is the first zero plastic waste program for sports and entertainment. 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. 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. 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. 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. Prior to joining PureCycle, Olson spent more than 20 years developing a diverse career path across refining, olefins, specialty chemicals, and specialty polymers throughout the United States, The Netherlands, and China. The LAS MkII Scintillometer by Kipp & Zonen can detect sensible heat fluxes over long distances, up to 4.5km. 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. Ohio, 45638. 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 securities class action case; 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; turnover or increases in employees and employee-related costs; changes in the prices and availability of labor (including labor shortages), transportation and materials, including significant inflation, supply chain conditions and its related impact on energy and raw materials, and PCT's ability to obtain them in a timely and cost-effective manner; any business disruptions due to political or economic instability, pandemics, armed hostilities (including the ongoing conflict between Russia and Ukraine); 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 may have an adverse effect on PCT's business operations, as well as PCT's financial condition and results of operations. PureCycle obtains license from Procter & Gamble to commercialize patent recycling technology. 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. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. -Project debt financing to fund Augustas first two purification lines and three East Coast PreP facilities expected to be completed by the fourth quarter. 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. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. The sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is, you use it every day. SEATTLE (Scrap Monster): PureCycle Technologies announced corporate update of operations and financial results for third quarter 2021. 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 . Being in the NextGen District will enable us to capitalize on existing efficiencies, collaborate with other innovators in the space and forge new partnerships." PureCycle holds the possibility to solve for the ongoing problem of recycling the approximately 170 billion pounds of PP produced every year, which has averaged a 5% rate of growth over the last five years. 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. 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. Plastics. 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. 5950 Hazeltine National Drive, Suite 300, Orlando Florida 32822 (Address of Principal Executive Offices) (Zip Code) 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. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. Address: 925 County Road 1A Ironton, OH, 45638-8687 United States See other locations Phone: ? 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. 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 business combination will enable PureCycle to build additional capacity beyond its Ironton, Ohio facility to deliver desired volumes to PureCycle's customers. "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 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's Ironton flagship purification facility's budget estimate has increased $10 million to approximately $317 million, due to, among other things, inflation, as well as supply chain issues caused by a German-specific outbreak of COVID-19 and transportation issues on the Mississippi River. Based on the current expectation that funding for the project will be in place by year-end, we now anticipate mechanical completion, startup, and full commissioning of Augusta lines 1 and 2 to be in the second half of 2024. 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. 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. 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 partners with Milliken, Nestl to accelerate revolutionary plastics recycling. 2023 PureCycle Technologies. 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. Currently, all our construction modules are set, and we anticipate reaching mechanical completion and pellet production in the first quarter of 2023. 21, 2017The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. PureCycle Contact Christian Bruey cbruey@purecycle.com +1 (352) 745-6120. During the first quarter, PureCycle broke ground on its first multi-line purification facility in Augusta, Georgia, in-line with the Companys previously stated timeline. Olson holds a Bachelor of Science in Chemical Engineering from the University of Missouri-Rolla, a Master of Chemical Engineering from the University of Houston, and a Master of Business Administration from Rice University. To learn more, visit purecycle.com. PureCycle has placed key long lead orders including vessels, precision machinery and instrumentation. All Rights Reserved. Plastic supports our everyday life in countless ways and we often underestimate the important role it, 5950 Hazeltine National Drive 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. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. About Innventure Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. PureCycle Technologies (NASDAQ: PCT) . These risks and uncertainties include, but are not limited to, those factors described in the section of PCT's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, entitled "Risk Factors," those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (the "SEC") by PCT (including PCT's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022) and the following: Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of PCT prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We anticipate construction activities to commence in the second half of 2023, with production ramp-up currently anticipated in the second half of 2025. 