IRONTON, OH / ACCESSWIRE / December 5, 2023 / PureCycle Technologies, Inc. (Nasdaq:PCT) has resumed pellet production at its flagship purification facility in Ironton, Ohio, following a scheduled pause to upgrade the plant. One of the most important improvements was the installation of an automatic screen changer on the final product extruder. The screen changer will help improve run times and enhance the production of PureCycle's PureFive™ Ultra-Pure Recycled ("UPR") resin.
Over the Thanksgiving holiday, the Ironton maintenance outage was completed and the restart process was initiated. The restart process included time to unwind the maintenance activities, recharge the solvent and restart the plant. Feedstock was delivered on Sunday and pellet production resumed on Monday. The restart took a few days longer than expected, due predominantly to delayed electrical component deliveries.
PureCycle CEO Dustin Olson said, "First off, I want to thank our incredible, hard-working team in Ironton. Many of them worked through the Thanksgiving holiday to install new equipment that will improve the overall operational efficiency of the plant." Olson added, "We've made many upgrades to the facility that are expected to help us run continuously and meet upcoming milestones. I look forward to sharing our progress in the coming days as we ramp up production in Ironton and bring this first-of-its-kind technology to market."
At full capacity, PureCycle's Ironton facility is expected to produce 107 million pounds of PureFive™ UPR resin per year.
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.
Visit www.purecycle.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements about the outcome of any legal proceedings to which PureCycle is, or may become a party, and the financial condition, results of operations, earnings outlook and prospects of PureCycle. Forward-looking statements generally relate to future events or PureCycle's future financial or operating performance and may refer to projections and forecasts. Forward-looking statements are often identified by future or conditional 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 (or the negative versions of such words or 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 entitled "Risk Factors" in each of PureCycle's Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and PureCycle's Quarterly Reports on Form 10-Q, those discussed and identified in other public filings made with the Securities and Exchange Commission by PureCycle and the following:
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