100+ TONS OF WASTE MATERIAL RECYCLED AT 2022-'23 CINCINNATI BENGALS HOME GAMES
PureCycle's PureZero™ Program Sees Great Success in First Season with Bengals
ORLANDO, Fla., Feb. 7, 2023 /PRNewswire/ -- PureCycle Technologies (NASDAQ: PCT) and the Cincinnati Bengals , today, announced a partnership milestone after working together during the 2022 season. Together, they recycled more than 40 tons of aluminum and plastic at Bengals home games through PureCycle's PureZero ™ waste program. The Bengals also recycled more than 60 tons of cardboard during the season.
PureCycle CEO Dustin Olson said, "It's great to see the team's on-field success matched by their sustainability efforts off the field. This is evidence of what can happen when best practices are put into place and everyone is pulling in the same direction. Thank you to the Bengals, Aramark and Rumpke for their efforts in helping to keep stadium waste from ending up in local landfills and waterways."
"Partnering with PureCycle on this program showcases how partnerships come together off the field," said Ryan Holmes, Bengals Director of Corporate Partnerships. "Traditionally, fans think of sponsors as advertisers they see in the stadium, but this relationship showcases how a true partnership between the team and sponsor can make a positive impact on our environment and the community."
As part of the PureZero ™ program, the Bengals have implemented a multi-step approach to reducing the amount of plastic waste generated at the team's home games. PureCycle is working with the Bengals on recommendations to stock concessions with No.5 plastic products to create a truly circular recycling system.
"Like with their own team, the Bengals have the right players in place to make this a truly successful program," said Jeff Snyder, Director of Recycling, Rumpke Waste & Recycling. "As Ohio's recycling leader, Rumpke continues to invest millions annually into our recycling programs to ensure our customers – like the Bengals – can recycle the most amount of material possible, and thanks to innovators like PureCycle – Bengals fans could recycle more plastics than ever before. We look forward to continuing to work with the stadium and Aramark on growing this program."
PureCycle uses a game-changing patented technology that can remove virtually all contaminants, colors and odors from polypropylene plastic waste (designated as No.5 plastic) and transform it into an ultra-pure plastic resin that can be used multiple times.
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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
s polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, 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 February 7, 2023