PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. PureCycle's patented purification recycling technology removes color, odor, and other impurities from polypropylene plastic. www.purecycle.com, Investor Relations Contact:Charles Placecplace@purecycle.com689.233.3595, Media Contact:Adrianna Sekulaasekula@purecycle.com407.697.1201, View original content to download multimedia:https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html. is the first zero plastic waste program for sports and entertainment. Visit Website Request Information/Quote Download PDF Copy. Dustin Olson reiterated this number in the Q1 earnings call. 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 . 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. Prior to joining Exide, Mr. Kalter served as General Counsel at Cotton States Insurance Group, a multi-line insurance group, from 1999 through 2003. 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. PureCycle Technologies, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 001-40234 86-2293091 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. 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. To learn more, visit purecycle.com. In 2021, Olson was honored by the Missouri University of Science and Technology as a new inductee to the Academy of Chemical Engineers. PureCycle is nearing startup of the company's first plant in Ironton, Ohio, and has plans for a second facility in Augusta, Ga. We enable the use of recycled content in your applications without trade-offs. Feedstock discussions remain on track with 75% of lines 1 & 2 under letters of intent (LOIs).PureCycle added top industry leaders to its Board of Directors with the appointments of Steven Bouck and Allen Jacoby as independent directors, effective March 15, 2022. PureCycle is expanding globally and actively scaling its production capabilities. Claim this business. The Company has also begun an evaluation of alternative sites in Central Florida. The sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is, you use it every day. PureCycle Technologies, 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 operations in the future since the 14-hectare . Dec. 21IRONTON PureCycle: Ohio LLC received the Ohio Southeast Economic Development (OhioSE) Best Project of 2020 Award during their Annual Meeting held virtually in May of this year. We use cookies to enhance your experience. PureCycle aims to have its Ironton, Ohio, facility for producing what it calls "ultra-pure recycled polypropylene" running by the first quarter of 2023. . 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. Continue Reading. -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. 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. A ground-breaking process that recycles waste plastic into a sustainable ultra-pure resin. PureCycle . It hopes to ingest enough polypropylene so that it can output 107 million pounds of what's called "Ultra-Pure Recycled" resin. 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. 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. 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. PureCycle Technologies' process offers the only recycled polypropylene with properties equal to virgin polymer. Contact. PureCycle Technologies' shares are trading at $6.30 per piece at the time of this writing, giving it a market cap of $1.11 billion. Independent Construction Monitoring Reports, https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No. The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822
ET to provide an update on recent corporate developments, including activity from the first quarter and updated future strategic plans. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. PureCycle Technologies process offers the only recycled polypropylene with properties equal to virgin polymer. The Company had total liquidity of $609.9 million including $418.0 million of cash, cash equivalents and debt securities available for sale and $191.9 million in restricted cash. PureCycle continues to progress negotiations on the remaining 30% of available volume. 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. PureCycle Technologies Provides Third Quarter 2022 Update . PureCycles Ironton flagship purification facilitys original budget was $242.1 million, which was funded through bond financing. 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. 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. Posted 9:00:27 PM. 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. PureCycle Technologies LLC. "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. By Staff Reports. The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led . 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. This project was the culmination of many facets of economic development . 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. 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, . 2023 PureCycle Technologies. 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. Continue Reading. PureCycle ContactChristian Brueycbruey@purecycle.com+1 (352) 745-6120, Port of Antwerp-Bruges Contactpress@portofantwerpbruges.com+32 492 15 41 39, With an overall throughput of 289 million tonnes per year, Port of Antwerp-Bruges is a critical hub in worldwide trade and industry. 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 converts polypropylene plastic waste (designated as No.5 plastic) into like-new plastic. The investment is a part of PureCycle's strategic expansion into the United States to . 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. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. 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. All Rights Reserved. If you have any difficulty connecting with the conference call, please contact PureCycle Investor Relations at (689) 233-3595. Who is PureCycle. Our game-changing process helps close the loop on plastic waste while making recycled plastics more accessible at scale. 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. We are working diligently to have financial flexibility and the needed commitments by year-end.". (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. 