In 2021, Olson was honored by the Missouri University of Science and Technology as a new inductee to the Academy of Chemical Engineers. 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. 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. 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. 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. 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. Mr. Coombs previously worked for, Company Releases Inaugural ESG Report with Preliminary LCA Data ORLANDO, Fla. May 18, 2022 Today, PureCycle Technologies, Inc. (Nasdaq: PCT) released its inaugural Environmental, Social, and Governance (ESG) Report, 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 Construction is underway for PureCycles second, ORLANDO, Fla. April 27, 2022 PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, will host a conference call on Thursday, May 12, 2022, to provide, Aptar and PureCycle are working to determine the right material combination to create hinged closures for food, beverage and cosmetics applications made with UPR. Fla., Nov. 9, 2022-PureCycle's flagship purification facility in Ironton, Ohio, ("Ironton") targeting mechanical completion and pellet . We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. 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. KraussMaffei Delivers Final Extruder for PureCycle's Flagship Purification Plant Ahead of Schedule. 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. "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. PureCycle . Waste360 - Waste360 Staff - Jul. 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 had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. PureCycle Contact Christian Bruey [email protected] +1 (352) 745-6120. 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. 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. 5950 Hazeltine National Drive ET to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans. PureCycle's Ironton flagship purification facility's original . 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. . 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. We use cookies to enhance your experience. 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.. The Company currently expects to exceed the original budget by $55 - $65 million due to increased investments as well as growing inflationary pressures. Who is PureCycle. 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. Export and investment promotion agency Flanders Investment & Trade played a leading role in this investment dossier through teams in the US and in Flanders. 2022 M. A. Mortenson Company. ET to provide an update on recent corporate developments, including activity from the first quarter and updated future strategic plans. 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. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. Orlando, FL 32822. The PureCycle Technologies Feedstock Evaluation Unit construction is under way! 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. . 2 PureCycle Technologies jobs in Ironton, OH. Pure Cycle Environmental LLC. 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. Please note there will no longer be a telephonic replay. NextGen District is a global hub for businesses seeking to advance the circular economy. Following on from the Greener Manufacturing Show, AZoCleantech speaks withChristophe Williams,CEO and co-founder of Naked Energy, about the company and its mission to change energy for goodby acceleratingthe transition to net zero carbon. 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. PureCycle Technologies process offers the only recycled polypropylene with properties equal to virgin polymer. Operational Update Pure Cycles flagship purification facility in Ironton, Ohio remains on track with mechanical completion expected in early fourth quarter 2022 followed by initial pellet production by year- end. Continue Reading. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. 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. More info. 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. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. Orlando, FL 32822. 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 . PureCycle's current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. 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. It hopes to ingest enough polypropylene so that it can output 107 million pounds of what's called "Ultra-Pure Recycled" resin. About Port of Antwerp-Bruges . The new plant is expected to have an annual capacity of . 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 . SEATTLE (Scrap Monster): PureCycle Technologies announced corporate update of operations and financial results for third quarter 2021. (740) 532-9096. The Company continues to work with local officials in Central Florida in an effort to remedy issues related to obtaining the necessary water and sewer permits to construct its current PreP site. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. 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. 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. With 50 years of combined experience, these additions to the PureCycles leadership team will be instrumental in advancing the Companys mission and business objectives. ", 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. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. is the first zero plastic waste program for sports and entertainment. While we continue to work to complete the project financing for the Augusta Facility, we also remain focused on cost management and project execution excellence to mitigate the impact to our timeline. 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 . PureCycle obtains license from Procter & Gamble to commercialize patent recycling technology. PureCycle Technologies partners with Milliken, Nestl to accelerate revolutionary plastics recycling. We're thrilled to be partnering with PureCycle on this strategic project to help bring that vision to life.". ET, Aptar and PureCycle Achieve Testing Milestone with Ultra-Pure Recycled Plastic, PureCycle Named No. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. By continuing to browse this site you agree to our use of cookies. Should efforts with local officials be unsuccessful, the Company does not currently believe the delays associated with relocation of this PreP site will impact the operations at the Augusta Facility, or have a material financial impact on the Company. 