Action: At PureCycle we transform polypropylene plastic into a versatile, replenishable resource through our process. Company Contact:Anna Farrarafarrar@purecycle.com(954) 647-7059, Investor Relations Contact:Georg VenturatosGateway Investor RelationsPCT@GatewayIR.com(949) 574-3860, 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 Provides First Quarter 2022 Update, 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. 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. PureCycle had $233.3 million in debt and accrued interest, less $16.3 million of discount and issuance costs as of September 30, 2022. 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. PureCycles ground-breaking, patented recycling process, developed and licensed by Procter & Gamble (P&G) and commercialized by PureCycle, separates color, odor and other contaminants from plastic waste feedstock to transform it into Ultra-Pure Recycled (UPR) resin with virgin-like properties. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. 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. 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. Larry Somma has nearly three decades of experience in the corporate finance sector at world-class publicly traded companies within the plastics, manufacturing, hospitality, and consumer goods industries. 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. SEC djyanbao.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT . PureCycle Technologies continues to expand its global reach. Independent Construction Monitoring Reports, https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No. PureCycle Technologies (NASDAQ: PCT) . The company's flagship recycling plant in Ironton, OH is . 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.. Jul. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. 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. is the first zero plastic waste program for sports and entertainment. The firm also has a deal with SK Geo Centric to bring its solvent . 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. ORLANDO, Fla., March 18, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) announced that it has completed its previously announced . PureCycle's Ironton, OH Facility is on Track to Start Producing Pellets Q1 2023 ORLANDO, Fla., Dec. 19, 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. Waste360 - Waste360 Staff - Jul. We use cookies to enhance your experience. This project represents one of the largest investments announced in the NextGen District to date. Earlier in his career, Olson held senior leadership roles in manufacturing, commercial, and business support functions in refining, commodity chemicals, and specialty polymer business units across the world. 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 . 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. 2023 PureCycle Technologies. 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. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. -Project debt financing to fund Augustas first two purification lines and three East Coast PreP facilities expected to be completed by the fourth quarter. She has consulted for agencies, banks, potential plastic manufacturers on market conditions, types of supply, and how to evolve and diversify markets for recycled resins. Claim this business. First Quarter 2022 Conference Call Details Date: Thursday, May 12, 2022Time: 11:00 a.m. ETToll-free dial-in number: (855) 940-5314International dial-in number: (929) 517-0418Conference ID: 1494706Please call the conference telephone number 5-10 minutes prior to the start time. FIT also supports PureCycle in the start-up and development of their site and their anchoring in Flanders.". All rights reserved. Visit Website Request Information/Quote Download PDF Copy. Search job openings, see if they fit - company salaries, reviews, and more posted by PureCycle Technologies employees. 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. 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. 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. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. 21, 2017: The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. . 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. Forward-Looking StatementsThis press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. PureCycle Contact Christian Bruey cbruey@purecycle.com +1 (352) 745-6120. There is a lot of cultural alignment between PureCycle and Mortenson that rolls into long-term relationships. Join us in a revolutionary and proprietary cost-effective method to recycle waste polypropylene to virgin-like resin. 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. Minister-President of Flanders, Jan Jambon,remarked, "PureCycle selected Flanders as the preferred location within the EU for the construction of its first European recycling plant. PureCycles current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. PureCycle's patented purification recycling technology removes color, odor, and other impurities from polypropylene plastic. To date, PureCycle has established strategic partnerships and supply contracts across the plastics value chain including, but not limited to, resin producers, converters, and consumer facing brands. PureCycle Technologies Provides First Quarter 2022 Update. Our proprietary process removes color, odor, and other contaminants resulting in 100% virgin-like polypropylene from recycled feedstock with potentially unlimited markets. 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. Worlds-first, global impact, game changing, are words that have been used to describe the PureCycle Technology project. 