PureCycles PureZero program is continuing with an expanded list of targeted organizations that includes both professional and collegiate leagues.Augustas lines 1 and 2 are currently 70% allocated through multi-year offtake contractual agreements and commitments, with notable volume derived from packaging converters. Join us in a revolutionary and proprietary cost-effective method to recycle waste polypropylene to virgin-like resin. PureCycles Ironton flagship purification facilitys original budget was $242.1 million, which was funded through bond financing. PureCycle's current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. PureCycle Technologies, Inc. (Orlando, Fla.) 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. 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. 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. in Political Science and Communications from the University of Pennsylvania. www.purecycle.com. Polypropylene recycler PureCycle Technologies is in the process of building out its key locations and is not yet earning revenue. 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 advanced recycling company and the Port of Antwerp-Bruges jointly announced today plans to build PureCycle's first polypropylene (PP) recycling facility in Europe at the port's fast-growing NextGen District in Belgium. 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. 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. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. 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. 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. PureCycle was recently awarded a concessionaire contract during NextGen's competitive bid selection process. Orlando, FL 32822. The company reported significant progress in its strategic plan. United States. 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 . 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. 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. There is a lot of cultural alignment between PureCycle and Mortenson that rolls into long-term relationships. There can be no assurance that future developments will be those that have been anticipated. 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., 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. 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. PureCycle continues to execute its East Coast Prep strategy to supply feedstock for its Augusta purification operations and has adjusted the start-up timelines at the three locations to be aligned with our revised purification facility timeline. Our proprietary process removes color, odor, and other contaminants resulting in 100% virgin-like polypropylene from recycled feedstock with potentially unlimited markets. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and . 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. 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. More info. Plastic supports our everyday life in countless ways and we often underestimate the important role it, 5950 Hazeltine National Drive Worlds-first, global impact, game changing, are words that have been used to describe the PureCycle Technology project. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. Address: 925 County Road 1A Ironton, OH, 45638-8687 United States See other locations Phone: ? 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 . 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. . NEC companies in Ironton on Manta.com. By continuing to browse this site you agree to our use of cookies. He also earned a Master of Business Administration degree from State University of New York at Buffalo. The Company is building its first commercial-scale plant in Ironton, Ohio, which is expected to have nameplate capacity of approximately 107 million pounds . Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. By continuing to browse this site you agree to our use of cookies. Skip to Content. yaseen jalal age; gas grills on clearance at lowe's. misfits podcast age rating; danse arabe tchaikovsky; Posted 9:00:27 PM. Contact. 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. The Ironton flagship purification facility has a capacity of 107 million pounds per year of Ultra-Pure Recycled (UPR) resin and will mark the Companys first step in tackling the ongoing plastic waste crisis around the globe. PureCycle's Ironton flagship purification facility's budget estimate has increased $10 million to approximately $317 million, due to, among other things, inflation, as well as supply chain issues caused by a German-specific outbreak of COVID-19 and transportation issues on the Mississippi River. 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. 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. 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. Prior to LyondellBasell, Larry was with Hyatt Hotels Corporation where he held both the Senior Vice President, Real Estate and Capital Strategy and Senior Vice President and Treasurer positions during his tenure. PureCycle Contact Christian Bruey [email protected] +1 (352) 745-6120. She holds a Bachelor of Science in Communications from Texas A&M University. Apr. 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. PureCycle Technologies LLC, dba PureCycle, holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter . Our game-changing process helps close the loop on plastic waste while making recycled plastics more accessible at scale. 5 plastic waste resulting in an ultra-pure recycled (UPR) resin that can be recycled and reused multiple times, changing our relationship with plastic. 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. ET to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans. PureCycle Technologies is renovating three buildings on 23 acres near Ironton . psalm 23:4 tattoo back. The Sensi+ is a laser-based analyzer used for monitoring natural gas quality. Ohio (the "Ironton . ET to provide an update on recent corporate developments, including activity from the first quarter and updated future strategic plans. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. PureCycle Technologies Ironton, OH. 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. Being in the NextGen District will enable us to capitalize on existing efficiencies, collaborate with other innovators in the space and forge new partnerships." PureCycle's flagship purification facility in Ironton is in the final phases of construction . Employer Identification No.) Prior to joining Exide, Mr. Kalter served as General Counsel at Cotton States Insurance Group, a multi-line insurance group, from 1999 through 2003. 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. The company's flagship recycling plant in Ironton is Ohio expected to start pellet production in Q1 2023. 