PureCycle and Gulfspan Partner to Recycle One Billion Pounds of Plastic

ORLANDO, Fla.--  PureCycle Technologies, Inc. (Nasdaq: PCT) announces a strategic partnership with Gulfspan Industrial, LLC to build and reserve construction space in Beaumont, Texas for the fabrication of modular processing lines. Gulfspan's expanded capacity will help PureCycle's mission to grow its ability to recycle polypropylene (PP) into ultra-pure, sustainable plastic resin. This collaboration will also centralize and streamline PureCycle's module construction process, allowing the modules to be built and transported to sites across the world.

"Our partnership with Gulfspan sets another key foundational component for PureCycle to more efficiently implement and control our growth plan," said Dustin Olson, PureCycle chief manufacturing officer. "Streamlining the process of building and installing modular plants means we intend to build faster and more cost effectively, thereby allowing us to increase our recycling capacity. Our mission is to have every person, household and business view polypropylene as a sustainable resource. This partnership will help us accelerate PureCycle's role in achieving this goal."

Gulfspan Industrial is set in a cost-competitive and highly skilled labor market with key infrastructure available to support PureCycle's upcoming construction projects. Gulfspan is currently supporting existing strategic partners with the building of PureCycle's Ironton, Ohio plant and the pre-planning activities for the Augusta, Georgia cluster facility.

PureCycle uses proprietary super-critical solvent purification technology to recycle waste PP into ultra-pure recycled-PP (rPP) for applications spanning consumer goods, automotive, building and construction, and industrial uses. The company can process a wide range of waste PP with varying levels of contamination and effectively remove containments to create an ultra-pure polypropylene resin.

Construction on the flagship Ironton, Ohio recycling facility is well underway and expected to begin commercial production in the fourth quarter of 2022. PureCycle has already presold more than 20 years of rPP output from the Ohio plant and announced in July the location for the first cluster facility in Augusta, Georgia. This second location will have the capacity for up to five processing lines with the capability to produce up to 650 million pounds of rPP toward PureCycle's one-billion-pound goal. Engineering for the cluster facility was started in Q2 2021 with construction set to begin in Q1 2022. 

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.