The forward-looking statements are based on the current expectations of the management of PCT and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. This project was the culmination of many facets of economic development . PureCycle's flagship purification facility in Ironton, Ohio, remains on schedule targeting mechanical completion in early fourth quarter 2022 and expected pellet production by year-end 2022.; Construction is underway for PureCycle's second purification facility, the first multi-line purification facility in Augusta, Georgia, with Phase 1 (260 million pounds capacity) on track for startup in . Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and operationalizing a proprietary process that creates near virgin quality polypropylene from recycled feedstock. All Rights Reserved. A Florida company is setting up shop in Lawrence County, Ohio, investing $360million in a plastics recycling facility. The PureCycle Technologies Feedstock Evaluation Unit construction is under way! Previous to PureCycle, she worked as a Senior Consultant both in an independent capacity and for major consulting firms in the plastics recycling space, focusing on strategy and implementation to advancements in process, primarily in polyolefins. 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 . It also has released financial results for the third quarter ending Sept. 30. Toll-Free: 877-648-3565. ", 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. 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. . 2023 PureCycle Technologies. 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 . 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.. PureCycle has placed key long lead orders including vessels, precision machinery and instrumentation. Skip to Content. 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. Our Augusta purification facility build-out is underway and remains on track for startup in the fourth quarter of 2023. NextGen District is a global hub for businesses seeking to advance the circular economy. 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. 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. 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. yaseen jalal age; gas grills on clearance at lowe's. misfits podcast age rating; danse arabe tchaikovsky; 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. We are discussing the financing timeline with the Development Authority of Augusta, Georgia ("AEDA"). It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. We use cookies to enhance your experience. Ohio, 45638. Using our ground-breaking patented recycling process, we separate color, odor, and impurities from plastic waste feedstock to transform it into ultra-pure recycled (UPR) resin.PureCycle converts polypropylene plastic waste (designated as No.5 plastic) into like-new plastic. . Currently, all our construction modules are set, and we anticipate reaching mechanical completion and pellet production in the first quarter of 2023. The Company continues to move forward on engineering and construction activities at its planned multi-line purification facility in Augusta, Georgia. PureCycle is listed on the Nasdaq capital market under the ticker symbol PCT. NEC companies in Ironton on Manta.com. PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. 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. PureCycle is nearing startup of the company's first plant in Ironton, Ohio, and has plans for a second facility in Augusta, Ga. PureCycle Ohio1125 County Road 1AIronton, OH 45638, 12:00 - 3:00 PM ESTLunch & entertainment will be provided, JW Marriot, Grand Lakes4040 Central Florida PkwyOrlando, FL 32837, 6:00 - 9:00 PM ESTDinner & entertainment will be provided. Independent Construction Monitoring Reports, https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No. 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. 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. "Worlds-first", "global impact", "game changing", are words that have been used to describe the PureCycle Technology project. 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. By combining alternative waste streams and utilizing the Companys Born Digital strategy, PureCycle aims to develop resins with targeted specifications, broadening the end case use for PureCycles UPR resin. The facility, which is being built as part of Procter & Gamble . The new plant is expected to have an annual capacity of . As a result of the financing not closing by June 30, 2022, on October 5, 2022, the Company and the AEDA executed an agreement that permits the AEDA to terminate the MOU should the Company fail to obtain financing by December 31, 2022. Process feedstock at 15,144 lbs per hour. The Vocus CI-TOF from TOFWERK provides real-time chemical ionization measurements. IRONTON PureCycle Technologies LLC, in collaboration with Jobs Ohio, Ohio Southeast Economic Development and Southern Ohio Port Authority, announced Monday plans to invest $363 million in the . in Political Science and Communications from the University of Pennsylvania. ORLANDO, Fla., Nov. 9, 2022 /PRNewswire/ -- PureCycle Technologies, Inc. ("PureCycle" or "the Company") (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today announced a corporate update and financial results for the third quarter ending September 30, 2022. PureCycle obtains license from Procter & Gamble to commercialize patent recycling technology. 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. She holds a Bachelor of Science in Communications from Texas A&M University. Waste360 - Waste360 Staff - Jul. PureCycle Contact Christian Bruey [email protected] +1 (352) 745-6120. A replay of the conference call will be available after 2:00 p.m. Eastern time on the same day through November 10, 2023. 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. PureCycle Technologies continues to expand its global reach. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. PureCycle's patented purification recycling technology removes color, odor, and other impurities from polypropylene plastic. There can be no assurance that future developments will be those that have been anticipated. 