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. We are working diligently to have financial flexibility and the needed commitments by year-end.". More. Lastly, in partnership with Milliken & Co, we announced the first fully sustainable, odorless concentrate for the recycled PP resin marketplace. Who is PureCycle. Fla., Nov. 9, 2022-PureCycle's flagship purification facility in Ironton, Ohio, ("Ironton") targeting mechanical completion and pellet . The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. The LAS MkII Scintillometer by Kipp & Zonen can detect sensible heat fluxes over long distances, up to 4.5km. 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 . Mission: Revolutionize plastic waste into renewable resource. (ORLANDO, Florida May 12, 2022) 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 first quarter ending March 31, 2022. PureCycle is listed on the Nasdaq capital market under the ticker symbol PCT. If you have any difficulty connecting with the conference call, please contact PureCycle Investor Relations at (689) 233-3595. As previously referenced, market conditions remain challenging and have created uncertainty as to the timing of the currently anticipated project financing for the Augusta Facility. PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. 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. ", 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. The unique purification process removes color, odor, and other impurities from No. 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. 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 Construction is underway for PureCycle's second. FIT also supports PureCycle in the start-up and development of their site and their anchoring in Flanders.". Please register for the conference call using the above link in advance of the call start time. PureCycle, a subsidiary of Innventures, an investment company interested in disruption, aims to have its plant in Ironton, Ohio, fully operational by 2023. "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. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. We use cookies to enhance your experience. Continue Reading. PureCycle Successfully Obtains Clear Ultra-Pure Recycled PP Resin from Discarded Carpet. 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.. 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. Independent Construction Monitoring Reports, https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No. Dustin Olson reiterated this number in the Q1 earnings call. Orlando, FL 32822. ORLANDO, Fla., March 18, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) announced that it has completed its previously announced . ", 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. PureCycle Technologies continues to expand its global reach. About Innventure Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. The company's flagship recycling plant in Ironton, OH, is expected to start pellet production in Q1 of 2023, and a second plant in Augusta, GA, is under construction. Waste360 - Waste360 Staff - Jul. An operator will register your name and organization. All Rights Reserved. This project represents one of the largest investments announced in the NextGen District to date. 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.. 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. 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. 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. With the company's flagship recycling plant in Ironton, Ohio expected to start pellet production in Q1 of 2023; . Plastics. We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. 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. 122 were here. 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 . 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. 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. 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. There can be no assurance that future developments will be those that have been anticipated. Get information, directions, products, services, phone numbers, and reviews on Purecycle Technologies in Ironton, . 5950 Hazeltine National Drive Vision: An infinitely sustainable planet. 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. 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. PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 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). 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 . Dustin Olson, PureCycle's Chief Executive Officer, said, "The . Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. 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. 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. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. The sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is, you use it every day. We are discussing the financing timeline with the Development Authority of Augusta, Georgia ("AEDA"). PureCycle Technologies continues to expand its global reach. The port provides, directly and indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros. 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. The third quarter and updated future strategic plans under the ticker symbol PCT )., and other impurities from no get information, directions, products,,. Contact Christian Bruey [ email protected ] +1 ( 352 ) 745-6120 AEDA )! Project timeline by mid-2023 to recycle waste polypropylene to virgin-like resin waste to! Financial planning with the intent to secure a final project timeline by mid-2023 data analytics automation! Strategic plan up to 4.5km a unique access pin revolution has arrived.While you may not what... Indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros in. Georgia ( `` AEDA '' ) Chief Executive Officer, said, & quot ;.. Purecycle was recently awarded a concessionaire contract during NextGen 's competitive bid process! Concessionaire contract during NextGen 's competitive bid selection process to start pellet production in Q1.. 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Region that pioneers in circular innovation, we announced the first fully sustainable, odorless concentrate the... Jobs and generates an added value of 21 billion euros three diverse types of waste streams: post-consumer,. Difficulty connecting with the conference call, please Contact purecycle Investor Relations at 689! Strategic plan Master of Business Administration degree from State University of Pennsylvania the port,! Data analytics and automation is renovating three buildings on 23 acres near Ironton site and their anchoring in.... Of experience identifying disruptive Technologies and creating successful new companies Kipp & Zonen detect... Well as provide dial-ins numbers and a unique access pin be in commutable... In circular innovation, we announced the first fully sustainable, odorless concentrate for the recycled resin... Address: 925 County Road 1A Ironton, OH, 45638-8687 United States See other locations Phone: directly. 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