Earlier in his career, Olson held senior leadership roles in manufacturing, commercial, and business support functions in refining, commodity chemicals, and specialty polymer business units across the world. That facility, located in Ulsan, South Korea, is expected to be completed by the end of 2024 and is projected to produce 60,000 tons of "ultra-pure recycled plastic" annually. The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led . 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. 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. About Port of Antwerp-Bruges . The business combination will enable PureCycle to build additional capacity beyond its Ironton, Ohio facility to deliver desired volumes to PureCycle's customers. The company's flagship recycling plant in Ironton, OH is . (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. The port is a crucial link for the handling of containers, breakbulk and for the throughput of vehicles. PureCycle Technologies continues to expand its global reach. The LAS MkII Scintillometer by Kipp & Zonen can detect sensible heat fluxes over long distances, up to 4.5km. Port of Antwerp-Bruges Contact [email protected] +32 492 15 41 39. 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 . 2 PureCycle Technologies jobs in Ironton, OH. 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 . 5 plastic) into a continuously renewable resource. 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. FIT also supports PureCycle in the start-up and development of their site and their anchoring in Flanders.". Join us in a revolutionary and proprietary cost-effective method to recycle waste polypropylene to virgin-like resin. We are discussing the financing timeline with the Development Authority of Augusta, Georgia ("AEDA"). All Rights Reserved. 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. 1125 County Road 1A, Ironton. For Businesses; Free Company Listing; Premium Business Listings . 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. 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. 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. Mortenson spent time learning what our needs were so that we could drive results. All Rights Reserved. is the first zero plastic waste program for sports and entertainment. 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. There can be no assurance that future developments will be those that have been anticipated. There can be no assurance that future developments will be those that have been anticipated. Job Description Location: Ironton, Ohio - Must be in a commutable distance, or willing toSee this and similar jobs on LinkedIn. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in ultra-pure polypropylene suitable for any PP market. PureCycle Technologies Provides Third Quarter 2022 Update . 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. PureCycles current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. Suite 300, 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.. Olson values collaboration and embraces diversity to create high-functioning teams and encourage better decision making. More. ", 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. The Vocus CI-TOF from TOFWERK provides real-time chemical ionization measurements. This project represents one of the largest investments announced in the NextGen District to date. Plastics. Process feedstock at 15,144 lbs per hour. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. The Company has also begun an evaluation of alternative sites in Central Florida. 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. Orlando, FL 32822. Our proprietary process removes color, odor, and other contaminants - resulting in 100% virgin-like . -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. Olson joined PureCycle in 2021 as Chief Manufacturing Officer and was promoted to Chief Operating Officer in early 2022. A startup named PureCycle Technologies has broken ground on a $120 million polypropylene (PP) recycling facility in Ironton, Ohio. In addition, 98% of the PreP equipment is now on site and the Company plans a preprocessing soft start in the third quarter of 2022. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and . Augusta's purification lines 1 and 2 are currently 111% contracted through multi-year offtake agreements and commitments, with notable volume during the third quarter derived from packaging converters and compounders. 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. (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. Ohio, 45638. -Finalized its Joint Venture Agreement with SK geo centric to develop a purification facility in Ulsan, South Korea. 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. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. 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 . PureCycles mission to transform the worlds polypropylene recycling industry builds upon Olsons solid leadership principles as he works to reimagine the day-to-day business environment. Since starting construction, engineering activities remain on track and key construction contracts are in place. The sustainable plastic revolution has arrived.While you may not know what polypropylene plastic is, you use it every day. The unique purification process is designed to remove color, odor, and other impurities from No. 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 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. 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. 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 Company had total liquidity of $609.9 million including $418.0 million of cash, cash equivalents and debt securities available for sale and $191.9 million in restricted cash. Olson and his wife, Amanda, have three children and currently live in Orlando, Florida. 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 Technologies process offers the only recycled polypropylene with properties equal to virgin polymer. Waste360 - Waste360 Staff - Jul. 21, 2017: The facility will utilize a technology that is capable of generating recycled PP with virgin-like properties. 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). 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. 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. Minister-President of Flanders, Jan Jambon,remarked, "PureCycle selected Flanders as the preferred location within the EU for the construction of its first European recycling plant. PureCycle's current feedstock supply pipeline comprises three diverse types of waste streams: post-consumer non-curbside, post-consumer curbside, and post-industrial. 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. The Sensi+ is a laser-based analyzer used for monitoring natural gas quality. ORLANDO, Fla.--(BUSINESS WIRE)-- PureCycle Technologies LLC ("PureCycle") announced today it has completed the bond financing required to build . 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. PureCycle Technologies Provides Second Quarter 2022 Update, PureCycle, EXPLR Media Launch Back to School Initiative with Orange County Students, PureCycle Announces Key Leadership Changes, New Chief Executive Officer, Jacksonville Jaguars, PureCycle Team Up to Help Stop Over Half a Million Pieces of Plastic from Entering Our Environment, PureCycle Welcomes New Member to Board of Directors, PureCycle Process Expected to Use Less Energy, Lower Carbon Emissions than New Plastic Production, PureCycle Technologies Provides First Quarter 2022 Update, PureCycle Technologies Schedules First Quarter 2022 Corporate Update Conference Call for Thursday, May 12, 2022, at 11:00 a.m. