The firm also has a deal with SK Geo Centric to bring its solvent . KraussMaffei Delivers Final Extruder for PureCycle's Flagship Purification Plant Ahead of Schedule. 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. Olson and his wife, Amanda, have three children and currently live in Orlando, Florida. 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. . PureCycles also announced its recent elevation of Dustin Olson to chief operating officer in addition to his chief manufacturing officer responsibilities and the expansion of two key roles to the Companys current finance team. 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. . Headquarters. In addition, PureCycle has completed its Ironton PreP build out and is currently in commissioning and processing feedstock onsite. 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. 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. 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. PureCycle Technologies, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 001-40234 86-2293091 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. The Sensi+ is a laser-based analyzer used for monitoring natural gas quality. 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. 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. All Rights Reserved. PureCycle has placed key long lead orders including vessels, precision machinery and instrumentation. PureCycles current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. . PureCycle Technologies continues to expand its global reach. ET, Aptar and PureCycle Achieve Testing Milestone with Ultra-Pure Recycled Plastic, PureCycle Named No. Dustin Olson reiterated this number in the Q1 earnings call. PureCycle Technologies licenses technology from Procter & Gamble. Recently, Aptar converted prototype material from, Dan Holloway, PureCycles vice president of human resources and administration and Brandwyn Bee Frye, PureCycles human resources manager accept the Best Places to Work award from Plastics News on behalf, 5950 Hazeltine National Drive pure cycle technologies ironton, ohio address french a1 grammar pdf $ 0.00. 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. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. In 2021, Olson was honored by the Missouri University of Science and Technology as a new inductee to the Academy of Chemical Engineers. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 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. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. psalm 23:4 tattoo back. 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 Vocus CI-TOF from TOFWERK provides real-time chemical ionization measurements. We are excited to bring our Ultra-Pure Recycled . 5 plastic) into a continuously renewable resource. PureCycle Technologies (NASDAQ: PCT) . 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 . 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. 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. 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. The Company will hold a conference call today at 11:00 a.m. 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. 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. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. About Innventure Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. 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. Toll-Free: 877-648-3565. 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. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. Lastly, in partnership with Milliken & Co, we announced the first fully sustainable, odorless concentrate for the recycled PP resin marketplace. These risks and uncertainties include, but are not limited to, those factors described in the section of PCT'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 PCT (including PCT's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022) 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. 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. 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. Prior to joining Exide, Mr. Kalter served as General Counsel at Cotton States Insurance Group, a multi-line insurance group, from 1999 through 2003. Website: www.purecycle.com PureCycle . 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. The sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is, you use it every day. Construction of the plant is expected to begin upon completion of the permitting process, which is currently anticipated in 2024. Apr. 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. 5950 Hazeltine National Dr Ste 650, Orlando, Florida, 32822, United States . ", Port of Antwerp-Bruges CEO, Jacques Vandermeiren, said, "The Port of Antwerp-Bruges' NextGen District is committed to creating an innovation hotspot where companies dedicated to building a circular economy and developing sustainable solutions to some of the world's toughest climate and environmental challenges can thrive. Get information, directions, products, services, phone numbers, and reviews on Purecycle Technologies in Ironton, . If you have any difficulty connecting with the conference call, please contact PureCycle Investor Relations at (689) 233-3595. We have engaged Jefferies LLC to lead the project debt financing, which is progressing, and we look forward to providing updates to the market as soon as it is completed.. 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. PureCycle was recently awarded a concessionaire contract during NextGen's competitive bid selection process. 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 The Procter & Gamble Company, for restoring waste polypropylene (PP) into ultra-pure resin. Address. Suite 300, Plastics. Larry has Bachelor of Science degree in mechanical engineering as well as a Master of Engineering degree in engineering management from Cornell University. 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. We're thrilled to be partnering with PureCycle on this strategic project to help bring that vision to life.". The company uses solvents to treat recovered PP, making it . More. PureCycle Technologies Inc., Orlando, Florida, has announced a corporate update for several projects, including its plant in Ironton, Ohio, and facilities in Augusta, Georgia. 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. Dustin Olson is Chief Executive Officer of PureCycle Technologies and leads all global operations for the organization. Our game-changing process helps close the loop on plastic waste while making recycled plastics more accessible at scale. 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. 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. 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 recently filed securities class action case; the ability to recognize the anticipated benefits of the previously announced business combination consummated on March 17, 2021; unexpected costs related to the business combination; 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; changes in the prices and availability of labor (including labor shortages), transportation and materials, including significant inflation, and PCT's ability to obtain them in a timely and cost-effective manner; 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, and local, state, federal and international responses to addressing the pandemic may have an adverse effect on PCT's business operations, as well as PCT's financial condition and results of operations. The second phase, currently underway, involves scaling the evaluation process over 1000X to commercial scale. No products in the cart. 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 aims to have its Ironton, Ohio, facility for producing what it calls "ultra-pure recycled polypropylene" running by the first quarter of 2023. . 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 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 . PureCycle Technologies LLC, dba PureCycle, holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter . All Rights Reserved. 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. 2023 PureCycle Technologies. 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. 1125 County Road 1A, Ironton. 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. Continue Reading. 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. 21, 2017: The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. PureCycle holds the possibility to solve for the ongoing problem of recycling the approximately 170 billion pounds of PP produced every year, which has averaged a 5% rate of growth over the last five years. Address: 925 County Road 1A Ironton, OH, 45638-8687 United States See other locations Phone: ? All rights reserved. A replay of the conference call will be available after 2:00 p.m. Eastern time on the same day through November 10, 2023. 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. 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. About Port of Antwerp-Bruges . 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. Pure Cycle Environmental LLC. 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 . 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. Ticker NASDAQ: . www.purecycle.com. 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. 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 . Please note there will no longer be a telephonic replay. The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. United States. Mr. Kalter holds a J.D. in Political Science and Communications from the University of Pennsylvania. PureCycle Technologies Ironton, OH. 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. An operator will register your name and organization. "Worlds-first", "global impact", "game changing", are words that have been used to describe the PureCycle Technology project. A Florida company is setting up shop in Lawrence County, Ohio, investing $360million in a plastics recycling facility. 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. 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. Posted 9:00:27 PM. SIC Code 28,282. 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. 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. 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Partnering with PureCycle on this pure cycle technologies ironton, ohio address project to help bring that vision to life. `` and all. Eastern time on the same day through November 10, 2023 better decision making this! Revolution has arrived.While you may not know what polypropylene plastic is, use... A startup Named PureCycle Technologies Innventure has more than 20 years of identifying! Register your name and organization as well as provide dial-ins numbers and a unique access pin upon completion the! Including vessels, precision machinery and instrumentation reiterated this number in the Q1 earnings.. Supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, curbside. Successful new companies company uses solvents to treat recovered PP, making it up shop in Lawrence,...
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