PureCycle, League of Women Voters Partner in Nonpartisan Effort to Clean Up and Recycle Campaign Signs
Over 15,000 election signs will be collected and recycled in Volusia, Seminole, and Orange Counties diverting 10,000 pounds of plastic waste from Florida landfills and waterways
ORLANDO, Fla., Nov. 1, 2022 /PRNewswire/ -- PureCycle Technologies, Inc. (NASDAQ: PCT) is announcing today its plans to work with the League of Women Voters (LWV) of Volusia, Seminole, and Orange Counties to collect and recycle over 15,000 political signs in Central Florida after the November 8th midterm elections. This joint effort is expected to divert up to 10,000 pounds of plastic waste from Florida landfills, waterways, and green spaces, protecting the local environment and making Florida's 2022 election cycle more sustainable.
Starting on November 9th and continuing throughout the month, volunteers from three local Florida LWV chapters will collect plastic campaign signs from Democratic and Republican Party headquarters as well as citizen drop-off sites. PureCycle will then recycle and transform the signs into a sustainable resin that can be continuously repurposed and reused.
PureCycle CEO, Dustin Olson, said, "Whichever side of the political spectrum you're on, we can all agree that removing and recycling unwanted plastic trash from our local communities is a net positive for Florida residents and for the environment. We are thrilled to be working with The League of Women Voters in Volusia, Seminole, and Orange Counties to keep our neighborhoods clean and waste-free post-election. With PureCycle's groundbreaking recycling technology, we can turn this year's campaign sign for a local Republican candidate into a 2024 sign for a Democratic candidate, and vice versa. It's a true bipartisan moment for our nation."
Representatives from the Orange, Seminole and Volusia County League of Women Voters added, "Plastics in our environment is almost always bad news. Not this time. This project gives us all a real, tangible way to help clean up the mess. Drop your signs off at a collection site and the League of Women Voters will take it from there. We're thrilled to be working with our government partners and PureCycle to make it happen!"
Most political signs are made from No. 5 plastic (polypropylene), a common plastic found in hundreds of household and commercial products. Most polypropylene goes unrecycled due to the difficulty and cost of the process. PureCycle is the world's only company that has proprietary technology to separate contaminants, odors, and colors from polypropylene plastic waste - like election signs - and transform it into an ultra-pure recycled (UPR) resin that can be reused multiple times.
With the help of local LWV chapters, signs will be collected in Volusia County at the Volusia County Fairgrounds on November 20 and 21, in Seminole County through November 20, and in Orange County at various drop-off locations through November 20. Candidates and campaign volunteers are encouraged to bring signs to their respective locations. From these locations, the signs will be shipped to a recycling center for baling and then to PureCycle's Ironton facility for processing and purification.
About PureCycle Technologies
PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process is designed to remove color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused over and over again, changing our relationship with plastic. www.purecycle.com
This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle. 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 PureCycle and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. 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 the section of PureCycle's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 entitled "Risk Factors," those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (the "SEC") by PureCycle and the following:
- PureCycle's ability to meet, and to continue to meet, applicable regulatory requirements for the use of PureCycle's UPR resin in food grade applications (both in the United States and abroad);
- PureCycle's ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the UPR resin and PureCycle's facilities (both in the United States and abroad);
- expectations and changes regarding PureCycle'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 PureCycle's ability to invest in growth initiatives;
- PureCycle's ability to scale and build its first commercial-scale recycling facility in Lawrence County, Ohio (the "Ironton Facility") in a timely and cost-effective manner;
- PureCycle's ability to complete the necessary funding with respect to, and complete the construction of its first U.S. cluster facility located in Augusta, Georgia (the "Augusta Facility"), in a timely and cost-effective manner;
- PureCycle's ability to sort and process polypropylene plastic waste at its plastic waste prep ("Feed PreP") facilities;
- PureCycle's ability to maintain exclusivity under the Procter & Gamble Company license;
- the implementation, market acceptance and success of PureCycle's business model and growth strategy;
- the success or profitability of PureCycle's offtake arrangements;
- the ability to source feedstock with a high polypropylene content;
- PureCycle's future capital requirements and sources and uses of cash;
- PureCycle's ability to obtain funding for its operations and future growth;
- developments and projections relating to PureCycle's competitors and industry;
- the outcome of any legal or regulatory proceedings to which PureCycle is, or may become a party, including the securities class action case;
- geopolitical risk and changes in applicable laws or regulations;
- the possibility that PureCycle may be adversely affected by other economic, business, and/or competitive factors
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SOURCE PureCycle Technologies
Released November 1, 2022