The investment is a part of PureCycle's strategic expansion into the United States to . The new polypropylene purification plant will not only supply the European market with PureCycle's UPR resin but is also expected to create 65-70 new jobs for local residents during the initial phase of the project. Port of Antwerp-Bruges Contact [email protected] +32 492 15 41 39. 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. 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. 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. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. SEATTLE (Scrap Monster): PureCycle Technologies announced corporate update of operations and financial results for third quarter 2021. The advanced recycling company and the Port of Antwerp-Bruges today jointly announced . With 50 years of combined experience, these additions to the PureCycles leadership team will be instrumental in advancing the Companys mission and business objectives. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. 21, 2017The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. PureCycle obtains license from Procter & Gamble to commercialize patent recycling technology. Being in the NextGen District will enable us to capitalize on existing efficiencies, collaborate with other innovators in the space and forge new partnerships." 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. This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. All Rights Reserved. PureCycle Technologies Inc., Orlando, Florida, has released a corporate update on operations and company expansions for the second quarter ending June 30. is the first zero plastic waste program for sports and entertainment. 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. Mr. Kalter holds a J.D. Address. 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, 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 Company will hold a conference call today at 11:00 a.m. During the third quarter, PureCycle's PureZero program added the Cincinnati Bengals and the Orlando Magic to its list of recycling partnerships, and is continuing with an expanded list of targets outside of stadium venues and professional sports to advance PureZero concepts in the hospitality and retail industries. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. 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. "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. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at (949) 574-3860.The conference call will have a live Q&A session and be available for replay here and on the Companys website at www.purecycle.com.A replay of the conference call will be available after 2 p.m. Eastern time on the same day through May 19, 2022, via the information below: International replay number: (404) 537-3406. This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. 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. (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. NEC companies in Ironton on Manta.com. Suite 300, Operational UpdatePureCycle's flagship purification facility in Ironton, Ohio is in the final phases of construction with all 26 modules delivered and lifted into place. 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 . 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. 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. Dustin Olson reiterated this number in the Q1 earnings call. PureCycle's patented purification recycling technology removes color, odor, and other impurities from polypropylene plastic. ET, Aptar and PureCycle Achieve Testing Milestone with Ultra-Pure Recycled Plastic, 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. 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 . ORLANDO, Fla., March 18, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) announced that it has completed its previously announced . 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. All Rights Reserved. We are excited to bring our Ultra-Pure Recycled . The unique purification process removes color, odor, and other impurities from No. Join us in a revolutionary and proprietary cost-effective method to recycle waste polypropylene to virgin-like 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. (740) 532-9096. 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 . 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. 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. United States. in Political Science and Communications from the University of Pennsylvania. Prior to joining PureCycle, Olson spent more than 20 years developing a diverse career path across refining, olefins, specialty chemicals, and specialty polymers throughout the United States, The Netherlands, and China. Forward-Looking StatementsThis press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. About Port of Antwerp-Bruges . 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. Orlando, FL 32822. 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. 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. The Company continues to move forward on engineering and construction activities at its planned multi-line purification facility in Augusta, Georgia. 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. There can be no assurance that future developments will be those that have been anticipated. The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. 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. Contact. Achieve a ~90% yield on feedstock that is at least 93.3% pure. 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. Website. PureCycle is preparing to enter into a feedstock agreement, as well as an offtake agreement that includes the Feedstock + pricing model, with other parties, subject to review by the Trustee. In September 2022, the Company received a notice from a single feedstock supplier and offtake customer of the Ironton Facility, seeking to terminate the feedstock and offtake agreements. Pure Cycle Environmental LLC. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. 2 PureCycle Technologies jobs in Ironton, OH. The port is a crucial link for the handling of containers, breakbulk and for the throughput of vehicles. 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. 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. Ohio (the "Ironton . PureCycle converts polypropylene plastic waste (designated as No.5 plastic) into like-new plastic. Continue Reading. Construction of the plant is expected to begin upon completion of the permitting process, which is currently anticipated in 2024. The company's flagship recycling plant in Ironton is Ohio expected to start pellet production in Q1 2023. PureCycle Technologies continues to expand its global reach. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. PureCycle's Ironton, OH Facility is on Track to Start Producing Pellets Q1 2023 ORLANDO, Fla., Dec. 19, 2022 . 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 . In 2021, Olson was honored by the Missouri University of Science and Technology as a new inductee to the Academy of Chemical Engineers. 