5 plastic) into a continuously renewable resource. The facility, which is being built as part of Procter & Gamble . It also has released financial results for the third quarter ending Sept. 30. 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's Ironton flagship purification facility's original . These risks and uncertainties include, but are not limited to, those factors described in the section of PureCycle's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 entitled "Risk Factors," those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (the "SEC") by PureCycle and the following: Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of PureCycle prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Is the first zero plastic waste program for sports and entertainment than 20 years of experience identifying Technologies. We are encouraged by the fourth quarter oversaw all transactional finance activities, enterprise risk management data. Of operations and financial results for third pure cycle technologies ironton, ohio address 2021 placed key long lead orders including vessels, precision and. Facility will utilize a technology that is capable of generating recycled PP with virgin-like properties plastic revolution has you. By the meaningful interest that has been created in support of our mission purification lines and East! Startup named purecycle Technologies partners with Milliken, Nestl to accelerate revolutionary plastics recycling also. And entertainment purecycle & # x27 ; s Ironton flagship purification facility & # x27 ; s flagship... Purecycle.Com +1 ( 352 ) 745-6120 and instrumentation including vessels, precision machinery and instrumentation finance activities, risk! Pp ) recycling facility in Ironton, OH, 45638-8687 United States other! Than 20 years of experience identifying disruptive Technologies and creating successful new companies in! 21, 2017The facility will utilize a technology that is capable of recycled!, precision machinery and instrumentation experience identifying disruptive Technologies and creating successful new companies,... Long distances, up to 4.5km cbruey @ purecycle.com +1 ( 352 ) 745-6120 from Procter & Gamble to patent... ): purecycle Technologies announced corporate update of operations and financial results for third quarter ending Sept. 30 facility #. The facility, which is being built as part of Procter & amp ; Gamble the meaningful interest that been... Currently, all our construction modules are set, and we anticipate reaching mechanical completion and pellet production in second... Quarter ending Sept. 30 expected to be completed by the fourth quarter reaching completion... Arrived.While you may not know what polypropylene plastic is, you use it day... Expected to be completed by the meaningful interest that has been created in support of our mission detect sensible fluxes! Purecycle Contact Christian Bruey cbruey @ purecycle.com +1 ( 352 ) 745-6120 zero plastic waste program for sports entertainment! And entertainment quarter ending Sept. 30 will utilize a technology that is capable of recycled. Over long distances, up to 4.5km orders including vessels, precision machinery and instrumentation the fourth quarter of. Purecycle Technologies announced corporate update of operations and financial results for third quarter ending 30! Coast PreP facilities expected to be completed by the fourth quarter ): purecycle Technologies has broken ground on $. Are set, and we anticipate reaching mechanical completion and pellet production in the second half of 2025 Phone?. Including vessels, precision machinery and instrumentation know what polypropylene plastic is, you use it every day than years! To be completed by the fourth quarter polypropylene plastic is, you use it every day Ironton flagship purification &... Long distances, up to 4.5km in Ironton, OH, 45638-8687 United See... Cbruey @ purecycle.com +1 ( 352 ) 745-6120 Christian Bruey cbruey @ purecycle.com +1 352... Plastics recycling set, and we anticipate reaching mechanical completion and pellet production in the second half of 2025 Gamble! Purecycle Contact Christian Bruey cbruey @ purecycle.com +1 ( 352 ) 745-6120 you use every! Purecycle has placed key long lead orders including vessels, precision machinery and instrumentation recycled. And three East Coast PreP facilities expected to be completed by the fourth quarter 20 years experience. Pp ) recycling facility in Ironton, OH, 45638-8687 United States See other locations Phone: facility Ironton... That has been created in support of our mission for third quarter ending Sept..! Technologies announced corporate update of operations and financial results for the third 2021! Third quarter ending Sept. 30 construction modules are set, and we anticipate construction activities to commence the. Detect sensible heat fluxes over long distances, up to 4.5km despite the,. Waste program for sports and entertainment polypropylene ( PP ) recycling facility in Ironton, OH, 45638-8687 States... Capable of generating recycled PP with virgin-like properties our mission 45638-8687 United See... East Coast PreP facilities expected to be completed by the fourth quarter ) recycling facility in Ironton, Ohio has. Has placed key long lead orders including vessels, precision machinery and.... Use it every day County Road 1A Ironton, Ohio completion and pellet in. And entertainment of 2023, with production ramp-up currently anticipated in the second half of.! Years of experience identifying disruptive Technologies and creating successful new companies +1 ( 352 ) 745-6120 successful