JACKSONVILLE – Jun. 28, 2022 – PureCycle Technologies, Inc. (Nasdaq: PCT) and the Jacksonville Jaguars are teaming up to help divert over half a million pieces of plastic waste at TIAA Bank Field from being landfilled or flowing into waterways. The Jacksonville Jaguars are the first professional sports team in Florida to implement PureCycle’s PureZero TM waste program, a first-of-its-kind plastic waste program geared toward stadiums and entertainment venues. Through this partnership, PureCycle becomes the Proud Plastic Recycling Partner of the Jaguars. Part of the efforts in the first year of the partnership with the Jaguars will be focused on understanding the positive impact of the program on the Jacksonville area.
Mike Otworth, CEO, PureCycle, said, “PureCycle teamed up with the Jacksonville Jaguars to recycle more than 500,000 pieces of plastic waste to help end the single-use plastic cycle at TIAA Bank Field. With the PureZero TM Program, the Jacksonville Jaguars can help bring plastic waste full circle, helping stop gameday plastic trash from being landfilled or flowing into our rivers and oceans.”
No. 5 plastic (polypropylene) is a common plastic found at almost every stadium across America and it mostly goes unrecycled because leftover food and liquid make it difficult and costly to recycle. Through game-changing technology, PureCycle will collect and effectively recycle and remove impurities from souvenir stadium cups and food containers to create an ultra-pure recycled (UPR) plastic that can be recycled over and over again.
“Whether it’s a Jaguars game day or a sold-out concert, we welcome big crowds to TIAA Bank Field,” said Ryan Prep, vice president of facilities for the Jaguars. “Alongside City Wide Facility Solutions and other stadium partners of the Jacksonville Jaguars, we’re eager to get the PureCycle program implemented in Jacksonville and do our part to reduce plastic waste. We hope our fans will join us this season by seeking out recycling containers around the stadium.”
PureCycle’s partnership with the Jacksonville Jaguars aims to reduce the amount of plastic waste generated at the more than 50 games and events, and will help stock concessions with No. 5 plastic products, creating a truly circular recycling system and an innovative sustainability plan for the team.
About PureCycle Technologies
PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transforms polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic can be recycled and reused over and over again, changing our relationship with plastic. www.purecycle.com
About the Jacksonville Jaguars
The Jacksonville Jaguars are a professional football team, one of 32 member clubs of the National Football League (NFL), aligned in the South Division of the American Football Conference (AFC). Founded on Nov. 30, 1993, the team began play as an expansion team in 1995 and will compete in its 28th season in 2022. The team is owned by Shahid Khan, who purchased the franchise in January 2012. The club plays its home games at TIAA Bank Field, located near the St. Johns River in downtown Jacksonville, Fla. Since their inaugural season in 1995, the Jaguars have won three division titles and made seven playoff appearances, playing in 14 postseason games.
This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
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 the Quarterly Report to be filed on Form 10-Q. 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 the section of PCT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 entitled “Risk Factors,” those discussed and identified in public filings made with the U.S. 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 UPR resin 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 UPR resin 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 the Ironton facility in a timely and cost-effective manner;
- PCT’s ability to complete the necessary funding with respect to, and complete the construction of the Augusta facility, its first U.S. cluster facility located in Augusta, Georgia, in a timely and cost-effective manner;
- PCT’s ability to sort and process polypropylene plastic waste at its plastic waste prep (“Feed PreP”) facilities;
- PCT’s ability to maintain exclusivity under the Procter & Gamble Company license;
- 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 or regulatory proceedings to which PCT is, or may become a party, including the recently filed securities class action case;
- the ability to recognize the anticipated benefits of the previously announced business combination consummated on March 17, 2021;
- unexpected costs related to the business combination;
- 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;
- changes in the prices and availability of labor (including labor shortages), transportation and materials, including significant inflation, and PCT’s ability to obtain them in a timely and cost-effective manner;
- the potential impact of climate change on PCT, including physical and transition risks, higher regulatory and compliance costs, reputational risks, and availability of capital on attractive terms;
- operational risk; and
- the risk that the COVID-19 pandemic, including any new and emerging variants and the efficacy and distribution of vaccines, and local, state, federal and international responses to addressing the pandemic may have an adverse effect on PCT’s business operations, as well as PCT’s financial condition and results of operations.
Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of PCT prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.
All subsequent written and oral forward-looking statements or other matters attributable to PCT or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this press release. Except to the extent required by applicable law or regulation, PCT undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.