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. All Rights Reserved. Sector:Environmental and Facilities Services, NAICS:Custom Compounding of Purchased Resins (325991), SIC:Refuse Systems (4953); Scrap and Waste Materials (5093), Investor Relations Charles W. Place T: 407-212-0139 cplace@purecycle.com, Company Contact 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. (740) 532-9096. The company reported significant progress in its strategic plan. 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. ET to provide an update on recent corporate developments, including activity from the first quarter and updated future strategic plans. 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. 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. 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. Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. 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. 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 . The Company has also begun an evaluation of alternative sites in Central Florida. 5950 Hazeltine National Drive 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. PureCycle Technologies LLC. The company's flagship recycling plant in Ironton is Ohio expected to start pellet production in Q1 2023. 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 had $233.3 million in debt and accrued interest, less $16.3 million of discount and issuance costs as of September 30, 2022. The first step of the facilitys construction is to build a feedstock evaluation unit, and the second step is to develop a commercial-scale PureCycle facility. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. 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. 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. Construction of the plant is expected to begin upon completion of the permitting process, which is currently anticipated in 2024. We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. The Ironton purification facility will have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled ("UPR") resin. 21, 2017: The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. By continuing to browse this site you agree to our use of cookies. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. This process fully closes the loop on the reuse of recycled . PureCycle's Ironton, OH Facility is on Track to Start Producing Pellets Q1 2023 ORLANDO, Fla. , Dec. 19, 2022 /PRNewswire/ -- PureCycle Technologies ' (NASDAQ: PCT) Munich-based partner KraussMaffei . The Company responded, disputing the claims or the party's right to terminate the agreement. There can be no assurance that future developments will be those that have been anticipated. There is a lot of cultural alignment between PureCycle and Mortenson that rolls into long-term relationships. 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. The Company currently expects to exceed the original budget by $55 - $65 million due to increased investments as well as growing inflationary pressures. 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. 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. To learn more, visit purecycletech.com. -Finalized its Joint Venture Agreement with SK geo centric to develop a purification facility in Ulsan, South Korea. 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. Suite 300, A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in ultra-pure polypropylene suitable for any PP market. 1125 County Road 1A Ironton OH 45638. The supplemental positions include the vice president of finance and senior director of revenue.Feedstock and Commercial UpdatePureCycle has continued to advance the feedstock procurement pipeline, with approximately 215 million pounds of polypropylene under LOI, to supply the first two lines of the Companys Augustas purification facility. Consumer demand, combined with major multinational sustainability commitments, reinforced by new stringent recycled content restrictions and non-recycled plastic taxes, have led to substantial interest in, and demand for, PureCycles UPR resin. The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led . 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. ORLANDO, Fla.--(BUSINESS WIRE)-- PureCycle Technologies LLC ("PureCycle") announced today it has completed the bond financing required to build . All rights reserved. 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 is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. PureCycles current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. Our proprietary process removes color, odor, and other contaminants resulting in 100% virgin-like polypropylene from recycled feedstock with potentially unlimited markets. PureCycle . 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. 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. 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. We continue to expand our feedstock supply network highlighted by significant progress on our first two lines in Augusta, while the successful commercial market progress of our team is visible through the full allocation of Ironton and 70% allocation of the first two lines in Augusta through multi-year commitments., PureCycle remains steadfast in our mission to advance the sustainable plastic revolution through our unique purification process. is the first zero plastic waste program for sports and entertainment. 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, 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 . An operator will register your name and organization. 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. ", 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 LAS MkII Scintillometer by Kipp & Zonen can detect sensible heat fluxes over long distances, up to 4.5km. 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. Continues to move forward on engineering and construction activities to commence in the quarter. ), pure cycle technologies ironton, ohio address family-based investment firm led recent corporate developments, including activity from the of... 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