PureCycle Technologies(PCT)
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PureCycle Technologies(PCT) - 2022 Q3 - Earnings Call Presentation
2022-11-10 20:06
Operational Progress - Ironton facility is targeting mechanical completion and pellet production in Q1 2023[8, 17] - Augusta project Phase 1 engineering and construction activities continue, with production ramp-up expected in 2H24 due to utility equipment lead times and financing timing[8, 25] - Feed PreP commissioning has begun at Ironton, processing over 1.3 million pounds of feedstock[8, 17] Commercial & Feedstock - Augusta Lines 1&2 offtake is oversubscribed to 111% of plant capacity[8, 30] - 12 million pounds of new Feedstock LOIs were signed for the Augusta purification facility[8] - Feedstock pipeline for Augusta is oversubscribed by approximately 7.5%[30] Financial Status & Global Expansion - PureCycle ended 3Q22 with $416 million in total cash and investments[8, 35] - $168 million has been allocated to the Augusta project to support 2024 full commissioning[8] - A joint venture agreement was signed with SK geo centric in South Korea for a polypropylene recycling facility with a capacity of 130 million pounds per year[8, 33]
PureCycle Technologies(PCT) - 2022 Q3 - Quarterly Report
2022-11-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 PureCycle Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware State 86-2293091 (I.R.S. Employer Identification Number) 5950 Hazeltine National Drive, Suite 300 Orlando, Florida 32822 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...
PureCycle Technologies(PCT) - 2022 Q2 - Earnings Call Transcript
2022-08-12 19:26
Financial Data and Key Metrics Changes - The company ended the second quarter with over $516 million in total cash and investments, a decrease of $68.2 million from March due to significant investments in facilities [11][32] - Payroll and benefit costs were $6.3 million during the second quarter, with an additional $8 million used for normal corporate operations [33] Business Line Data and Key Metrics Changes - The Ironton facility is on track for mechanical completion in Q4 2022, with initial pellet production expected by year-end [14][36] - The Augusta purification facility's first phase is planned to ramp to full capacity in 2024, with construction activities ongoing [16][36] - The company secured additional feedstock LOIs expected to yield approximately 111 million pounds of recovered polypropylene, bringing total commitments for Augusta to 329 million pounds [8][24] Market Data and Key Metrics Changes - The company is diversifying feedstock sources through the PureZero program, which aims to eliminate plastic waste and create a circular environment [9] - The Augusta purification facility's first two lines are 70% allocated, with 205 million pounds of offtake in final contract negotiations [9][25] Company Strategy and Development Direction - The principal strategy remains scaling operations, focusing on the mechanical completion of the Ironton facility and the Augusta facility's phase one [12][36] - The company is deepening relationships with partners in South Korea and Japan for future purification facilities [12][13] - The company plans to develop three regional feedstock PreP facilities along the East Coast to support the Augusta facility [19][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational momentum and the strategic growth plan, emphasizing the importance of the FDA pre-notification letter for future feedstock approvals [27][36] - The company is adapting to supply chain challenges and inflationary pressures while maintaining project schedules [14][18] Other Important Information - The company is not planning to move into the compounding space but is establishing relationships with compounders to enhance market value [74] - The FDA's approval process is seen as a significant milestone, with expectations for a shorter cycle time in future approvals [49][60] Q&A Session Summary Question: Feedstock pricing and availability - Management indicated that their technology allows for a wider range of feedstock, insulating them from market variability [42] Question: Capital raising in a changing environment - Management acknowledged rising rates but expressed confidence in their strong cash flow models to mitigate impacts [44] Question: FDA approval process importance - Management highlighted the collaborative effort with the FDA and the potential for quicker future approvals [49][60] Question: Operational updates for Ironton - Management confirmed that mechanical completion and pellet production are key milestones, with a focus on a reliable startup [78] Question: Transition to feedstock pricing - Approximately 80% of the Augusta portfolio is expected to be under feedstock plus pricing, with ongoing negotiations for additional contracts [80]
PureCycle Technologies(PCT) - 2022 Q2 - Earnings Call Presentation
2022-08-12 15:48
Second Quarter 2022 Corporate Update August 12, 2022 1 TM Forward-Looking Statements Certain statements in this Presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle Technologies, Inc. ("PCT"). Forward-looking ...
PureCycle Technologies(PCT) - 2022 Q2 - Quarterly Report
2022-08-10 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 State 86-2293091 (I.R.S. Employer Identification Number) 5950 Hazeltine National Drive, Suite 300 Orlando, Florida 32822 (877) 648-3565 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 0 ...
PureCycle Technologies(PCT) - 2022 Q1 - Earnings Call Transcript
2022-05-12 21:35
PureCycle Technologies, Inc. (NASDAQ:PCT) Q1 2022 Earnings Conference Call May 12, 2022 11:00 AM ET Company Participants Mike Otworth – Chairman and Chief Executive Officer Larry Somma – Chief Financial Officer Dustin Olson – Chief Operating Officer and Chief Manufacturing Officer Conference Call Participants Hassan Ahmed – Alembic Global Eric Stine – Craig-Hallum Noah Kaye – Oppenheimer Thomas Boyes – Cowen & Co Steve Byrne – Bank of America Operator Thank you for standing by and welcome to the PureCycle T ...
PureCycle Technologies(PCT) - 2022 Q1 - Earnings Call Presentation
2022-05-12 16:27
First Quarter 2022 Corporate Update May 12, 2022 1 TM Forward-Looking Statements Certain statements in this Presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements about the financial condition, results of operations, earnings outlook and prospects of PureCycle Technologies, Inc. ("PCT"). Forward-looking stat ...
PureCycle Technologies(PCT) - 2022 Q1 - Quarterly Report
2022-05-11 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40234 PureCycle Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware State 86-2293091 (I.R.S. Employer ...
PureCycle Technologies(PCT) - 2021 Q4 - Annual Report
2022-03-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-K _______________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40234 _______________________________ PureCycle Technologies, Inc. (Exact ...
PureCycle Technologies(PCT) - 2021 Q4 - Earnings Call Transcript
2022-03-09 21:01
PureCycle Technologies, Inc. (NASDAQ:PCT) Q4 2021 Earnings Conference Call March 9, 2022 11:00 AM ET Company Participants David Brenner - Chief Commercial Officer Mike Otworth - Chairman and Chief Executive Officer Dustin Olson - Dustin Olson Larry Somma - Chief Financial Officer Tamsin Ettefagh - Chief Sustainability Officer Conference Call Participants Noah Kaye - Oppenheimer Gerry Sweeney - ROTH Capital Aaron Spychalla - Craig-Hallum Hamzah Mazari - Jefferies Hassan Ahmed - Alembic Global Thomas Boyes - ...