The Sustainable Plastic Revolution is Here
-First PureCycled plastic product launched with EC30 -
ORLANDO, Fla., Nov. 5, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (Nasdaq: PCT) announced the first product made from PureCycled plastic has launched. The first-of-its-kind sustainable plastic shower dispenser was brought to market and sold by EC30 and made from PureCycle's ultra-pure recycled plastic transformed from trash found in the bins of U.S. stadiums. Bringing an ultra-pure recycled plastic product to consumers marks a milestone for PureCycle and changes the sustainable products game.
Mike Otworth, CEO, PureCycle, said, "There is no doubt that consumers expect companies to deliver products that are sustainable, but more importantly, eco-driven customers want true sustainability - not corporate greenwashing. What we are creating at PureCycle is more than a plastic that can be infinitely sustainable, we are giving brands an opportunity to be deliberate and genuine when it comes to creating sustainable products that put our environment at the forefront. We want every eco-driven consumer to join PureCycle in our sustainable plastic revolution so we can take on the plastic waste crisis at its core: the materials used to make plastic products. Plastic products can and should be made with material that is infinitely sustainable."
The U.S. Chamber of Commerce noted that by the end of 2021, consumers will have spent up to $150 billion on sustainable products.
David Brenner, Chief Commercial Officer, PureCycle, said, "PureCycled products available for purchase is another step in our journey that brings us one step closer to our goal of creating a pure planet. EC30 is the perfect partner for our first product launch as they are equally focused on offering truly sustainable products with the smallest carbon footprint. This product is the first of what we believe to be many examples of products being piloted that demonstrate our resin's ability to deliver exceptional aesthetic and mechanical properties that both meet sustainability goals and delight the consumer."
The big problem with plastic is that it often ends up flowing into oceans and waterways, sitting in landfills, or scattered across the environment. PureCycle is committed to being the answer to this problem. Plastic can be a replenishable and sustainable resource when it is PureCycled.
PureCycled plastic is designed to revolutionize how society recycles by transforming plastic waste into an infinitely sustainable material. PureCycle's unique purification process allows the resulting ultra-pure recycled plastic to be used in products over and over again.
About PureCycle Technologies
PureCycle Technologies LLC, a subsidiary of PureCycle Technologies, Inc., holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company, for restoring waste polypropylene (PP) into ultra-pure resin. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in ultra-pure polypropylene suitable for any PP market. To learn more, visit purecycle.com.
EC30 is revolutionizing the home and personal cleaning industry and starting a journey to carbon neutral cleaning. This patented P&G technology enables up to 50% reduction In C02 emissions impact from manufacturing, chemistry, and shipping vs traditional liquids. For what emissions EC30 can't reduce, we invest in verified forest restoration to offset our immediate carbon emissions. Learn more about our incredible range of products at https://ec30clean.com/try-ec30
This press release contains forward-looking statements, including statements about the financial condition and prospects of PCT. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of the management of PCT and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in "Risk Factors," those discussed and identified in public filings made with the Securities and Exchange Commission (the "SEC") by PCT and the following: PCT's ability to meet, and to continue to meet, applicable regulatory requirements for the use of PCT's UPRP in food grade applications (both in the United States and abroad); PCT's ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the UPRP and PCT's facilities (both in the United States and abroad); expectations and changes regarding PCT's strategies and future financial performance, including its future business plans, expansion plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and PCT's ability to invest in growth initiatives; PCT's ability to scale and build its first plant in Ironton, Ohio a timely and cost-effective manner; PCT's ability to scale and build its first cluster facility in Augusta, Georgia in a timely and cost-effective manner PCT's ability to maintain exclusivity under the P&G license (as described below); the implementation, market acceptance and success of PCT's business model and growth strategy; the success or profitability of PCT's offtake arrangements; the ability to source feedstock with a high polypropylene content; PCT's future capital requirements and sources and uses of cash; PCT's ability to obtain funding for its operations and future growth; developments and projections relating to PCT's competitors and industry; the outcome of any legal proceedings to which PCT is, or may become a party, including recently filed securities class action cases; geopolitical risk and changes in applicable laws or regulations; the possibility that PCT may be adversely affected by other economic, business, and/or competitive factors; operational risk; and risk that the COVID-19 pandemic, and local, state, and federal responses to addressing the pandemic may have an adverse effect PCT's business operations, as well as PCT's financial condition and results of operations.
Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of PCT prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.
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. 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.
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SOURCE PureCycle Technologies
Released November 5, 2021