PureCycle Technologies Appoints Lawrence Somma as Chief Financial Officer

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[{"type":"text","content":"ORLANDO, Fla., Nov. 4, 2021 /PRNewswire/ -- PureCycle Technologies, Inc. (Nasdaq: PCT) announced today that Lawrence \"Larry\" Somma has joined the innovative plastics recycling company as the next Chief Financial Officer (CFO). Somma will lead PureCycle's financial strategy as the Company seeks to transition to a revenue-generating growth business.\nSomma comes to PureCycle with nearly three decades of experience in the corporate finance sector at world-class publicly traded companies within the plastics, manufacturing, hospitality, and consumer goods industries. Most recently, Somma spent eight years at LyondellBasell Industries N.V., where he served as vice president of finance strategy and transformation for two years and vice president, corporate treasurer for six years.\nMike Otworth, CEO, PureCycle, said, \"I'm thrilled to welcome Larry to PureCycle. He has the deep financial experience and industry knowledge to lead our financial team and capital strategy during the next phase of our growth. Larry will bring a valuable perspective to PureCycle as we continue to successfully execute our vision and objectives relative to scaling the business globally. With our Ironton, Ohio facility slated for expected completion in the fourth quarter of 2022 and our Augusta facility in its beginning stages of development, Larry's experience will be critical in helping us fuel further growth.\"\nAs a financial leader, Somma's experiences include developing global finance strategies, raising project and corporate capital, overseeing treasury operations and liquidity management, leading enterprise risk management (ERM), and managing financial risk, including foreign exchange, commodity, and interest rate. In his recent role as a corporate treasurer, he completed six debt issuances (USD and EUR) totaling $6 billion. Somma has also had an expatriate assignment leading a procurement team, managed investor relations activity, and was a leading team member for an initial public offering (IPO), a corporate spin-off and a leveraged buyout (LBO). \nSomma holds an M.B.A in Finance from the University of Buffalo (1992), as well as a M.E. in Engineering Management (1989) and B.S. in Mechanical Engineering (1988) from Cornell University. \nLarry Somma said, \"PureCycle is taking meaningful action to help end the plastic waste crisis and I'm proud to be ...

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