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. 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. PureCycle Contact Christian Bruey cbruey@purecycle.com +1 (352) 745-6120. Address: 925 County Road 1A Ironton, OH, 45638-8687 United States See other locations Phone: ? The facility, which is being built as part of Procter & Gamble . 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. PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. 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. From October 2015 to February 2019, Mr. Kalter served as Executive Vice President, General Counsel and Corporate Secretary of Exide Technologies (Exide), a battery manufacturing and energy storage business, overseeing global legal from 2015 to February 2019. PureCycle: Ohio LLC in Ironton, Lawrence County was honored in recognition of an outstanding investment and job creation project. The Company continues to focus on securing feed for the remaining feedstock capacity and is actively targeting feed streams that are currently being landfilled or incinerated. The investment is a part of PureCycle's strategic expansion into the United States to . 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. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. pure cycle technologies ironton, ohio address french a1 grammar pdf $ 0.00. The new polypropylene purification plant will not only supply the European market with PureCycle's UPR resin but is also expected to create 65-70 new jobs for local residents during the initial phase of the project. 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 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). All rights reserved. 1125 County Road 1A Ironton OH 45638. 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 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. 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. As Ironton and Augusta projects progress, the Companys current sales cycle continues to shorten. Please register for the conference call using the above link in advance of the call start time. 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. 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's flagship purification facility in Ironton, Ohio, ("Ironton") targeting mechanical completion and pellet production in the first quarter of 2023. 5950 Hazeltine National Drive, Suite 300, Orlando Florida 32822 (Address of Principal Executive Offices) (Zip Code) Orlando, FL 32822. Website. Prior to joining Exide, Mr. Kalter served as General Counsel at Cotton States Insurance Group, a multi-line insurance group, from 1999 through 2003. 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. There is a lot of cultural alignment between PureCycle and Mortenson that rolls into long-term relationships. All Rights Reserved. Ironton, OH 45638 (740) 532-9096 Get Directions Similar Businesses . 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. 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. 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. ET to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans. (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. It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. (740) 532-9096. 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. 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. Construction of the plant is expected to begin upon completion of the permitting process, which is currently anticipated in 2024. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. 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. Ironton, Ohio at PureCycle Technologies . The Company currently expects to exceed the original budget by $55 - $65 million due to increased investments as well as growing inflationary pressures. "Worlds-first", "global impact", "game changing", are words that have been used to describe the PureCycle Technology project. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. The stock price is 21.7% below the long-term trend of the 200 . 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. Third Quarter 2022 Conference Call Details. 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. NAICS Code 32,325. PureCycle obtains license from Procter & Gamble to commercialize patent recycling technology. PureCycle has placed key long lead orders including vessels, precision machinery and instrumentation. 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. www.purecycle.com. 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. Suite 300, 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. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. 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. The unique purification process is designed to remove color, odor, and other impurities from No. The advanced recycling company and the Port of Antwerp-Bruges today jointly announced . About Port of Antwerp-Bruges . Orlando, FL 32822. 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. 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. The PureCycle Technologies Feedstock Evaluation Unit construction is under way! 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. PureCycle Successfully Obtains Clear Ultra-Pure Recycled PP Resin from Discarded Carpet. 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. 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. There can be no assurance that future developments will be those that have been anticipated. Ahead of The Greener Manufacturing Show in Cologne on the 9th and 10th of November 2022, AZoCleanTech spoke with Peter Sarno, event director of the show, about the push for sustainable industrial solutions. PureCycle continues to progress negotiations on the remaining 30% of available volume. Mission: Revolutionize plastic waste into renewable resource. 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. Port of Antwerp-Bruges Contact [email protected] +32 492 15 41 39. PureCycle's Ironton flagship purification facility's original . This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. No products in the cart. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. The new plant is expected to have annual capacity of 59,000 metric tons (130 million pounds), with plentiful . 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. 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. PureCycle remains steadfast in its mission to advance the sustainable plastic revolution on a global basis through its unique purification process. 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. 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. A replay of the conference call will be available after 2:00 p.m. Eastern time on the same day through November 10, 2023. 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. This project represents one of the largest investments announced in the NextGen District to date. The company reported significant progress in its strategic plan. A ground-breaking process that recycles waste plastic into a sustainable ultra-pure resin. www.portofantwerpbruges.com, 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. 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.. Employer Identification No.) -Received FDA prenotification letter confirming that, ORLANDOAugust 10, 2022PureCycle Technologies, Inc. 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