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PureCycle Technologies, Inc. (Nasdaq:PCT) has announced the restart of operations at its flagship purification facility in Ironton, Ohio, following mechanical issues in December. The company has made significant progress in repairing the facility and has been ramping up operations, producing 183,000 pounds of pellets in the last two weeks. Despite challenges with the co-product recovery system, the team is focused on increasing run rates and has seen demand for its resin products in the market. PureCycle will be hosting an 'Ironton Showcase Day' on March 7 to demonstrate its technology and progress.
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21.67%
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PureCycle Technologies, Inc. (NASDAQ:PCT) provided an update on the status of activities at its flagship purification facility in Ironton, Ohio. The facility successfully restarted following an outage to address reliability issues. Despite operational improvements, mechanical problems arose, leading to the utilization of a 90-day cure period under an agreement with bondholders. PureCycle CEO Dustin Olson emphasized the commitment to achieving reliable operations and future milestones.
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PureCycle Technologies, Inc. (Nasdaq:PCT) has resumed pellet production at its Ironton facility in Ohio after upgrades. The installation of an automatic screen changer aims to improve run times and enhance the production of PureCycle's PureFive™ Ultra-Pure Recycled resin. The restart process took longer than expected due to delayed electrical component deliveries. At full capacity, the facility is expected to produce 107 million pounds of PureFive™ UPR resin per year.
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PureCycle Technologies, Inc. (Nasdaq:PCT) appoints Jeff Fieler as interim Chief Financial Officer following the resignation of Larry Somma. The company's CEO, Dustin Olson, expressed confidence in Fieler's industry knowledge and business growth strategy. Fieler, a longtime board member, brings over 20 years of financial industry experience and is set to lead the transition to commercial operations. The outgoing CFO, Larry Somma, was acknowledged for his pivotal role in PureCycle's journey to commencing commercial operations.
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PureCycle Technologies, Inc. (PCT) released new data from a third-party baseline Life Cycle Assessment (LCA) study showing that the future polypropylene (PP) waste purification plant at the port of Antwerp in Belgium is expected to release fewer carbon emissions, use less energy, and rely upon fewer fossil resources than global virgin plastic production. The study, conducted by DNV, found that the port of Antwerp facility will consume 86% less energy than global virgin PP production, reduce green-house gas emissions by 61%, and reduce fossil-based resource usage by 64% compared to virgin plastic.
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-10.21%
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PureCycle Technologies, Inc. (NASDAQ:PCT) announced a corporate update for Q3 2023, highlighting the processing of 409k lbs of feed through purification and the first commercial shipments of Ultra-Pure Recycled resin. They have raised $250 million through Green Convertible Senior Notes due 2030 and negotiated an agreement with Ironton Bondholders to extend milestone completion dates. The company also discussed the challenges faced at the Ironton facility and provided a liquidity and capital resources update.
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PureCycle Technologies, Inc. (NASDAQ:PCT) sent a commercial shipment of Ultra-Pure Recycled resin to Milliken & Company, enabling the trial of a sustainable concentrate for polypropylene. The UPR resin allows for 100% recycled polyolefin content, offering certified energy savings and carbon emission reductions. This marks a significant step towards delivering fully circular solutions to consumers and reducing greenhouse gas emissions by up to 35%.
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PureCycle Technologies, Inc. has sent out its first truckload of Ultra-Pure Recycled resin, PureFive™, which will be delivered to Formerra, a leading engineered materials distributor. This shipment marks a turning point for PureCycle, as it seeks to bring its game-changing product to the market and create a Pure Planet. PureCycle's global growth strategy includes plans for a second U.S. plant and facilities in Europe, South Korea, and Japan.
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Innventure LLC and Learn CW Investment Corporation have entered into a business combination agreement that will result in Innventure becoming a public company. Innventure works with multinational corporations to commercialize breakthrough technology solutions. The transaction reflects an enterprise value for Innventure of $385M.
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0.09%
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PureCycle Technologies, Inc. to host conference call on November 8, 2023, to provide update on recent corporate developments.
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4.85%
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PureCycle Technologies, Inc.
Nasdaq:PCT
PCT Rankings
PCT Stock Data
885.71M
88.88M
14.3%
60.66%
23.04%
Plastics Material and Resin Manufacturing
Manufacturing
United States of America
ORLANDO
About PCT
purecycle technologies’ process offers the only recycled polypropylene with properties equal to virgin polymer. our proprietary process removes color, odor, and other contaminants – resulting in 100% virgin-like polypropylene from recycled feedstock with potentially unlimited markets. we enable the use of recycled content in your applications without trade-offs.