PureCycle delays Ironton start to Q1 2023, JV with SK geo centric, financing deadline Dec 31

PureCycle Technologies, Inc.

Ironton flagship facility now targeting mechanical completion and pellet production in Q1 2023 (delayed); budget increased to ~$317M.
Finalized 50/50 JV with SK geo centric for a 130M lb/yr PP purification facility in Ulsan, South Korea; production expected H2 2025.
Augusta lines 1 and 2 overcommitted at 111% of nameplate capacity via multi-year offtake; mechanical completion expected H2 2024 subject to financing.
Financing for Augusta and three PreP facilities targeted by year-end; AEDA may terminate MOU if financing not obtained by Dec 31, 2022.
A feedstock supplier/offtake customer of Ironton seeks termination; Company disputes; $12.4M reimbursement from bond funds pending Trustee investigation.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PureCycle Technologies, Inc. reported financial results for the third quarter ending September 30, 2022.

Period: the third quarter ending September 30, 2022
Result: reported results

Exact text from the filing

On November 9, 2022, PureCycle Technologies, Inc. (the “Company”) issued a press release, attached hereto as Exhibit 99.1 and incorporated herein by reference, announcing the Company’s financial results for the third quarter of 2022 and certain other information.

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PureCycle Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001830033-22-000058

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