2023 PureCycle Technologies. pure cycle technologies ironton, ohio address french a1 grammar pdf $ 0.00. With the company's flagship recycling plant in Ironton, Ohio expected to start pellet production in Q1 of 2023; . If you have any difficulty connecting with the conference call, please contact PureCycle Investor Relations at (689) 233-3595. Claim this business. PureCycle Technologies Ironton, OH. 2023 PureCycle Technologies. 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. It also has released financial results for the third quarter ending Sept. 30. Ironton, Ohio at PureCycle Technologies . The stock price is 21.7% below the long-term trend of the 200 . 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. 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. 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. 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. Port of Antwerp-Bruges Contact press@portofantwerpbruges.com +32 492 15 41 39. . 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 is listed on the Nasdaq capital market under the ticker symbol PCT. Skip to Content. 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. 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. 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. We enable the use of recycled content in your applications without trade-offs. Posted 9:00:27 PM. The Company currently expects to exceed the original budget by $55 - $65 million due to increased investments as well as growing inflationary pressures. We use cookies to enhance your experience. Our Augusta purification facility build-out is underway and remains on track for startup in the fourth quarter of 2023. By continuing to browse this site you agree to our use of cookies. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. Ms. Ettefagh has been an avid public speaker at conferences, symposiums, and in webinars for the past 25 years, and served on several Boards, including the Sustainable Packaging Coalition from 2019 to 2020. Toll-Free: 877-648-3565. . 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. 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. Who is PureCycle. (740) 532-9096. The Company has also begun an evaluation of alternative sites in Central Florida. 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 firm also has a deal with SK Geo Centric to bring its solvent . 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. 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. 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. 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. -PureCycle's flagship purification facility in Ironton, Ohio, ("Ironton") targeting mechanical completion and pellet production in the first quarter of 2023. PureCycle Technologies is renovating three buildings on 23 acres near Ironton . 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. Continue Reading. . PureCycle had $233.3 million in debt and accrued interest, less $16.3 million of discount and issuance costs as of September 30, 2022. A Florida company is setting up shop in Lawrence County, Ohio, investing $360million in a plastics recycling facility. Larry has Bachelor of Science degree in mechanical engineering as well as a Master of Engineering degree in engineering management from Cornell University. Process feedstock at 15,144 lbs per hour. There can be no assurance that future developments will be those that have been anticipated. An operator will register your name and organization. 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. Ticker NASDAQ: . The new plant is expected to have annual capacity of 59,000 metric tons (130 million pounds), with plentiful . Waste360 - Waste360 Staff - Jul. The Company responded, disputing the claims or the party's right to terminate the agreement. PureCycle . He also earned a Master of Business Administration degree from State University of New York at Buffalo. Our team at PureCycle looks forward to creating a more sustainable future together. PureCycle Technologies Provides First Quarter 2022 Update. 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. 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 . 5 plastic waste resulting in an ultra-pure recycled (UPR) resin that can be recycled and reused multiple times, changing our relationship with plastic. 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 . FIT also supports PureCycle in the start-up and development of their site and their anchoring in Flanders.". ET to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans. 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 . While we continue to work to complete the project financing for the Augusta Facility, we also remain focused on cost management and project execution excellence to mitigate the impact to our timeline. 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. from Emory University and a B.A. The construction site is now energized and 4 out of the 26 modules have been delivered and lifted into place. 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. PureCycle's current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. PureCycle's flagship purification facility in Ironton is in the final phases of construction . We are working diligently to have financial flexibility and the needed commitments by year-end.". -Project debt financing to fund Augustas first two purification lines and three East Coast PreP facilities expected to be completed by the fourth quarter. The PureCycle Technologies Feedstock Evaluation Unit construction is under way! PureCycle, a subsidiary of Innventures, an investment company interested in disruption, aims to have its plant in Ironton, Ohio, fully operational by 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. More info. PureCycle Technologies LLC. The unique purification process is designed to remove color, odor, and other impurities from No. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in ultra-pure polypropylene suitable for any PP market. Worlds-first, global impact, game changing, are words that have been used to describe the PureCycle Technology project. She holds a Bachelor of Science in Communications from Texas A&M University. We are discussing the financing timeline with the Development Authority of Augusta, Georgia ("AEDA"). 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. The Company is building its first commercial-scale plant in Ironton, Ohio, which is expected to have nameplate capacity of approximately 107 million pounds . 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. Except to the extent required by applicable law or regulation, PCT 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. Third Quarter 2022 Conference Call Details. 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. Two purification lines and three East Coast PreP facilities expected to be completed by the fourth of. Is under way commercialize patent recycling technology removes color, odor and other impurities from.. Also has released financial results for third quarter and updated future strategic plans Bachelor of Science and from. The port is a crucial link for the throughput of vehicles to terminate the agreement financing! 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