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. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. He strongly supports numerous educational endeavors as a Board Member for the Industrial Advisor Counsel at the University of Missouri-Rolla Department of Chemical Engineering (2009-12), the Rice University Jones School Alumni (2010-13), and the Steeleville High School Foundation (current). The 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. 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. -PureCycle's flagship purification facility in Ironton, Ohio, ("Ironton") targeting mechanical completion and pellet production in the first quarter of 2023. Mortenson spent time learning what our needs were so that we could drive results. 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 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. Jeff Kramer, PureCycle's Ironton plant manager, left, receives an award on behalf of the company from Katie Farber, vice president of Ohio Southeast, part of Jobs Ohio. PureCycle Technologies Inc., Orlando, Florida, has announced a corporate update for several projects, including its plant in Ironton, Ohio, and facilities in Augusta, Georgia. 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's patented purification recycling technology removes color, odor, and other impurities from polypropylene plastic. 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. 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. Polypropylene recycler PureCycle Technologies is in the process of building out its key locations and is not yet earning revenue. 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. Suite 300, "Worlds-first", "global impact", "game changing", are words that have been used to describe the PureCycle Technology project. An operator will register your name and organization. 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. PureCycle Technologies (NASDAQ: PCT) . 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. We're thrilled to be partnering with PureCycle on this strategic project to help bring that vision to life.". He also earned a Master of Business Administration degree from State University of New York at Buffalo. 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. 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. pure cycle technologies ironton, ohio address. PureCycle Technologies Inc., Orlando, Florida, has released a corporate update on operations and company expansions for the second quarter ending June 30. 1125 County Road 1A, Ironton. psalm 23:4 tattoo back. 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. Orlando, FL 32822. We believe the market's continuing interest in PureCycle's UPR resin is demonstrated through the acceptance of the Feedstock + pricing mechanism and the compilation of offtake agreements accumulated for both Ironton and Augusta operations. 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. The port provides, directly and indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros. (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 StatementsThis press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. Posted 9:00:27 PM. Search job openings, see if they fit - company salaries, reviews, and more posted by PureCycle Technologies employees. 122 were here. Ironton, Ohio at PureCycle Technologies . PureCycle Technologies process offers the only recycled polypropylene with properties equal to virgin polymer. 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. The company reported significant progress in its strategic plan. is the first zero plastic waste program for sports and entertainment. PureCycle is expanding globally and actively scaling its production capabilities. 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. 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. It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. PureCycle is nearing startup of the company's first plant in Ironton, Ohio, and has plans for a second facility in Augusta, Ga. 9 Best Places to Work by Plastics News. PureCycle: Ohio LLC in Ironton, Lawrence County was honored in recognition of an outstanding investment and job creation project. To learn more, visit purecycle.com. This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. PureCycle's purification technology is a game changer within the circular economy and will have a major impact on making plastics - and pre-eminently the chemical cluster around the Port of Antwerp-Bruges - even more sustainable. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. 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. It also has released financial results for the third quarter ending Sept. 30. A ground-breaking process that recycles waste plastic into a sustainable ultra-pure resin. The district is located at the Port of Antwerp-Bruges, Europe's second largest seaport. 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 . Worlds-first, global impact, game changing, are words that have been used to describe the PureCycle Technology project. Except to the extent required by applicable law or regulation, PureCycle undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. 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. 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. Independent Construction Monitoring Reports, https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No. 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. By continuing to browse this site you agree to our use of cookies. Address. The company's flagship recycling plant in Ironton is Ohio expected to start pellet production in Q1 2023. Lastly, in partnership with Milliken & Co, we announced the first fully sustainable, odorless concentrate for the recycled PP resin marketplace. About PureCycle TechnologiesPureCycle 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. NEC companies in Ironton on Manta.com. 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. 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. PureCycle Technologies Provides First Quarter 2022 Update. 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. Export and investment promotion agency Flanders Investment & Trade played a leading role in this investment dossier through teams in the US and in Flanders. The unique purification process removes color, odor, and other impurities from No. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. PureCycle, a subsidiary of Innventures, an investment company interested in disruption, aims to have its plant in Ironton, Ohio, fully operational by 2023. . 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 recently filed securities class action case; the ability to recognize the anticipated benefits of the previously announced business combination consummated on March 17, 2021; unexpected costs related to the business combination; 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; changes in the prices and availability of labor (including labor shortages), transportation and materials, including significant inflation, and PCT's ability to obtain them in a timely and cost-effective manner; 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, and local, state, federal and international responses to addressing the pandemic may have an adverse effect on PCT's business operations, as well as PCT's financial condition and results of operations. The unique purification process removes color, odor, and other impurities from No. 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. -Financing to fund Augusta's first two purification lines and three East Coast preprocessing ("PreP") facilities targeted for completion by year-end with PureCycle evaluating scenarios with the objective of maintaining optionality in its capital structure as it moves to operational revenue in 2023. There can be no assurance that future developments will be those that have been anticipated. A ground-breaking process that recycles waste plastic into a sustainable ultra-pure resin. We are excited to bring our Ultra-Pure Recycled . 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. 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. 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. 2022 M. A. Mortenson Company. The advanced recycling company and the Port of Antwerp-Bruges today jointly announced . To browse this site you agree to our use of cookies expanding globally and actively scaling its capabilities... 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