• PureCycle Technologies, a producer of recycled polypropylene resin, has provided its corporate update for FY2021.  

<ul><li>The company has highlighted a few milestones for FY2021. Most importantly, it reported a pipeline of demand for its ultra-pure recycled polypropylene and is in active discussions to provide 164 million pounds across existing and new markets. The company reports that capacity at its Plant 1 and two out of five lines in its Plant 2 are already sold out. The company has secured customer partnerships with EC30 , Aptar, Berry , and Winpak during the period.</ul>

<ul><li> As reported in Q3 , the company plans to complete its Plant 1 by the end of 2022, which is when it expects to generate revenue.</ul>

Other highlighted operational milestones for FY 2021:

• On track to reach a total installed annual capacity of one billion pounds by 2025: Plant 1 in Ironton Ohio (capacity of 107 million pounds) to go operational by Q4 2022 with PreP expected to be operational in Q2 2022; the first cluster of Plant 2 in Augusta, Georgia (capacity of 650 million pounds) to begin site work on March 22, 2022 and have five processing lines by Q4 2024. Updates on Plants 3 and 4 were not provided. 

<ul><li>Plans to build three new feedstock pre-processing (PreP) facilities in California (10-25 million pounds /year, Q2 2022), Central Florida (75-150 million pounds /year, Q3 2022), and Northeast (75-150 million pounds /year, 2023).</ul>

• Securing necessary feedstock for production: Secured new letters of intent to receive 60 million pounds of feedstock during Q4.

<ul><li>Partnership to build plastic recycling facilities: SK Geo Centric (Ulsan, South Korea decided as location) and Mitsui (in Japan).</ul>

• Alongside the Q4 update, Purecycle also announced raising USD 250 million in private equity capital from existing investors Sylebra Capital and Samlyn Capital as well as new investor SK Geo Centric (previously SK Global Chemical). The funds will primarily support the company in the construction of its Plant 2. The deal is expected to be completed by March 17, 2022 upon meeting closing conditions.