PureCycle Ironton Facility to Address Global Plastic Waste Crisis

SEATTLE (Scrap Monster): U.S.-based PureCycle Technologies, Inc. reiterated its commitment to advance its sustainable plastic revolution by promoting its unique purification process.

The start-up of operations at its flagship Ironton facility remains on track and is expected to mark a significant milestone in the company’s commercial path to addressing global plastic waste crisis. The mechanical completion of the facility is expected in Q4, with initial pellet production expected by year-end. It has delivered and lifted into place 14 of the 26 modules. Upon completion, the Ironton purification facility is expected to have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled resin.

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Alongside corporate project update, the company also released its financial results for the second quarter of the year ending 30th June, 2022. As at the end of the quarter, PureCycle reported total liquidity of $516.4 million and $166.6 million in restricted cash. Also, the company had $249.6 million in debt.

Dustin Olson, CEO, PureCycle Technologies noted that the startup of the Augusta multi-line purification facility is expected in the first quarter of 2024. A more in-depth evaluation will be released once its Ironton facility becomes fully operational, he added.