Synapse Florida Tackles Plastic Waste Crisis with PureCycle as Official Sustainability Partner
ORLANDO, Fla.– (Oct. 12, 2021) – PureCycle Technologies, Inc. (Nasdaq: PCT), headquartered in Orlando, is the official sustainability partner for Synapse Orlando 2021, (#SynapseOrlando), taking place on October 15th, at the Dr. Phillips Center for the Performing Arts in downtown Orlando. PureCycle will work with Synapse to help reduce the event’s environmental impact on the Orlando community. The innovative experience brings together entrepreneurs and tech innovators and will attract more than 1,000 attendees this year in person and virtually. This partnership makes a zero-waste footprint a Synapse priority and puts sustainability front and center with the addition of a topical panel discussion (Orlando’s Planeteers: How Three Local Companies are Saving the Planet Through Innovation) on sustainability featuring PureCycle, IDEAS For Us, and EcoSPEARS.
Tamsin Ettefagh, Chief Sustainability Officer, PureCycle said, “Investing in organizations and venues to help reduce their environmental impact in our own backyard is one way PureCycle can tackle the plastic waste crisis from a grassroots level. We are thrilled to work with the team at Synapse Florida to achieve a PureZeroTM waste footprint for this year’s event. PureCycle’s mission is to transform plastic waste into an infinitely sustainability material and change the way society views and uses plastic. By engaging innovators, community leaders, and eco-driven residents we can inspire a movement that changes the game when it comes to plastic waste.”
Lauren Prager, Vice President Community Engagement, Synapse, said, “At Synapse Florida, we are always innovating in the way we bring communities together and seek to inspire others. We knew it was possible to host large scale events that would reduce waste, increase recycling and prioritize sustainability. With PureCycle as our official sustainability partner we are doing just that. Sustainability isn’t just about reducing our footprint for one event; we want our innovators to leave this experience inspired to change the way they view and use plastic. PureCycling plastic waste changes the recycling game, and we are excited to work with this Florida company this year.”
PureCycle will collect all polypropylene plastic–designated as #5 plastic that is typically found in food containers and cups–from the conference. Throughout Synapse Orlando, there will be bins labeled with the PureCycle logo to indicate where attendees can toss their plastic waste. PureCycle will sort out the No. 5 plastic waste to recycle and ensure all other plastic waste is recycled at other facilities. PureCycle has also worked with the Synapse team to identify No. 5 plastic products to stock the conference with to ensure a PureZero™ waste footprint on the Orlando area.
PureCycle will use a patented technology to remove virtually all contaminants from the plastic waste generated at the one-day conference to transform it into ultra-pure recycled plastic. This like-new plastic can then be used to create new consumer products that can be PureCycled over and over again, creating an infinitely sustainable product. Polypropylene plastic is the most used plastic in the world and yet, less than 1% of it is recycled because it is challenging to recycle.
About PureCycle Technologies
PureCycle Technologies LLC, a subsidiary of PureCycle Technologies, Inc., holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company, for restoring waste polypropylene (PP) into ultra-pure resin. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in ultra-pure polypropylene suitable for any PP market. To learn more, visit purecycle.com.
About Synapse Florida
Synapse Florida is a 501c3 non-profit organization that enables you to connect, discover and engage with Florida’s innovation community. In-person and virtual events, innovation challenges and targeted engagement enable us to make curated connections. Our approach is unique by connecting key stakeholders across industries, technologies and geographies: entrepreneurs, investors, corporate leaders, government leaders, innovation enablers, entrepreneur support organizations, educational leaders, and talent. Through Synapse, you’ll meet the thought leaders, doers, creators, and entrepreneurs driving innovation across the state of Florida and beyond. To learn more about our work and Synapse Orlando, taking place on Friday, Oct 15, 2021, visit synapsefl.com.
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The forward-looking statements are based on the current expectations of the management of PCT and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in “Risk Factors,” those discussed and identified in public filings made with the Securities and Exchange Commission (the “SEC”) by PCT and the following: PCT’s ability to meet, and to continue to meet, applicable regulatory requirements for the use of PCT’s UPRP in food grade applications (both in the United States and abroad); PCT’s ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the UPRP and PCT’s facilities (both in the United States and abroad); expectations and changes regarding PCT’s strategies and future financial performance, including its future business plans, expansion plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and PCT’s ability to invest in growth initiatives; PCT’s ability to scale and build its first plant in Ironton, Ohio a timely and cost-effective manner; PCT’s ability to scale and build its first cluster facility in Augusta, Georgia in a timely and cost-effective manner PCT’s ability to maintain exclusivity under the P&G license (as described below); the implementation, market acceptance and success of PCT’s business model and growth strategy; the success or profitability of PCT’s offtake arrangements; the ability to source feedstock with a high polypropylene content; PCT’s future capital requirements and sources and uses of cash; PCT’s ability to obtain funding for its operations and future growth; developments and projections relating to PCT’s competitors and industry; the outcome of any legal proceedings to which PCT is, or may become a party, including recently filed securities class action cases; geopolitical risk and changes in applicable laws or regulations; the possibility that PCT may be adversely affected by other economic, business, and/or competitive factors; operational risk; and risk that the COVID-19 pandemic, and local, state, and federal responses to addressing the pandemic may have an adverse effect PCT’s business operations, as well as PCT’s financial condition and results of operations.
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