https://static1.squarespace.com/static/5a6ca9a2f14aa140556104c0/t/5baa5bcf1905f44e420e6fe7/1537891289199/US_CE_Study_2018_FINAL.pdf, Ultra-pure recycled polypropylene successful run at the FEU, PureCycle Technologies celebrates successful run of groundbreaking plastics recycling technology, PureCycle Technologies partners with Milliken, Nestl to accelerate revolutionary plastics recycling. Headquarters. It hopes to ingest enough polypropylene so that it can output 107 million pounds of what's called "Ultra-Pure Recycled" resin. PureCycle Technologies process offers the only recycled polypropylene with properties equal to virgin polymer. Since starting construction, engineering activities remain on track and key construction contracts are in place. PureCycle, a subsidiary of Innventures, an investment company interested in disruption, aims to have its plant in Ironton, Ohio, fully operational by 2023. -Closed on offtake agreements representing 106.0 million pounds of ultra-pure recycled ("UPR") resin bringing total signed offtake agreements to 111% of nameplate capacity for Augusta lines 1 and 2. About Innventure Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. 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. 5950 Hazeltine National Drive, Suite 300, Orlando Florida 32822 (Address of Principal Executive Offices) (Zip Code) The Company is building its first commercial-scale plant in Ironton, Ohio, which is expected to have nameplate capacity of approximately 107 million pounds . 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. Get information, directions, products, services, phone numbers, and reviews on Purecycle Technologies in Ironton, . For Businesses; Free Company Listing; Premium Business Listings . 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. United States. 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. Apr. 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. PureCycle Contact Christian Bruey [email protected] +1 (352) 745-6120. Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. (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 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 the Quarterly Report to be filed on Form 10-Q. There can be no assurance that future developments will be those that have been anticipated. Orlando, FL 32822. 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. We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. 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. We believe the market's continuing interest in PureCycle's UPR resin is demonstrated through the acceptance of the Feedstock + pricing mechanism and the compilation of offtake agreements accumulated for both Ironton and Augusta operations. -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. PureCycle Technologies, Inc. et le port d'Anvers-Bruges ont annonc que PureCycle a l'intention de construire sa premire installation de recyclage de polypropylne en Europe dans le district . 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. 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. Following on from the Greener Manufacturing Show, AZoCleantech speaks withChristophe Williams,CEO and co-founder of Naked Energy, about the company and its mission to change energy for goodby acceleratingthe transition to net zero carbon. 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. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. 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. PureCycle Contact Christian Bruey cbruey@purecycle.com +1 (352) 745-6120. There can be no assurance that future developments will be those that have been anticipated. Our team at PureCycle looks forward to creating a more sustainable future together. 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 nearing startup of the company's first plant in Ironton, Ohio, and has plans for a second facility in Augusta, Ga. Without expressing any opinion on the validity of the feedstock and offtake party's claims, the Bondholder Trustee notified the Company that it was exercising its authority under the Bond Indenture to investigate the allegations, during which time the Company's request for payment of $12.4 million of the remaining $13.2 of funds remaining available for construction expense reimbursements remain pending. Third Quarter 2022 Conference Call Details. We are working diligently to have financial flexibility and the needed commitments by year-end.". 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. Worlds-first, global impact, game changing, are words that have been used to describe the PureCycle Technology project. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. 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. 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. 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. All subsequent written and oral forward-looking statements or other matters attributable to PureCycle 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. Posted 9:00:27 PM. PureCycle remains steadfast in its mission to advance the sustainable plastic revolution on a global basis through its unique purification process. Ticker NASDAQ: . . 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. Independent Construction Monitoring Reports, PureCycle Named No. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. 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. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and operationalizing a proprietary process that creates near virgin quality polypropylene from recycled feedstock. Timing of mechanical completion and pellet production at our flagship Ironton facility has been pushed back a few weeks due to unexpected delays in the delivery of key processing equipment. PureCycle Technologies Inc., Orlando, Florida, has released a corporate update on operations and company expansions for the second quarter ending June 30. All Rights Reserved. Dustin Olson reiterated this number in the Q1 earnings call. 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's ability to meet, and to continue to meet, applicable regulatory requirements for the use of PureCycle's UPR resin in food grade applications (both in the United States, Europe and internationally); PureCycle's ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the UPR resin and PureCycle's facilities (both in the United States, Europe and internationally); expectations and changes regarding PureCycle'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 PureCycle's ability to invest in growth initiatives; PureCycle's ability to scale and build its first commercial-scale recycling facility in Lawrence County, Ohio (the "Ironton Facility") in a timely and cost-effective manner; PureCycle's ability to complete the necessary funding with respect to, and complete the construction of, its first U.S. multi-site facility located in Augusta, Georgia (the "Augusta Facility"), in a timely and cost-effective manner; PureCycle's ability to sort and process polypropylene plastic waste at its plastic waste prep ("Feed PreP") facilities; PureCycle's ability to maintain exclusivity under the Procter & Gamble Company license; the implementation, market acceptance and success of PureCycle's business model and growth strategy; the success or profitability of PureCycle's offtake arrangements; the ability to source feedstock with a high polypropylene content; PureCycle's future capital requirements and sources and uses of cash; PureCycle's ability to obtain funding for its operations and future growth; developments and projections relating to PureCycle's competitors and industry; the outcome of any legal or regulatory proceedings to which PureCycle is, or may become, a party including the securities class action case; geopolitical risk and changes in applicable laws or regulations; the possibility that PureCycle may be adversely affected by other economic, business, and/or competitive factors, including rising interest rates; 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 PureCycle'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 the company, 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 ("COVID-19"), including any new and emerging variants and the efficacy and distribution of vaccines may have an adverse effect on PureCycle's business operations, as well as PureCycle's financial condition and results of operations. Pure Cycle Environmental LLC. 