With PureCycle Technologies Inc.'s Ohio facility to recycle polypropylene on the verge of beginning production, the company has received word that a second location has cleared another hurdle.
The Augusta Economic Development Authority in Georgia has given the company approval to close on a project site that will allow PureCycle to begin project development activities.
"We're excited for PureCycle to expand and Augusta is the perfect home for our second purification complex. This approval is the result of several months of hard work to secure the funding required for at least one purification line and close collaboration with the local community," CEO Dustin Olson said in a statement.
PureCycle initially will plan for a single production line in Augusta, similar to the firm's first location in Ironton, Ohio, but has the capability to eventually expand to eight lines.
PureCycle, in anticipation of the approval, already has ordered equipment, which has started to arrive at the company's construction location in Beaumont, Texas. PureCycle works with Gulfspan Industrial LLC, a general construction and industrial services firm, to build plant modules in Texas that are then assembled at locations where PureCycle will recycle PP.
The company took that approach for Ironton and will do so for future locations, Olson has said.
"Financing the Augusta project has been an ongoing process and we're very proud to have secured the necessary funding for the first line and we're already working on finalizing the financing for the second line. We're thankful to our investors for their continued financial support to help bring us to this point," Chief Financial Officer Larry Somma said in a statement.