Welcome to our dedicated page for Purecycle Technologies news (Ticker: PCT), a resource for investors and traders seeking the latest updates and insights on Purecycle Technologies stock.
PureCycle Technologies, Inc. (Nasdaq: PCT) is a U.S.-based plastics material and resin manufacturer focused on recycling polypropylene plastic waste into PureFive resin using a patented dissolution recycling process licensed from The Procter & Gamble Company. The PureCycle news feed highlights company announcements, operational updates, certifications, partnerships, and capital markets disclosures that relate to this recycling-focused business.
News coverage for PCT often features developments at the company’s Ironton, Ohio dissolution recycling facility, including production milestones for PureFive resin and the expansion of its product portfolio into applications such as food packaging, cups and containers, caps and closures, textiles, and BOPP film. Articles also describe collaborations with partners like Churchill Container, where PureFive resin is used in Run It Back cups and containers, and trials with Brückner Maschinenbau GmbH for BOPP film production.
Investors and industry observers can use this page to follow updates on certifications and regulatory milestones, such as the Association of Plastic Recyclers’ Post-Consumer Resin Certification for PureFive resin and the REACH Certificate of Compliance that allows sales of PureFive resin in the European Union. The news feed also includes information about PureCycle’s international expansion plans, including projects in Thailand and at the port of Antwerp in Belgium, as well as corporate governance changes documented in press releases and related SEC filings.
In addition, PureCycle’s news items may cover financial and corporate updates, such as quarterly corporate update calls, production and commercialization progress, and recognition through industry awards like the U.S. Plastics Pact Sustainable Packaging Innovation Award. Regularly reviewing PCT news can help readers track how the company’s polypropylene recycling technology is being applied across markets and how its projects and partnerships are evolving over time.
On June 15, 2022, PureCycle Technologies (Nasdaq: PCT) celebrated its second annual Pure Planet Day, engaging volunteers in Florida and Ohio to support environmental initiatives. In Orlando, volunteers built a greenhouse for Millennia Gardens Elementary, while in Ironton, they cleaned up litter in collaboration with local waste management. The company aims to transform polypropylene plastic waste into ultra-pure recycled resin, promoting sustainable practices. PureCycle continues to partner with local schools to foster eco-friendly programs and enhance community well-being.
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PureCycle Technologies, Inc. (NASDAQ: PCT) has appointed Daniel M. Coombs to its Board of Directors. Coombs, with over 40 years of experience in petrochemicals and refining from LyondellBasell, qualifies as an independent director under NASDAQ standards. Chairman and CEO Mike Otworth stated that Coombs' expertise will assist in the completion of their first commercial facility in Ironton, Ohio by year-end. Coombs expressed enthusiasm for contributing to the company during this transformative period in the recycled plastics industry.
PureCycle Technologies (Nasdaq: PCT) has released its inaugural ESG Report featuring preliminary Life Cycle Assessment (LCA) data. The report highlights that PureCycle's purification process for recycling polypropylene produces 35% lower carbon emissions and uses 79% less energy compared to new plastic production. The company has significantly expanded its workforce and employed advanced automation technologies to enhance operational efficiency. CEO Mike Otworth emphasizes a commitment to sustainability and transparency in reporting environmental impacts.
PureCycle Technologies (NASDAQ: PCT) reported operational advancements in Q1 2022. The flagship Ironton facility is set for mechanical completion in early Q4 2022, with initial pellet production anticipated by year-end. The Augusta facility is under construction, targeting a 260 million pound capacity to commence operations in Q4 2023. A significant portion of the purification lines is already allocated through multi-year contracts. The company achieved a liquidity of $609.9 million, and anticipates budget overages of $55-$65 million due to inflationary pressures.
PureCycle Technologies (Nasdaq: PCT) announced a corporate update conference call scheduled for May 12, 2022, at 11:00 a.m. ET. The call will address recent developments, including first-quarter activities and strategic future plans. A press release with detailed updates will precede the call. Investors can access a replay of the call post-session until May 19, 2022, through provided telephone numbers. PureCycle specializes in advanced plastic recycling technologies, transforming polypropylene waste into ultra-pure resin.
On March 24, 2022, PureCycle Technologies (Nasdaq: PCT) was honored as one of the 'Best Places to Work' by Plastic News, ranking No. 9 among 22 finalists. This accolade reflects the company's commitment to its employees and innovative efforts in plastic recycling. The awards ceremony took place on March 23, emphasizing workplace policies and employee satisfaction. Dan Holloway, VP of HR, credited the achievement to the dedication of the PureCycle team in revolutionizing plastic waste into renewable resources.
PureCycle Technologies (PCT) has commenced construction on its second U.S. plastic waste purification facility in Augusta, Georgia. This new site aims to enhance production of ultra-pure recycled (UPR) resin, with the capacity for 1 billion pounds of recycled plastic annually across up to 8 purification lines. The expansion is supported by a recent $250 million private equity capital raise and aims to address the challenge of No. 5 plastic waste. The facility is expected to contribute to the local economy by creating jobs and supporting sustainability efforts.
PureCycle Technologies (NASDAQ: PCT) announced the appointment of two new board members: Steven F. Bouck, former president of Waste Connections, and Allen Jacoby, chief strategy officer at Milliken & Company, effective March 15, 2022. Their combined 50 years of industry experience are expected to enhance PureCycle's mission in the recycling sector. The announcement also included the resignation of founding board member Richard Brenner to focus on other business commitments. Following these changes, the board consists of eight members, six of whom are independent.
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