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. Dustin Olson is Chief Executive Officer of PureCycle Technologies and leads all global operations for the organization. The webcast platform will register your name and organization as well as provide dial-ins numbers and a unique access pin. To learn more, visit purecycletech.com. 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. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. Please register for the conference call using the above link in advance of the call start time. SIC Code 28,282. 5 plastic waste resulting in an ultra-pure recycled (UPR) resin that can be recycled and reused multiple times, changing our relationship with plastic. 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. 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. Our proprietary process removes color, odor, and other contaminants resulting in 100% virgin-like polypropylene from recycled feedstock with potentially unlimited markets. Dustin Olson, PureCycle's Chief Executive Officer, said, "The . ", Larry Somma, PureCycle's Chief Financial Officer, added, "We have experienced a more challenging financing market than originally anticipated when initiating our fund raising efforts in June. 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. NEC companies in Ironton on Manta.com. ORLANDO, Fla., Nov. 9, 2022 /PRNewswire/ -- 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 third quarter ending September 30, 2022. 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. He also directed and oversaw all transactional finance activities, enterprise risk management and data analytics and automation. Company Contact PureCycle Technologies, Inc. 5950 Hazeltine National Drive Suite 300 Orlando, FL 32822 Toll-Free: 877-648-3565 PureCycle's flagship purification facility in Ironton, Ohio, remains on schedule targeting mechanical completion in early fourth quarter 2022 and expected pellet production by year-end 2022.; Construction is underway for PureCycle's second purification facility, the first multi-line purification facility in Augusta, Georgia, with Phase 1 (260 million pounds capacity) on track for startup in . "Worlds-first", "global impact", "game changing", are words that have been used to describe the PureCycle Technology project. This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. PureCycle Selected as NextGen District Concessionaire in Competitive Bid Process. NAICS Code 32,325. PureCycle Technologies LLC. The port is a crucial link for the handling of containers, breakbulk and for the throughput of vehicles. Ms. Ettefagh is the Chief Sustainability Officer at PureCycle Technologies. 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. 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). 5 plastic) into a continuously renewable resource. The company's flagship recycling plant in Ironton is Ohio expected to start pellet production in Q1 2023. By Staff Reports. Currently, all our construction modules are set, and we anticipate reaching mechanical completion and pellet production in the first quarter of 2023. 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. More info. Mission: Revolutionize plastic waste into renewable resource. "PureCycle continued to build on its operational momentum during the second quarter of 2022 and execute against its strategic growth plan," says Dustin Olson, PureCycle CEO. Management CommentaryDustin Olson, PureCycle's Chief Executive Officer, said, "The PureCycle team continued to make significant progress in executing the Company's strategic growth plans during the third quarter. We expect our three PreP facilities (Central Florida, Denver, Pennsylvania, and Augusta, Georgia) to be fully operational in advance of the completion of Augusta purification lines 1 and 2. Based on the current expectation that funding for the project will be in place by year-end, we now anticipate mechanical completion, startup, and full commissioning of Augusta lines 1 and 2 to be in the second half of 2024. The company uses solvents to treat recovered PP, making it . PureCycle Vice President of European Operations, Wiebe Schipper, commented, "The announcement of our first location in Europe marks the next phase in executing PureCycle's global growth strategy. Claim this business. Operational UpdatePureCycle's flagship purification facility in Ironton, Ohio is in the final phases of construction with all 26 modules delivered and lifted into place. Our Augusta purification facility build-out is underway and remains on track for startup in the fourth quarter of 2023. PureCycle: Ohio LLC in Ironton, Lawrence County was honored in recognition of an outstanding investment and job creation project. 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. More. Ticker NASDAQ: . As Ironton and Augusta projects progress, the Companys current sales cycle continues to shorten. psalm 23:4 tattoo back. This project was the culmination of many facets of economic development . 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 stock price is 21.7% below the long-term trend of the 200 . 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. Since our last corporate update we executed a joint venture agreement ("JVA")with SK geo centric for the development of a polypropylene purification facility in Ulsan, South Korea. Brad Kalter has served as General Counsel and Corporate Secretary since January 2021. The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led . 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. To support advancement of the commercial project, the Mortenson team instituted proven processes to streamline communication amongst the team and established project management controls. PureCycle ContactChristian Brueycbruey@purecycle.com+1 (352) 745-6120, Port of Antwerp-Bruges Contactpress@portofantwerpbruges.com+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. 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. 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. Please note there will no longer be a telephonic replay. 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. His breadth of experience creates a unique cross-functional and cross-cultural perspective to draw alignment between diverse viewpoints. 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. Larry has Bachelor of Science degree in mechanical engineering as well as a Master of Engineering degree in engineering management from Cornell University. Following on from the Greener Manufacturing Show, AZoCleantech speaks withChristophe Williams,CEO and co-founder of Naked Energy, about the company and its mission to change energy for goodby acceleratingthe transition to net zero carbon. 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's flagship purification facility in Ironton is in the final phases of construction . ", 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. 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 . The conference call will have a live Q&A session and be available for replay hereand on the Company's website at www.purecycle.com. All subsequent written and oral forward-looking statements or other matters attributable to PCT 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 continues to expand its global reach. As a result of the financing not closing by June 30, 2022, on October 5, 2022, the Company and the AEDA executed an agreement that permits the AEDA to terminate the MOU should the Company fail to obtain financing by December 31, 2022. Most recently, Somma spent eight years at LyondellBasell Industries N.V., where he served as vice president of finance strategy and transformation for two years and vice president, corporate treasurer for six years. Ironton, OH 45638 (740) 532-9096 Get Directions Similar Businesses . 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 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. Visit Website Request Information/Quote Download PDF Copy. Since 2017, Mortenson has supported PureCycle as program manager for a new technology that is centered on scaling and . 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