Roth CH To Acquire PureCycle Technologies
Buyer’s Guide BALERS (HORIZONTAL) * RECYCLING EQUIPMENT CORPORATION * 831 W. 5th St. • Lansdale, PA 19446 (267) 218-7200
PureCycle Technologies LLC, Orlando, Florida, and Roth CH Acquisition, an acquisition company backed by Roth Capital Partners and Craig-Hallum Capital Group, have en- tered into a merger agreement. The companies aim to complete the merger of PureCycle into Roth CH’s portfolio by the first quarter of 2021. After the transaction closes, a parent company of PureCycle will issue an initial public offering (IPO). Upon closing, the cre- ated holding company will be renamed PureCycle Technol- ogies Inc. and will be listed on the Nasdaq Capital Market under the new ticker symbol PCT. Roth CH Acquisition also has entered into definitive pur- chase agreements for a $250 million common stock PIPE transaction,which is also expected to close in the first quar- ter of 2021. PureCycle Technologies has a license to com- mercialize solvent-based recycling purification technology for restoring polypropylene (PP) scrap into virgin-like resin. The company’s recycling process was developed by Procter & Gamble and commercialized by PureCycle.The company said its ultra-pure recycled polypropylene (UPRP) has simi- lar properties to virgin PP. The company is building its first commercial-scale plant in Ironton, Ohio, which is expected to have 107 million pounds of capacity per year when it’s fully operational. Pro- duction in Ironton is expected to start in late 2022,with full capacity expected to be achieved by 2023. Additionally, PureCycle reports that it plans to build new recycling production facilities globally, with the goal of having 30 commercial lines operational by 2030 and 50 by 2035.The company said it expects to announce its next location in Europe and to begin production in 2023 with a nameplate capacity of about 107 million pounds when fully operational.Additional expansion in the United States is expected to include five scaled-up commercial lines capa- ble of producing more than 165 million pounds each of its UPRP. PureCycle says it expects that production from the Ironton, Europe and other sites will bring more than 1.2 billion pounds of annual recycled PP to the market in the next five years. Keurig Dr Pepper, which has headquarters in Burling- ton, Massachusetts, and Plano, Texas, has announced that its Snapple and Core brands are transitioning to bottles made of 100-percent-recycled polyethylene terephthalate (rPET).This transition will reportedly eliminate about 46.3 million pounds of virgin plastic the company uses annual- ly. The company reports that Snapple is now available in 100-percent-recycled plastic 16-ounce bottles inWest Coast markets and said it will continue to roll out the new bot- tles in phases across the United States through early next year. With production underway, Core bottles made from 100-percent-recycled plastic will be on shelves beginning in early 2021, Keurig Dr Pepper said. Keurig Dr Pepper Brands To Use 100 Percent rPET
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SIERRA INTERNATIONAL MACHINERY 1620 E Brundage Ln • Bakersfield CA 93307 (800) 343-8503
Website: www.sierraintl.com E-mail: info@sierraintl.com
VAN DYK RECYCLING SOLUTIONS 78 Halloween Blvd. • Stamford, CT 06902 (203) 967-1100 • Fax: (203) 967-1199 Website: www.vdrs.com Email: info@vdrs.com
BALERS (VERTICAL)
B E EQUIPMENT, INC. 1775 Wentz Rd. • Quakertown, PA 18951 (215) 536-0700 • Fax: (215) 536-2999 Website: www.beequipment.com E-mail: sales@beequipment.com ELY ENTERPRISES 3809 Broadway • Lorain, OH 44052 (216) 252-8090 Fax: (216) 252-5607 Website: www.elyent.com E-mail: sales@elyent.com HARRIS 315 W. 12th Ave. • Cordele, GA 31015 (229) 273-2500
Website: www.harrisequip.com E-mail: info@harrisequip.com * RECYCLING EQUIPMENT CORPORATION * 831 W. 5th St. • