PureCycle Partners With Gulfspan Industrial To Build, Reserve Construction Space In Texas

PureCycle Technologies Inc PCT enters strategic partnership with Gulfspan Industrial, LLC to build and reserve construction space in Beaumont, Texas, for the fabrication of modular processing lines.
Gulfspan's expanded capacity will help PureCycle grow its ability to recycle polypropylene (PP) into an ultra-pure, sustainable plastic resin. The partnership builds a foundation to recycle one billion pounds of plastic by 2025.
Construction on the Ironton, Ohio, recycling facility is underway and expected to begin commercial production in Q4 of 2022.
PureCycle expects the collaboration to centralize and streamline its module construction process, allowing the modules to be built and transported to sites worldwide.
Price Actions: PCT shares closed higher by 9.11% at $15.81 on Thursday.