ORLANDO–August 10, 2022–PureCycle Technologies, Inc. (Nasdaq: PCT) and EXPLR Media are teaming up once again to spark ECO- and STEM- enthusiasm in children to start reimagining new solutions to today’s eco-problems. As a part of the ongoing partnership between EXPLR Media and PureCycle, the two companies are launching the “Everyday Science Stuff” Back-to-School Initiative. As a part of the initiative, PureCycle and EXPLR Media will donate 100 subscriptions to EXPLR Media’s educational streaming video and curriculum platform to the school’s Eco Club students at Millennia Gardens Elementary School. Millenia Gardens Elementary is an award-winning Title I school located in Orlando. As a part of the initiative, PureCycle donated $1,000 worth of school supplies for the school’s teachers and staff.
Considering these statistics, it’s important that business and communities help open access to science, technology, engineering, and math topics.
- The number of STEM jobs are expected to grow 8 percent from 2017 to 2029;
- The average salary for STEM workers is double that of non-STEM occupations ($100,900);
- And, 74% of middle school girls express an interest in engineering, science, and math. But only 0.4% choose that path in college.
Dustin Olson, CEO, PureCycle, said, “With the right encouragement, any child can develop a love for science, technology, engineering, and math, regardless of gender or socio-economic background. As our world becomes increasingly reliant on technology and we face ever-greater challenges related to climate change, it’s more important than ever that we nurture the next generation of eco problem-solvers. We couldn’t be more thrilled to work with both EXPLR Media and Millennia Gardens once again to spark curiosity and have a positive impact on students.”
Michelle Carralero, principal, Millennia Gardens Elementary School, said, “At Millennia Gardens, we know that sparking curiosity at an early age can lead to lifelong passions developing into careers and changing the world. Our Eco Club is one way we are fostering a love and respect for our planet. Thank you to PureCycle and EXPLR Media for helping us continue our work to give these students a solid educational foundation.”
Jenny Buccos, co-founder, EXPLR Media, said “Early introduction to science and technology content can change the game when it comes to a child’s interest, especially in girls and people of color. At EXPLR Media we want to open up access to a whole world of opportunity for every child. If we can spark the imagination of even one child, our work is worth it. Working directly with schools like Millennia Gardens Elementary can make a major difference in solving the world’s biggest problems.”
The initiative will also include hosting a career day with PureCycle team members to talk with Eco Club students about their origin story and the intersection of STEM and sustainability career paths.
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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
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.