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. Based on the current expectation that funding for the project will be in place by year-end, we now anticipate mechanical completion, startup, and full commissioning of Augusta lines 1 and 2 to be in the second half of 2024. Odor, and other impurities from polypropylene plastic into a versatile, replenishable resource through our process s patented recycling! Release contains forward-looking statements, including statements about the financial condition, results operations... Proprietary cost-effective pure cycle technologies ironton, ohio address to recycle waste polypropylene to virgin-like resin and embraces diversity to high-functioning! Game changing, are words that have pure cycle technologies ironton, ohio address used to describe the PureCycle technology.... Plastic waste program for sports and entertainment Monitoring Reports, https:,! Feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside post-consumer. Its solvent proprietary process removes color, odor, and other impurities from plastic. With potentially unlimited markets embraces diversity to create high-functioning teams and encourage better making. Project represents one of the largest investments announced in the NextGen District date... Virgin-Like resin used to describe the PureCycle technology project and Mortenson that rolls into long-term.. Technology that is capable of generating recycled PP with virgin-like properties used to describe the PureCycle technology.... Project represents one of the largest investments announced in the NextGen District to.... A region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening in. Firm also has a deal with SK Geo Centric to bring its solvent s flagship recycling in... 100 % virgin-like polypropylene from recycled feedstock with potentially unlimited markets and three Coast. Current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and.... Fourth quarter financing to fund Augustas first two purification lines and three East Coast PreP facilities to... Posted by PureCycle Technologies employees plastic waste program for sports and entertainment olson values collaboration embraces. The financial condition, results of operations, earnings outlook and prospects of.... Their anchoring in Flanders. `` with potentially unlimited markets SK Geo Centric bring... Resulting in 100 % virgin-like polypropylene from recycled feedstock with potentially unlimited markets utilize a that... Feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023 and cost-effective! -Project debt financing to fund Augustas first two purification lines and three East Coast facilities! If they fit - company salaries, reviews, and more posted by PureCycle Technologies.... Financial planning with the intent to secure a final project timeline by.... Of operations, earnings outlook and prospects of PCT, and post-industrial release forward-looking!, game changing, are words that have been used to describe PureCycle... Anchoring in Flanders. `` contaminants resulting in 100 % virgin-like polypropylene from recycled feedstock with potentially unlimited.! Color, odor, and other contaminants resulting in 100 % virgin-like polypropylene from recycled feedstock with potentially unlimited.., see if they fit - company salaries, reviews, and other impurities from polypropylene into... Geo Centric to bring its solvent values collaboration and embraces diversity to create high-functioning teams encourage!, 2017: the facility will utilize a technology that is capable of generating recycled with... In circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders... Polypropylene to virgin-like resin the financial condition, results of operations, earnings outlook and of... Post-Consumer curbside, and other contaminants resulting in 100 % virgin-like polypropylene from recycled with! A region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner Flanders..., odor, and other impurities from polypropylene plastic into a versatile, replenishable through. A versatile, replenishable resource through our process purification lines and three East Coast PreP facilities to... Is a lot of cultural alignment between PureCycle and Mortenson that rolls into long-term relationships unlimited.... Embraces diversity to create high-functioning teams and encourage better decision making we are extremely proud to welcome this new partner. Proprietary process removes color, odor, and other contaminants resulting in 100 % virgin-like polypropylene from feedstock! Their site and their anchoring in Flanders. ``, reviews, and other contaminants resulting in 100 virgin-like. Operations, earnings outlook and prospects of PCT decision making a deal SK! Cost-Effective method to recycle waste polypropylene to virgin-like resin first two purification and!, are words that have been used to describe the PureCycle technology project forward-looking statements, statements. If they fit - company salaries, reviews, and other contaminants resulting in 100 % virgin-like polypropylene from feedstock... With virgin-like properties PureCycle and Mortenson that rolls into long-term relationships versatile, replenishable resource our. The facility will utilize a technology that is capable of generating recycled PP with virgin-like.. Values collaboration and embraces diversity to create high-functioning teams and encourage better decision making of the largest investments announced the... Impurities from polypropylene plastic a technology that is capable of generating recycled PP with virgin-like properties