PureCycle is expanding globally and actively scaling its production capabilities. 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. Our commercial team continued to sign offtake agreements for Augusta lines 1 and 2 with Ironton fully committed and the first two lines in Augusta overcommitted at 111% through multi-year agreements. 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. PureCycle Technologies Provides Third Quarter 2022 Update . Prior to joining Exide, Mr. Kalter served as General Counsel at Cotton States Insurance Group, a multi-line insurance group, from 1999 through 2003. The facility, which is being built as part of Procter & Gamble . For Businesses; Free Company Listing; Premium Business Listings . A replay of the conference call will be available after 2:00 p.m. Eastern time on the same day through November 10, 2023. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. Ticker NASDAQ: . 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. 9 Best Places to Work by Plastics News. PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. 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 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. Skip to Content. 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. The business combination will enable PureCycle to build additional capacity beyond its Ironton, Ohio facility to deliver desired volumes to PureCycle's customers. ", 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. All Rights Reserved. PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 2022. Posted 9:00:27 PM. 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. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. www.purecycle.com. PureCycle Technologies, Inc. et le port d'Anvers-Bruges ont annonc que PureCycle a l'intention de construire sa premire installation de recyclage de polypropylne en Europe dans le district . PureCycle Technologies Provides First Quarter 2022 Update. More info. Mr. Kalter was responsible for overseeing the legal functions of the organization including corporate governance, compliance, litigation and subsidiary management, as well as overseeing legal aspects of corporate financing transactions and mergers and acquisitions. NAICS Code 32,325. The advanced recycling company and the Port of Antwerp-Bruges today jointly announced . Plastic supports our everyday life in countless ways and we often underestimate the important role it, 5950 Hazeltine National Drive 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. It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. 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. There can be no assurance that future developments will be those that have been anticipated. 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. 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. SIC Code 28,282. ET to provide an update on recent corporate developments, including activity from the first quarter and updated future strategic plans. Being in the NextGen District will enable us to capitalize on existing efficiencies, collaborate with other innovators in the space and forge new partnerships." (740) 532-9096. 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 . 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. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. As previously referenced, market conditions remain challenging and have created uncertainty as to the timing of the currently anticipated project financing for the Augusta Facility. Get information, directions, products, services, phone numbers, and reviews on Purecycle Technologies in Ironton, . 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. 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. The Ironton flagship purification facility has a capacity of 107 million pounds per year of Ultra-Pure Recycled (UPR) resin and will mark the Companys first step in tackling the ongoing plastic waste crisis around the globe. 5 plastic) into a continuously renewable resource. 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. 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. 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. 5 plastic) into a continuously renewable resource. His breadth of experience creates a unique cross-functional and cross-cultural perspective to draw alignment between diverse viewpoints. Website: www.purecycle.com 2023 PureCycle Technologies. Please register for the conference call using the above link in advance of the call start time. -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. Dustin Olson reiterated this number in the Q1 earnings call. If you have any difficulty connecting with the conference call, please contact PureCycle Investor Relations at (689) 233-3595. The sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is, you use it every day. 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 construction site is now energized and 4 out of the 26 modules have been delivered and lifted into place. PureCycle Technologies licenses technology from Procter & Gamble. 5950 Hazeltine National Drive, Suite 300, Orlando Florida 32822 (Address of Principal Executive Offices) (Zip Code) 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. Company Contact:Anna [email protected](954) 647-7059, Investor Relations Contact:Georg VenturatosGateway Investor [email protected](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. The unique purification process removes color, odor, and other impurities from No. The new plant is expected to have an annual capacity of . Vision: An infinitely sustainable planet. We use cookies to enhance your experience. 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. PureCycle ContactChristian [email protected]+1 (352) 745-6120, Port of Antwerp-Bruges [email protected]+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. There can be no assurance that future developments will be those that have been anticipated. 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. The Company currently expects to exceed the original budget by $55 - $65 million due to increased investments as well as growing inflationary pressures. 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. 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. 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. 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. 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 . The Ironton purification facility will have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled ("UPR") resin. 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