5 plastic) into a continuously renewable resource. 2 PureCycle Technologies jobs in Ironton, OH. Port of Antwerp-Bruges Contact [email protected] +32 492 15 41 39. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. 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. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. 1125 County Road 1A Ironton OH 45638. Port of Antwerp-Bruges is home to 1,400 companies and accommodates the largest integrated chemical cluster in Europe. The unique purification process removes color, odor, and other impurities from No. 21, 2017The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. All Rights Reserved. 9 Best Places to Work by Plastics News. Mortenson spent time learning what our needs were so that we could drive results. 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. 5950 Hazeltine National Drive According to company press release, the Ironton, Ohio manufacturing plant remains on schedule and is expected to be completed in fourth quarter of 2022. Ohio (the "Ironton . Construction of the plant is expected to begin upon completion of the permitting process, which is currently anticipated in 2024. 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 . PureCycle is already in active negotiations with potential feedstock and offtake partners and expects to commence commercial operations at its new European facility when construction of the first processing line is completed. The unique purification process is designed to remove color, odor, and other impurities from No. NextGen District is a global hub for businesses seeking to advance the circular economy. The construction site is now energized and 4 out of the 26 modules have been delivered and lifted into place. 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. We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. Achieve a ~90% yield on feedstock that is at least 93.3% pure. PureCycle Technologies is renovating three buildings on 23 acres near Ironton . 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 . The Ironton purification facility will have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled ("UPR") resin. 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. Join us in a revolutionary and proprietary cost-effective method to recycle waste polypropylene to virgin-like resin. The firm also has a deal with SK Geo Centric to bring its solvent . Our proprietary process removes color, odor, and other contaminants - resulting in 100% virgin-like . The Vocus CI-TOF from TOFWERK provides real-time chemical ionization measurements. 122 were here. PureCycle Technologies LLC, dba PureCycle, holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter . PureCycle Successfully Obtains Clear Ultra-Pure Recycled PP Resin from Discarded Carpet. 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. The facility, which is being built as part of Procter & Gamble . ET to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and . Olson joined PureCycle in 2021 as Chief Manufacturing Officer and was promoted to Chief Operating Officer in early 2022. Search job openings, see if they fit - company salaries, reviews, and more posted by PureCycle Technologies employees. Larry has Bachelor of Science degree in mechanical engineering as well as a Master of Engineering degree in engineering management from Cornell University. 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. ", 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. PureCycle: Ohio LLC in Ironton, Lawrence County was honored in recognition of an outstanding investment and job creation project. PureCycle Technologies continues to expand its global reach. Feedstock and Commercial UpdatePureCycle has continued to advance the feedstock procurement pipeline, with approximately 301 million pounds of polypropylene waste under Letter of Intent (LOI), to fully supply the first two lines of the Company's Augusta's purification facility. 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 Technologies continues to expand its global reach. PureCycle remains steadfast in its mission to advance the sustainable plastic revolution on a global basis through its unique purification process. 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 . 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. Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. His breadth of experience creates a unique cross-functional and cross-cultural perspective to draw alignment between diverse viewpoints. The district is located at the Port of Antwerp-Bruges, Europe's second largest seaport. Polypropylene recycler PureCycle Technologies is in the process of building out its key locations and is not yet earning revenue. -Closed on offtake agreements representing 106.0 million pounds of ultra-pure recycled ("UPR") resin bringing total signed offtake agreements to 111% of nameplate capacity for Augusta lines 1 and 2. Since our last corporate update we executed a joint venture agreement ("JVA")with SK geo centric for the development of a polypropylene purification facility in Ulsan, South Korea. 5 plastic waste resulting in an ultra-pure recycled (UPR) resin that can be recycled and reused multiple times, changing our relationship with plastic. 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. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. About Innventure Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. A second plant in Augusta, Georgia is under initial construction, and its first PP recycling plant in Asia is on track to open in 2025. 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. 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. This process fully closes the loop on the reuse of recycled . With the company's flagship recycling plant in Ironton, Ohio expected to start pellet production in Q1 of 2023; . The forward-looking statements are based on the current expectations of the management of PureCycle and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. 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