PureCycle updates Q1: Ironton budget overrun $55-65M; CCO departs; Augusta on track

PureCycle Technologies, Inc.

Ironton flagship facility budget raised by $55-65M to $297-307M due to inflation; mechanical completion targeted early Q4 2022.
Chief Commercial Officer David Brenner separated effective May 13; last employment day Sept 30 or earlier at Company's option.
Augusta Phase 1 (260M lbs/yr) on track for startup Q4 2023; 70% allocated via multi-year offtake, 75% feedstock under LOI.
Total liquidity $609.9M ($418M cash + $191.9M restricted cash); debt $255.7M as of March 31, 2022.

item 2.02 item 7.01 item 5.02 item 9.01

Executive movements

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Departed

David W. Brenner

Chief Commercial Officer

PCT · PureCycle Technologies, Inc.

Effective: 2022-05-13
Filed: May 12, 2022, 7:59 PM ET

Pursuant to the Separation Agreement, Mr. Brenner will no longer serve as the Chief Commercial Officer of the Company effective May 13, 2022

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David W. Brenner departed as Chief Commercial Officer at PureCycle Technologies, Inc..

Action: separated
Role: Chief Commercial Officer

Exact text from the filing

Pursuant to the Separation Agreement, Mr. Brenner will no longer serve as the Chief Commercial Officer of the Company effective May 13, 2022

View on SEC.gov

PureCycle Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001830033-22-000024

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