PureCycle Technologies has reached a definitive agreement with L’Oréal, to supply its Ultra-Pure Recycled Polypropylene (UPRP).
The agreement results in the full subscription of the Ohio plant’s capacity and provides L’Oréal at their option to be among the first purchasers of volume out of PureCycle’s first plant in Europe. This is an important milestone for PureCycle, which is accelerating the build-out and commercialization of its technology in key global markets to keep up with demand. PureCycle’s Ultra-Pure Recycled Polypropylene is produced from a breakthrough technology that utilizes waste polypropylene that is far too often disposed of in landfills to produce virgin-like polypropylene, unlocking a truly circular economy.
“We continue to see an increasing global need for a recycled resin with virgin-like properties. With our first plant in Ohio already being sold out more than two years before the plant will be producing commercial scale volumes, this showcases the intense demand resulting in an accelerated build out of our next plant in Europe.” said Mike Otworth, chief executive officer of PureCycle Technologies.
In addition to being a customer, L’Oréal becomes a strategic partner for PureCycle which promotes consumer market knowledge, technical expertise and a global perspective to help ensure that PureCycle’s Ultra-Pure Recycled Polypropylene meets and exceeds consumer demand for a recycled resin that delivers virgin-like aesthetics and performance.
PureCycle is in the midst of building its first plant in Lawrence County, Ohio. The facility will recycle 119 million pounds of polypropylene, producing over 105 million pounds per year with production slated to start in 2021.
Demand for the first plant’s volume has far exceeded supply, leading PureCycle to begin planning for a second plant to keep up with demand. The company is currently evaluating locations within Europe.
PureCycle is the first company to solely focus on recycling and reintegrating polypropylene upstream into highly sensitive consumer product applications, which are used in food and beverage packaging, consumer good packaging, automobile interiors, electronics, home furnishings, and many other products.
Published in the September 2019 Edition