- 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.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.