To support advancement of the commercial project, the Mortenson team instituted proven processes to streamline communication amongst the team and established project management controls. 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. 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. Mr. Kalter holds a J.D. Suite 300, Visit Website Request Information/Quote Download PDF Copy. The Company will hold a conference call today at 11:00 a.m. 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. PureCycle obtains license from Procter & Gamble to commercialize patent recycling technology. 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 . Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. 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. yaseen jalal age; gas grills on clearance at lowe's. misfits podcast age rating; danse arabe tchaikovsky; 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. 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. The firm also has a deal with SK Geo Centric to bring its solvent . Address: 925 County Road 1A Ironton, OH, 45638-8687 United States See other locations Phone: ? 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. 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 process fully closes the loop on the reuse of recycled . Export and investment promotion agency Flanders Investment & Trade played a leading role in this investment dossier through teams in the US and in Flanders. PureCycle Technologies Inc., Orlando, Florida, has released a corporate update on operations and company expansions for the second quarter ending June 30. His breadth of experience creates a unique cross-functional and cross-cultural perspective to draw alignment between diverse viewpoints. Plastics. 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. 5950 Hazeltine National Drive, Suite 300, Orlando Florida 32822 (Address of Principal Executive Offices) (Zip Code) PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. Independent Construction Monitoring Reports, https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No. 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. During the third quarter, PureCycle's PureZero program added the Cincinnati Bengals and the Orlando Magic to its list of recycling partnerships, and is continuing with an expanded list of targets outside of stadium venues and professional sports to advance PureZero concepts in the hospitality and retail industries. Employer Identification No.) PureCycle Technologies licenses technology from Procter & Gamble. 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. Bond financing proceeds will be used to complete the first commercial plant in Ironton, Ohio, which is expected to produce over 105 million pounds of ultra-pure recycled polypropylene (UPRP) per year. 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. 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. All Rights Reserved. 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. The port is a crucial link for the handling of containers, breakbulk and for the throughput of vehicles. ET to provide an update on recent corporate developments, including activity from the first quarter and updated future strategic plans. 2023 PureCycle Technologies. PureCycles also announced its recent elevation of Dustin Olson to chief operating officer in addition to his chief manufacturing officer responsibilities and the expansion of two key roles to the Companys current finance team. The Company has also begun an evaluation of alternative sites in Central Florida. 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. 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. All rights reserved. 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. The district is located at the Port of Antwerp-Bruges, Europe's second largest seaport. Port of Antwerp-Bruges Contact press@portofantwerpbruges.com +32 492 15 41 39. . It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. 1125 County Road 1A, Ironton. 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. 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. Independent Construction Monitoring Reports, PureCycle Named No. We're thrilled to be partnering with PureCycle on this strategic project to help bring that vision to life.". 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. In 2021, Olson was honored by the Missouri University of Science and Technology as a new inductee to the Academy of Chemical Engineers. 5 plastic) into a continuously renewable resource. 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. These risks and uncertainties include, but are not limited to, those factors described in the section of PCTs 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 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. Posted 9:00:27 PM. 5950 Hazeltine National Dr Ste 650, Orlando, Florida, 32822, United States . Skip to Content. 5 plastic) into a continuously renewable resource. United States. pure cycle technologies ironton, ohio address. 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 . PureCycle is expanding globally and actively scaling its production capabilities. 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. 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. PureCycles current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. FIT also supports PureCycle in the start-up and development of their site and their anchoring in Flanders.". 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. 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. Worlds-first, global impact, game changing, are words that have been used to describe the PureCycle Technology project. PureCycle had $255.7 million in debt and accrued interest, less $16.8 million of discount and issuance costs as of March 31, 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. 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. SEC djyanbao.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT . This project represents one of the largest investments announced in the NextGen District to date. For Businesses; Free Company Listing; Premium Business Listings . Our Augusta purification facility build-out is underway and remains on track for startup in the fourth quarter of 2023. (ORLANDO, Florida May 12, 2022) 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 first quarter ending March 31, 2022. 5 plastic waste resulting in an ultra-pure recycled (UPR) resin that can be recycled and reused multiple times, changing our relationship with plastic. SEATTLE (Scrap Monster): PureCycle Technologies announced corporate update of operations and financial results for third quarter 2021. Achieve a ~90% yield on feedstock that is at least 93.3% pure. 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. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. 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