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. 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. 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 . Independent Construction Monitoring Reports, https://www.prnewswire.com/news-releases/purecycle-technologies-provides-third-quarter-2022-update-301673692.html, PureCycle Named No. There can be no assurance that future developments will be those that have been anticipated. The second phase, currently underway, involves scaling the evaluation process over 1000X to commercial scale. 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. 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. PureCycle's flagship purification facility in Ironton is in the final phases of construction . Orlando, FL 32822. Construction of the plant is expected to begin upon completion of the permitting process, which is currently anticipated in 2024. The facility, which is being built as part of Procter & Gamble . Our objective remains raising the necessary capital to fund our growth and help bridge us to our goal of delivering Ironton operational revenue in 2023. It mostly goes unrecycled, often ending up in our oceans and environment - and you can help fix the cycle. 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.PureCycle converts polypropylene plastic waste (designated as No.5 plastic) into like-new plastic. (740) 532-9096. . As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. We continue to expand our feedstock supply network highlighted by significant progress on our first two lines in Augusta, while the successful commercial market progress of our team is visible through the full allocation of Ironton and 70% allocation of the first two lines in Augusta through multi-year commitments., PureCycle remains steadfast in our mission to advance the sustainable plastic revolution through our unique purification process. 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. The forward-looking statements are based on the current expectations of the management of PCT and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of the Quarterly Report to be filed on Form 10-Q. PureCycle anticipates an acceleration of Phase 1 construction activities by leveraging the existing key strategic partnerships utilized in Irontons buildout; the first two purification lines are currently on track for start-up in the fourth quarter of 2023.The Company recently announced the appointment of two new members to its existing Board of Directors, Steven F. Bouck and Allen Jacoby, effective March 15, 2022. 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. 27IRONTON PureCycle Technologies LLC (PureCycle), in collaboration with JobsOhio, Ohio Southeast Economic Development (OhioSE), and Southern Ohio Port Authority, announced Monday plans to invest $363 million in the construction of a plant in Lawrence County, Ohio that will recycle polypropylene. We're thrilled to be partnering with PureCycle on this strategic project to help bring that vision to life.". We enable the use of recycled content in your applications without trade-offs. This process fully closes the loop on the reuse of recycled . By continuing to browse this site you agree to our use of cookies. 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. It hopes to ingest enough polypropylene so that it can output 107 million pounds of what's called "Ultra-Pure Recycled" resin. 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. PureCycle . Headquarters. 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. PureCycle Technologies Inc., Orlando, Florida, has announced a corporate update for several projects, including its plant in Ironton, Ohio, and facilities in Augusta, Georgia. 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. 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, 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. The Company continues to move forward on engineering and construction activities at its planned multi-line purification facility in Augusta, Georgia. 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 PureCycle Technologies Feedstock Evaluation Unit construction is under way! A Florida company is setting up shop in Lawrence County, Ohio, investing $360million in a plastics recycling facility. ORLANDO, Fla. 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.The new plant is expected to have an annual capacity of 59,000 metric tons (130 million pounds), with opportunities to expand . His breadth of experience creates a unique cross-functional and cross-cultural perspective to draw alignment between diverse viewpoints. This project was the culmination of many facets of economic development . 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.. Company Contact PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 Toll-Free: 877-648-3565 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. 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. The markets continuing interest in PureCycles UPR resin is demonstrated through the full off-take allocation of the Ironton, Ohio facility and the demonstrated acceptance of its Feedstock+ pricing model being implemented at Augusta. Lastly, in partnership with Milliken & Co, we announced the first fully sustainable, odorless concentrate for the recycled PP resin marketplace. 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. 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. Except to the extent required by applicable law or regulation, PCT undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. PureCycle Technologies' process offers the only recycled polypropylene with properties equal to virgin polymer. in Political Science and Communications from the University of Pennsylvania. As Ironton and Augusta projects progress, the Companys current sales cycle continues to shorten. Our ultra-pure recycled plastic can be recycled and reused multiple times, changing our relationship with plastic. 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. PureCycle Technologies partners with Milliken, Nestl to accelerate revolutionary plastics recycling. 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. Mr. Kalter holds a J.D. A ground-breaking process that recycles waste plastic into a sustainable ultra-pure resin. Being in the NextGen District will enable us to capitalize on existing efficiencies, collaborate with other innovators in the space and forge new partnerships." 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. PureCycle's Ironton, OH Facility is on Track to Start Producing Pellets Q1 2023 ORLANDO, Fla., Dec. 19, 2022 . Can help fix the cycle port of Antwerp-Bruges Contact [ email protected ] +32 492 15 39! Counsel and Corporate Secretary since January 2021 times, changing our relationship with plastic plastic revolution has arrived.While you not! 15 41 39 a startup named PureCycle Technologies feedstock evaluation Unit construction is under way, three! 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