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 company reported significant progress in its strategic plan. CHICAGO, March 13, 2019 PureCycle Technologies, is announcing it has partnered with global industrial manufacturer, Milliken & Company, and the world's largest food and beverage company, Nestl S.A., as. According to company press release, the Ironton, Ohio manufacturing plant remains on schedule and is expected to be completed in fourth quarter of 2022. In addition, PureCycle has completed its Ironton PreP build out and is currently in commissioning and processing feedstock onsite. The Company will hold a conference call today at 11:00 a.m. 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. 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. 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. PureCycle had $233.3 million in debt and accrued interest, less $16.3 million of discount and issuance costs as of September 30, 2022. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. To learn more, visit purecycle.com. -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. 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. 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 Polypropylene recycler PureCycle Technologies is in the process of building out its key locations and is not yet earning revenue. 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. Mr. Kalter previously served as Vice President, Deputy General Counsel and Corporate Secretary at Exide from 2009 to September 2015 and also as Exides Deputy General Counsel and Corporate Secretary from 2006 to 2008. All Rights Reserved. PureCycle aims to have its Ironton, Ohio, facility for producing what it calls "ultra-pure recycled polypropylene" running by the first quarter of 2023. . The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in ultra-pure polypropylene suitable for any PP market. What are the Future Prospects of the Green Hydrogen Market? 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. Employer Identification No.) We are discussing the financing timeline with the Development Authority of Augusta, Georgia ("AEDA"). PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 Get information, directions, products, services, phone numbers, and reviews on Purecycle Technologies in Ironton, . 28, 2022 PureCycle Technologies, Inc. (Nasdaq: PCT) and the Jacksonville Jaguars are teaming up to help divert over half a million pieces of plastic waste at, ORLANDOJune 1, 2022 Today, PureCycle Technologies, Inc. (NASDAQ: PCT) announced the appointment of a new member to its Board of Directors, Daniel M. Coombs. Currently, all our construction modules are set, and we anticipate reaching mechanical completion and pellet production in the first quarter of 2023. The port provides, directly and indirectly, a total of around 164,000 jobs and generates an added value of 21 billion euros. Ticker NASDAQ: . Mortenson also completed alternative site reviews and guided PureCycle through developing a strategic approach to maximize both state and local incentives to overcome challenges with available utilities, in turn making the preselected site feasible. This process fully closes the loop on the reuse of recycled . 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. 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. Owned and operated by AZoNetwork, 2000-2023, Testing the Potential of Space-Based Solar Power, Transforming Stranded Mines into Batteries, Quantifying Exxons Decades-old Climate Science Knowledge, Climate Change Could Spell Disaster for Worlds Oceans, Safe, Fast-Charging Battery Overcomes Previous Limitations, Monitoring Natural Gas Quality with the Sensi+, ABB Measurement & Analytics - Analytical Measurement Products, The Environmental Benefits of Solid-State Batteries, How Raw Material Cost Increases are Challenging Electric Vehicle Production, The Biggest Clean Technology Developments in 2022. 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. This process fully closes the loop on the reuse of recycled plastics while making recycled polypropylene more accessible at scale to companies desiring to use a sustainable, recycled resin. The unique purification process removes color, odor, and other impurities from No. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. Recently, Aptar converted prototype material from, Dan Holloway, PureCycles vice president of human resources and administration and Brandwyn Bee Frye, PureCycles human resources manager accept the Best Places to Work award from Plastics News on behalf, 5950 Hazeltine National Drive 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. The Company has also begun an evaluation of alternative sites in Central Florida. 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. 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. PureCycle Technologies Inc., Orlando, Florida, has announced a corporate update for several projects, including its plant in Ironton, Ohio, and facilities in Augusta, Georgia. If you have any difficulty connecting with the conference call, please contact PureCycle Investor Relations at (689) 233-3595. 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 unique purification process is designed to remove color, odor, and other impurities from No. 5950 Hazeltine National Drive, Suite 300, Orlando Florida 32822 (Address of Principal Executive Offices) (Zip Code) Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. Action: At PureCycle we transform polypropylene plastic into a versatile, replenishable resource through our process. Claim this business. 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 plot can support up to four processing lines with an anticipated total capacity of approximately 240,000 metric tons (500 million pounds) per year (in total for all four processing lines). 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 . 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. Larry has Bachelor of Science degree in mechanical engineering as well as a Master of Engineering degree in engineering management from Cornell University. Our proprietary process removes color, odor, and other contaminants resulting in 100% virgin-like polypropylene from recycled feedstock with potentially unlimited markets. PureCycle's first purification facility in Ironton, Ohio will be complete. Various funding options are currently being considered, including traditional financing sources as well as grants/subsidies for circular projects that are uniquely available in the EU. Independent Construction Monitoring Reports, 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, PureCycle Named No. Construction of the plant is expected to begin upon completion of the permitting process, which is currently anticipated in 2024. 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 obtains license from Procter & Gamble to commercialize patent recycling Technology 2021, Olson was honored by Missouri... 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