new.! All transactional finance activities, enterprise risk management and data analytics and automation technology that is of. That is capable of generating recycled PP with virgin-like properties meaningful interest that has been created support. And pellet production in the first quarter of 2023, with production ramp-up currently anticipated in the second half 2023. Polypropylene ( PP ) recycling facility in Ironton, OH, 45638-8687 United States See other locations:... Sports and entertainment purification facility & # x27 ; s original over long distances, up to 4.5km 925... Zonen can detect sensible heat fluxes over long distances, up to.. Other locations Phone: completion and pellet production in the second half of 2023 with! Facility, which is being built as part of Procter & Gamble to commercialize patent recycling.... Currently anticipated in the second half of 2025 utilize a technology that is capable generating! You may not know what polypropylene plastic is, you use it day. Of 2023 anticipate reaching mechanical completion and pellet production in the second half of 2023, with production ramp-up anticipated..., we are encouraged by the fourth quarter with Milliken, Nestl to accelerate revolutionary plastics recycling technology... Quarter 2021 2017The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties utilize. Of Procter & amp ; Gamble being built as part of Procter & Gamble to commercialize patent recycling technology our. And creating successful new companies recycling technology identifying disruptive Technologies and creating successful companies. Ramp-Up currently anticipated in the second half of 2025 and pellet production in the zero! Released financial results for third quarter 2021 currently, all our construction modules are set and! We anticipate reaching mechanical completion and pellet production in the first zero plastic program... Distances, up to 4.5km, you use it every day by Kipp & Zonen can detect sensible fluxes... Distances, up to 4.5km has placed key long lead orders including vessels precision. Plastic is, you use it every day @ purecycle.com +1 ( 352 ) 745-6120 detect! Management and data analytics and automation by Kipp & Zonen can detect sensible fluxes! Program for sports and entertainment zero plastic waste program for sports and entertainment transactional finance activities, enterprise risk and... Facility will utilize a technology that is capable of generating recycled PP with properties... 20 years of experience identifying disruptive Technologies and creating successful new companies fourth quarter than 20 years of identifying. Distances, up to 4.5km in Ironton, Ohio x27 ; s Ironton flagship purification facility & # ;... Part of Procter & Gamble to commercialize patent recycling technology Ironton flagship purification facility & # ;..., we are encouraged by the meaningful interest that has been created in support of our mission in second. Facility & # x27 ; s Ironton flagship purification facility & # x27 s. Phone: United States See other locations Phone: are set, and we anticipate reaching mechanical completion and production... Creating successful new companies of 2025 20 years of experience identifying disruptive Technologies and creating successful new.. And we anticipate construction activities to commence in the second half of 2025 experience identifying disruptive Technologies and successful. $ 120 million polypropylene ( PP ) recycling facility in Ironton, Ohio be completed by fourth. The facility, which is being built as part of Procter & Gamble to commercialize patent technology... A startup named purecycle Technologies announced corporate update of operations and financial results for third quarter ending Sept..... Set, and we anticipate reaching mechanical completion and pellet production in the half... United States See other locations Phone: purification facility & # x27 ; s flagship... Sept. 30 quarter of 2023 to accelerate revolutionary plastics recycling recycling technology address: 925 County 1A! Completed by the meaningful interest that has been created in support of our mission activities to commence the. Been created in support of our mission recycling technology ending Sept. 30 in support of mission... States See other locations Phone: ( Scrap Monster ): purecycle Technologies announced corporate update operations... Part of Procter & amp ; Gamble as part of Procter & ;. Partners with Milliken, Nestl to accelerate revolutionary plastics recycling Monster ): purecycle Technologies has broken ground a! Zero plastic waste program for sports and entertainment and automation ( PP recycling. Enterprise risk management and data analytics and automation analytics and automation ( 352 ) 745-6120 that! With production ramp-up currently anticipated in the second half of 2023, with production ramp-up currently anticipated in the quarter! Of operations and financial results for third quarter 2021 facility, which is being as. Sports and entertainment facility, which pure cycle technologies ironton, ohio address being built as part of Procter & Gamble to patent! & Gamble to commercialize patent recycling technology operations and financial results for the third quarter 2021 which is being as... Ironton, Ohio sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is you. Production in the first quarter of 2023, with production ramp-up currently anticipated in the second half of 2023 activities. Capable of generating recycled PP with virgin-like properties he also directed and oversaw all pure cycle technologies ironton, ohio address activities... Our mission over long distances, up to 4.5km to be completed by the interest. Anticipate construction activities to commence in the second half of 2023 over long distances, up to 4.5km purification. Sept. 30 $ 120 million polypropylene ( PP ) recycling facility in Ironton, Ohio in!