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. There can be no assurance that future developments will be those that have been anticipated. The Company continues to focus on securing feed for the remaining feedstock capacity and is actively targeting feed streams that are currently being landfilled or incinerated. 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. 5 plastic) into a continuously renewable resource. Plastic supports our everyday life in countless ways and we often underestimate the important role it, 5950 Hazeltine National Drive With a vision to ultimately create an infinitely sustainable planet, at PureCycle, we transform polypropylene plastic into a versatile, replenishable resource through our unique purification process. Visit Website Request Information/Quote Download PDF Copy. 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. Mr. Kalter previously served as Vice President, Deputy General Counsel and Corporate Secretary at Exide from 2009 to September 2015 and also as Exides Deputy General Counsel and Corporate Secretary from 2006 to 2008. The port provides, directly and indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros. ET, Aptar and PureCycle Achieve Testing Milestone with Ultra-Pure Recycled Plastic, PureCycle Named No. As a result of the financing not closing by June 30, 2022, on October 5, 2022, the Company and the AEDA executed an agreement that permits the AEDA to terminate the MOU should the Company fail to obtain financing by December 31, 2022. Contact. 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. The company's flagship recycling plant in Ironton is Ohio expected to start pellet production in Q1 2023. View original content to download multimedia:https://www.prnewswire.com/news-releases/purecycle-port-of-antwerp-bruges-announce-nextgen-district-as-location-for-purecycles-first-plastic-recycling-plant-in-europe-301722880.html. ORLANDO, Fla., March 18, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) announced that it has completed its previously announced . Bond financing proceeds will be used to complete the first commercial plant in Ironton, Ohio, which is expected to produce over 105 million pounds of ultra-pure recycled polypropylene (UPRP) per year. A Florida company is setting up shop in Lawrence County, Ohio, investing $360million in a plastics recycling facility. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. This process fully closes the loop on the reuse of recycled . 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. Should efforts with local officials be unsuccessful, the Company does not currently believe the delays associated with relocation of this PreP site will impact the operations at the Augusta Facility, or have a material financial impact on the Company. Purecycle Technologies LLC. 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. -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. Export and investment promotion agency Flanders Investment & Trade played a leading role in this investment dossier through teams in the US and in Flanders. PureCycle Vice President of European Operations, Wiebe Schipper, commented, "The announcement of our first location in Europe marks the next phase in executing PureCycle's global growth strategy. 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). The port is a crucial link for the handling of containers, breakbulk and for the throughput of vehicles. Waste360 - Waste360 Staff - Jul. Our proprietary process removes color, odor, and other contaminants - resulting in 100% virgin-like . No products in the cart. 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. Employer Identification No.) 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. PureCycle Technologies Ironton, OH. She holds a Bachelor of Science in Communications from Texas A&M University. SEATTLE (Scrap Monster): PureCycle Technologies announced corporate update of operations and financial results for third quarter 2021. Claim this business. Consumer demand, combined with major multinational sustainability commitments, reinforced by new stringent recycled content restrictions and non-recycled plastic taxes, have led to substantial interest in, and demand for, PureCycles UPR resin. We are discussing the financing timeline with the Development Authority of Augusta, Georgia ("AEDA"). The company reported significant progress in its strategic plan. Website. The Company will hold a conference call today at 11:00 a.m. 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. The PureCycle Technologies Feedstock Evaluation Unit construction is under way! 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. is the first zero plastic waste program for sports and entertainment. To learn more, visit purecycletech.com. 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. 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. Mr. Coombs previously worked for, Company Releases Inaugural ESG Report with Preliminary LCA Data ORLANDO, Fla. May 18, 2022 Today, PureCycle Technologies, Inc. (Nasdaq: PCT) released its inaugural Environmental, Social, and Governance (ESG) Report, 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 Construction is underway for PureCycles second, ORLANDO, Fla. April 27, 2022 PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, will host a conference call on Thursday, May 12, 2022, to provide, Aptar and PureCycle are working to determine the right material combination to create hinged closures for food, beverage and cosmetics applications made with UPR. in Political Science and Communications from the University of Pennsylvania. Ironton, OH 45638 (740) 532-9096 Get Directions Similar Businesses . The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. 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Ground-Breaking process that recycles waste plastic into a sustainable ultra-pure resin services, phone,! Premium Business Listings companies and accommodates the largest integrated chemical cluster in Europe to have financial flexibility the... Are discussing the financing timeline with the Development Authority of Augusta, Georgia ( `` AEDA '' ) for... Aptar and PureCycle Achieve Testing Milestone with ultra-pure recycled plastic, PureCycle named no more sustainable future together process color... Ground-Breaking process that recycles waste plastic into a sustainable ultra-pure resin construction contracts are in place the. Listing ; Premium Business Listings register your name and organization as well as dial-ins. A conference call today at 11:00 a.m currently anticipated in the second half of 2023 with. Q1 earnings call Businesses ; Free Company Listing ; Premium Business Listings Company setting! Pp with virgin-like properties, Ohio - Must be in a plastics recycling facility anticipated. 21 billion euros, 32822, United States to for replay hereand on the Company & # ;. Update of operations and financial planning with the Development Authority of Augusta, Georgia ( `` AEDA ). With virgin-like properties created in support of our mission can be no that! Original content to download multimedia: https: //www.prnewswire.com/news-releases/purecycle-port-of-antwerp-bruges-announce-nextgen-district-as-location-for-purecycles-first-plastic-recycling-plant-in-europe-301722880.html commutable distance, or willing toSee this and similar on! With the Development Authority of Augusta, Georgia ( `` AEDA ''....
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