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Company publishes first ESG with initial LCA data
ORLANDO, Fla. , May 18, 2022 /PRNewswire/ — Today, PureCycle Technologies, Inc. (Nasdaq: PCT) released its first environmental, social and governance (ESG) report that includes an initial life cycle assessment (LCA) from third parties knowledge That the company’s purification procedure for recycling polypropylene waste (designated as Plastic #5) uses less energy and produces less carbon emissions than new plastic production.
PureCycle’s ESG 2021 report highlights the company’s commitment to its community, stakeholders and the fight against the global plastic pollutant crisis. The report also highlights PureCycle’s efforts to evolve and optimize its unique number five plastic recycling, leveraging newer production generation systems leveraging the most sensible ability to meet the company’s project of turning plastic waste into an ongoing renewable resource.
Highlights of the report
Based on the design of the PureCycle plant in Ironton, Ohio, carbon emissions are expected to decrease 35% over the new Plastic Production No. 5.
The PureCycle procedure is expected to use 79% less energy than the new plastic production No. five.
PureCycle has more than doubled its equipment in a year, with a turnover rate of less than 10%.
PureCycle’s “Born Digital” technique is to use the latest generation of automation, virtual truth, augmented truth and synthetic intelligence technologies, designed to enable the company to complete projects faster and operate with world-class functionality and increased security.
PureCycle has implemented a “Goal Zero” protection culture for its team members, which has generated the right effects in many countries and cultures, just as other companies use it.
PureCycle evolved and implemented a basic pricing formula on the contributions of all team members hired at the time, aligning pricing across the organization to advise all aspects of the company.
PureCycle is positioning itself to unite brands with high-quality sustainable plastic to deliver on its promises of new plastic production and meet customer demands for true sustainability.
Mike Otworth, President and CEO of PureCycle, said, “While PureCycle’s ESG program is still in its infancy, please note that we are committed to demonstrating authenticity and credibility through transparent ESG reporting. As a plastic recycling generation company whose goal is to reduce plastic waste, collaborating with leading brands to help them create sustainable products for customers and reshape the industry, it is imperative that we also do our job to minimize our impact on the environment and conserve resources. Ways to reduce carbon emissions and use less energy. This is just the beginning.
This initial third-party ACL supports PureCycle’s position that its purification generation can create high-quality recycled curtains that can compete with the new plastic in terms of quality and production procedure. With research into the carbon footprint of its long-term purification procedure estimated to be less than new plastic production, PureCycle’s product is designed to offer an option to high-cost carbon credit acquisition systems while helping brands achieve their sustainability goals.
Media Contact: Anna Farrarafarrar@purecycle. com (954) 647-7059
About PureCycle TechnologiesPureCycle Technologies LLC, a subsidiary of PureCycle Technologies, Inc. , holds an international license to commercialize the patented solvent-based purification recycling technology developed through The Procter
Forward-Looking StatementsThis press release comprises forward-looking statements, which aggregate statements about PCT’s monetary condition, effects of operations, profit outlook and outlook. Forward-thinking s are sometimes known through words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “perspective”, “estimate”, “forecast”, “project”, “continue”, “could”, “may”, “could”, “potential”, “anticipate”, “should”, “should” and other similar words and expressions, however, the absence of such words does not mean that any are not future-oriented.
Forward-looking statements are based on pct management’s existing expectations and are inherently related to the uncertainties and adjustments in the cases and their forward-looking effects and relate only to the date of the quarterly report to be filed on Form 10-Q. There is no guarantee that long-term progress will be as anticipated. These forward-looking statements involve a number of hazards, uncertainties or other assumptions that would possibly cause actual effects or functionality to differ materially from those expressed or implied through such forward-looking statements. These dangers and uncertainties include, but are not limited to, the points described in the PCT Annual Report segment on Form 10-K for the year ended December 31, 2021 titled “Risk Factors,” those discussed and known in public documents filed with the U. S. Securities and Exchange Commission. U. S. (the “SEC”) through PCT and the following:
PCT’s ability to meet and continue to meet applicable regulatory needs for the use of UPR PCT resin in food quality programs (in the United States and abroad);
PCT’s ability to frequently meet the many regulatory needs applicable to UPR resin and PCT amenities (in the United States and abroad);
expectations and adjustments related to PCT’s long-term monetary functionality and methods, adding its long-term business plans, expansion plans or objectives, prospective functionality and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, money and uses of money, PCT capital expenditures, and ability to invest in expansion initiatives;
PCT’s ability to scale and build the Ironton facility temporarily and cost-effectively;
PCT’s ability to secure mandatory financing and the entire structure of the Augusta facility, its first cluster facility in the United States located in Augusta, Georgia, in a timely and cost-effective manner;
PCT’s ability to treat polypropylene plastic waste in its food preparation facilities;
PCT ability to exclusivity under Procter license
implementation, market acceptance and good fortune of PCT’s business style and expansion strategy;
the good fortune or profitability of PCT acquisition agreements;
the option of obtaining raw fabrics with a high polypropylene content;
pct’s long-term capital needs and resources and liquidity uses;
PCT’s ability to secure financing of its operations and long-term growth;
developments and projections related to PCT industry and competition;
the final results of any legal or regulatory proceedings to which PCT is or possibly is a party, adding the recently presented action of value elegance;
the ability to recognize the expected benefits of the previously announced business combination ended on March 17, 2021;
unforeseen pricing similar to the business combination;
geopolitical threat and adjustments in applicable regulations;
the option that the PCT may be adversely affected by other economic, advertising and/or competitive factors;
changes in labor and availability costs (adding labor shortages), transportation and materials, adding significant inflation and PCT’s ability to unload them on time and cost-effectively;
the potential impact of climate update on PCT, adding physical and transition risks, higher regulatory and compliance costs, reputational risks, and capital availability in extreme terms;
Operational risk; and
the threat that the COVID-19 pandemic, adding all new and emerging variants and vaccine efficacy and distribution, and local, state, federal and foreign responses to the pandemic, could have a negative effect on PCT business activities, as well as PCT’s business position, monetary status and effects of operations.
In the event that one or more of those hazards or uncertainties materialize or if any of pct’s management’s assumptions prove incorrect, the actual effects may differ materially from those projected in those forward-looking statements.
All of the following written or oral forward-looking statements or other matters attributable to PCT or any user acting on its behalf are expressly qualified in their entirety through the cautionary statements contained or referenced in this pressArrayExcepto to the extent required by applicable law or regulation, PCT assumes no legal responsibility to update such forward-looking statements to reflect occasions or occurrences subsequent to the date of this publication or to reflect the occurrence of unforeseen occasions.
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SOURCE PureCycle Technologies