Get information, directions, products, services, phone numbers, and reviews on Purecycle Technologies in Ironton, . PureCycle had $233.3 million in debt and accrued interest, less $16.3 million of discount and issuance costs as of September 30, 2022. All Rights Reserved. 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. 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 . Port of Antwerp-Bruges is home to 1,400 companies and accommodates the largest integrated chemical cluster in Europe. 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 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. 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 . 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 . In addition, PureCycle has completed its Ironton PreP build out and is currently in commissioning and processing feedstock onsite. PureCycle's current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. . 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. 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. 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. This project was the culmination of many facets of economic development . Address. PureCycle remains steadfast in its mission to advance the sustainable plastic revolution on a global basis through its unique purification process. ET to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans. 1125 County Road 1A Ironton OH 45638. Our objective remains raising the necessary capital to fund our growth and help bridge us to our goal of delivering Ironton operational revenue in 2023. Various funding options are currently being considered, including traditional financing sources as well as grants/subsidies for circular projects that are uniquely available in the EU. We expect our three PreP facilities (Central Florida, Denver, Pennsylvania, and Augusta, Georgia) to be fully operational in advance of the completion of Augusta purification lines 1 and 2. www.purecycle.com. All Rights Reserved. The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. Using our ground-breaking patented recycling process, developed by Procter and Gamble, we separate color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled resin., PureCycle Technologies breaks ground on polypropylene recycling facility in Ohio, PureCycle, Port of Antwerp-Bruges Announce NextGen District as Location For PureCycles First Plastic Recycling Plant in Europe, KraussMaffei Delivers Final Extruder for PureCycle's Flagship Purification Plant Ahead of Schedule, Viscosity Modification of PureFive HPP15S Using Millikens DeltaFlow, Orlando Magic Advance Sustainability Efforts with PureCycle's PureZero Program. 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. 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. 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. 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. 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. 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. 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 . 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. A replay of the conference call will be available after 2:00 p.m. Eastern time on the same day through November 10, 2023. Who is PureCycle. 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. pure cycle technologies ironton, ohio address. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and . 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. 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 LLC, dba PureCycle, holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter . Action: At PureCycle we transform polypropylene plastic into a versatile, replenishable resource through our process. Continue Reading. The Ironton purification facility will have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled ("UPR") resin. -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. in Political Science and Communications from the University of Pennsylvania. PureCycle Technologies Inc., Orlando, Florida, has released a corporate update on operations and company expansions for the second quarter ending June 30. Posted 9:00:27 PM. 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. 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. 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. Third Quarter 2022 Conference Call Details. It also has released financial results for the third quarter ending Sept. 30. Ironton, OH 45638 (740) 532-9096 Get Directions Similar Businesses . 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. 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. Please register for the conference call using the above link in advance of the call start time. 2023 PureCycle Technologies. from Emory University and a B.A. 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. The port is a crucial link for the handling of containers, breakbulk and for the throughput of vehicles. Augusta's purification lines 1 and 2 are currently 111% contracted through multi-year offtake agreements and commitments, with notable volume during the third quarter derived from packaging converters and compounders. There can be no assurance that future developments will be those that have been anticipated. 5950 Hazeltine National Drive All rights reserved. Orlando, FL 32822. 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. The Company continues to move forward on engineering and construction activities at its planned multi-line purification facility in Augusta, Georgia. 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. Plastic supports our everyday life in countless ways and we often underestimate the important role it, 5950 Hazeltine National Drive This confirms that Flanders is among the world leaders in waste collection and processing and strengthens our position even more firmly as a leading recycling hub. (740) 532-9096. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. ", Larry Somma, PureCycle's Chief Financial Officer, added, "We have experienced a more challenging financing market than originally anticipated when initiating our fund raising efforts in June. 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. 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. Larry has Bachelor of Science degree in mechanical engineering as well as a Master of Engineering degree in engineering management from Cornell University. 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. Toll-Free: 877-648-3565. 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 Company continues to work with local officials in Central Florida in an effort to remedy issues related to obtaining the necessary water and sewer permits to construct its current PreP site. 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. The new plant is expected to have an annual capacity of . 122 were here. 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. 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. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. www.portofantwerpbruges.com, 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 Innventure Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. 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. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. A ground-breaking process that recycles waste plastic into a sustainable ultra-pure resin. PureCycle's flagship purification facility in Ironton is in the final phases of construction . 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 . She holds a Bachelor of Science in Communications from Texas A&M University. 2023 PureCycle Technologies. Ahead of The Greener Manufacturing Show in Cologne on the 9th and 10th of November 2022, AZoCleanTech spoke with Peter Sarno, event director of the show, about the push for sustainable industrial solutions. The company uses solvents to treat recovered PP, making it . Visit Website Request Information/Quote Download PDF Copy. 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. 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. -Finalized its Joint Venture Agreement with SK geo centric to develop a purification facility in Ulsan, South Korea. 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 has placed key long lead orders including vessels, precision machinery and instrumentation. This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. 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. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. 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. PureCycle aims to have its Ironton, Ohio, facility for producing what it calls "ultra-pure recycled polypropylene" running by the first quarter of 2023. . Commissioning and processing feedstock onsite and automation from the University of Pennsylvania on a $ 120 million polypropylene ( ). Its Ironton PreP build out and is currently in commissioning and processing feedstock onsite have! Access pin it also has released financial results for the throughput of.! To 1,400 companies and accommodates the largest integrated chemical cluster in Europe in commissioning processing! 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