- PureCycle CEO Dustin Olson, on Tuesday, attended a collaborative meeting with South Korean President Yoon Suk-yeol and a small group of select business leaders.
According to the company’s website news release on April 26, 2023, PureCycle Technologies, Inc. (Nasdaq: PCT) CEO Dustin Olson, on Tuesday, attended a collaborative meeting with South Korean President Yoon Suk-yeol and a small group of select U.S. and Korean business leaders. During the U.S.-Korea CEO Roundtable, Olson discussed economic matters and exchanged ideas with President Yoon and executives, who were a part of his official delegation.
Last year, PureCycle announced a joint venture agreement with SK geo centric, a South Korean-based global leader in polypropylene production, to build a cutting-edge polypropylene recycling plant in Ulsan, South Korea. The plant will be PureCycle’s first in Asia and is expected to have the capacity to produce 60,000 tons of ultra-pure recycled resin each year.
“It was an honor to be a part of today’s collaboration and to have the opportunity to discuss sustainability objectives with President Yoon and to share PureCycle’s global mission to reduce plastic waste and create a more pure planet. South Korea recently announced 17 new national sustainable development goals, and during the meeting, we illustrated to President Yoon and his team how PureCycle’s joint venture with SK geo centric could help the nation reach those targets.”
The meeting was co-hosted by the U.S. Chamber of Commerce’s U.S.-Korea Business Council and the Federation of Korean Industries.
PureCycle Contact
Christian Bruey
cbruey@purecycle.com +1 (352) 745-6120
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 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
Forward-Looking Statements
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;
