PureCycle's first polypropylene purification facility certified by independent construction monitor
IRONTON, Ohio, May 1, 2023 /PRNewswire/ -- PureCycle Technologies, Inc. (Nasdaq: PCT), today, announced its first polypropylene purification plan in Ironton, Ohio received formal certification of mechanical completion from the site's independent construction monitor.
The formal certification came three days after PureCycle submitted its documentation to the engineering company. The certification is required to achieve the first key milestone in connection with PureCycle's Ironton financings.
"Formal certification from our independent construction monitor is another important step in PureCycle's journey to successfully scale up this technology," said Dustin Olson, PureCycle's CEO. "This is the culmination of thousands of hours of work from individuals who are committed to our mission to revolutionize plastic into a renewable resource. With this certification, our Ironton team closes the first milestone and can fully focus on the production of our UPR pellets."
PureCycle projects its Ironton facility will annually produce 107 million pounds of Ultra-Pure Recycled (UPR) resin using its transformative recycling technology that was developed by Procter & Gamble.
PureCycle Contact
Christian Bruey
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+1 (352) 745-6120
About PureCycle Technologies
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. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic.www.purecycle.com
Forward-Looking Statements
This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. 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.
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.
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. There can be no assurance that future developments will be those that have been anticipated. 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. 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, 2022 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.
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. Except to the extent required by applicable law or regulation, PureCycle 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.
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August 08, 2024 |
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