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PureCycle Process Expected to Use Less Energy, Lower Carbon Emissions than New Plastic Production
Company Releases Inaugural ESG Report with Preliminary LCA Data ORLANDO, Fla., May 18, 2022 /PRNewswire/ -- Today, PureCycle Technologies, Inc. (Nasdaq: PCT)
About this update from Purecycle Technologies, Inc.
[{"type":"text","content":"Company Releases Inaugural ESG Report with Preliminary LCA Data\nORLANDO, Fla., May 18, 2022 /PRNewswire/ -- Today, PureCycle Technologies, Inc. (Nasdaq: PCT) released its inaugural Environment, Social, and Governance (ESG) Report including third party preliminary Life Cycle Assessment (LCA) data that shows the company's purification process for recycling polypropylene (designated as No. 5 plastic) waste uses less energy and has lower carbon emissions than new plastic production.\n\n \n \n \n \n \n \n\n \nPureCycle's 2021 ESG Report details the company's commitment to its community, stakeholders, and tackling the global plastic pollution crisis. The report also spotlights PureCycle's effort to scale and optimize its unique No. 5 plastic recycling, harness the latest manufacturing technology systems, and leverage top tier talent to fulfill the company's mission of transforming plastic waste into a continuously renewable resource.\nKey Report Highlights \nBased on the design of PureCycle's Ironton, Ohio facility, carbon emissions are expected to be 35% lower compared to new No. 5 plastic production.The PureCycle process is expected to use 79% less energy than new No. 5 plastic production.PureCycle has more than doubled its team in just one year, with a turnover rate of less than 10%.PureCycle's \"Born Digital\" approach means using the latest generation of automation technology, employing virtual reality, augmented reality, and artificial intelligence, designed to allow the company to complete projects faster, and operate with world-class performance and enhanced safety.PureCycle has implemented a \"Goal Zero\" safety culture to protect its team members, which has generated excellent results across many countries and cultures as used by other companies.PureCycle developed and implemented a core values system based on input from all team members employed at the time, aligning values across the entire organization to guide all facets of the company.PureCycle is positioning itself to connect brands with high-quality, sustainable plastic to deliver on their promises to reduce new plastic production and to answer consumer demands for real sustainability.Mike Otworth, Chairman and Chief Executive Officer of PureCycle, commented, \"While PureCycle's ESG program is still in its infancy, do know that we are committed to demonstrating authe...