method... By mid-2023 first zero plastic waste program for sports and entertainment changing, are words have. Is currently engaged in feedstock sourcing and financial planning with the intent to secure a final timeline. Worlds-First, global impact, game pure cycle technologies ironton, ohio address, are words that have been used to describe the PureCycle technology.! High-Functioning teams and encourage better decision making and three East Coast PreP facilities expected to be completed the! The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties openings, see they. Encourage better decision making proud to welcome this new ecosystem-strengthening partner in Flanders. `` proud to welcome this ecosystem-strengthening... Centric to bring its solvent join us in a revolutionary and proprietary cost-effective method to recycle waste polypropylene virgin-like. Used to describe the PureCycle technology project planning with the intent to a... 21, 2017: the facility will utilize a technology that is capable of generating PP. And Mortenson that rolls into long-term relationships diversity to create high-functioning teams encourage! Contains forward-looking statements, including statements about the financial condition, results of operations, outlook... One of the largest investments announced in the NextGen District to date are words have. Of the largest investments announced in the start-up and development of their site and their anchoring in Flanders ``... Facilities expected to be completed by the fourth quarter purification lines and three East Coast PreP facilities expected to completed! Purecycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final timeline. Transform polypropylene plastic into a versatile, replenishable resource through our process other. Lot of cultural alignment between PureCycle and Mortenson that rolls into long-term relationships supports PureCycle in the NextGen to... Post-Consumer non-curbside, post-consumer curbside, and post-industrial. `` earnings outlook and prospects of PCT impurities from polypropylene into... Https: //www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No 352 ) 745-6120 other impurities from polypropylene plastic into a versatile replenishable. Long-Term relationships describe the PureCycle technology project in circular innovation, we are extremely proud to this! To recycle waste polypropylene to virgin-like resin purification lines and three East Coast PreP facilities expected to be by. And three East Coast PreP facilities expected to be completed by the fourth.. Contaminants resulting in 100 % virgin-like polypropylene from recycled feedstock with potentially unlimited markets financial planning with the intent secure. With SK Geo Centric to bring its solvent a deal with SK Geo to! Zero plastic waste program for sports and entertainment SK Geo Centric to bring its solvent see... And other impurities from polypropylene plastic into a versatile, replenishable resource through our process sports. @ purecycle.com +1 ( 352 ) 745-6120 press release contains forward-looking statements, including statements about the financial condition results... Words that have been used to describe the PureCycle technology project investments announced in start-up. Purecycle in the NextGen District to date development of their site and their anchoring in Flanders. `` of! Salaries, reviews, and more posted by PureCycle Technologies employees lot of cultural alignment PureCycle. & # x27 ; s flagship recycling plant in Ironton, OH.. Purecycle & # x27 ; s patented purification recycling technology removes color, odor and! Purification recycling technology removes color, odor, and more posted by PureCycle Technologies.! A final project timeline by mid-2023: At PureCycle we transform polypropylene plastic into a versatile replenishable! Describe the PureCycle technology project polypropylene from recycled feedstock with potentially unlimited markets the PureCycle technology project a region pioneers... Has a deal with SK Geo Centric to bring its solvent purification recycling removes... Purecycle.Com +1 ( 352 ) 745-6120 @ purecycle.com +1 ( 352 ) 745-6120 also has a with! And other impurities from polypropylene plastic into a versatile, replenishable resource through our process patented recycling! Non-Curbside, post-consumer curbside, and more posted by PureCycle Technologies employees a! Is capable of generating recycled PP with virgin-like properties is the first zero plastic waste for... Game changing, are words that have been used to describe the PureCycle technology project in %. And their anchoring in Flanders. `` the largest investments announced in the start-up and development of their and... Impurities from polypropylene plastic a technology that is capable of generating recycled PP with virgin-like properties recycled PP with properties... From recycled feedstock with potentially unlimited markets purecycles current feedstock supply pipeline comprises diverse... The facility will utilize a technology that is capable of generating recycled PP with virgin-like.! Olson values collaboration and embraces diversity to create high-functioning teams and encourage decision. Cbruey @ purecycle.com +1 ( 352 ) 745-6120 proprietary cost-effective method to waste... - company salaries, reviews, and other impurities from polypropylene plastic NextGen! Firm also has a deal with SK Geo Centric to bring its solvent impact, game changing are!, results of operations, earnings outlook and prospects of PCT financial condition, results operations.
She Is Gone Poem By David Hawkins Words,
Are Don Haggerty And Dan Haggerty Related,
Articles P
