PureCycle Technologies provides update on Ironton purification facility

PureCycle Technologies announced that the Company’s flagship purification facility in Ironton, Ohio is demonstrating improved reliability and product quality since resuming operations.The Ironton Facility initially resumed operations the week of May 20. On May 22, severe storms across the Midwest, caused an area-wide power outage that impacted the Ironton Facility. Prior to the power outage, the Company began with feed rates of 2,500 pounds per hour and reached rates of 5,500 pounds per hour right before the storm. Operations again resumed on May 30 after needed equipment repairs were completed. The Company restarted with feed rates at 2,500 pounds per hour and has subsequently reached rates of up to 6,000 pounds per hour. The Ironton Facility has produced approximately 265,000 pounds of pellets since operations resumed on May 30. During the restarts there have been operational interruptions to address minor maintenance items, calibration of digital upgrades, and utility rebalancing for continuous operations.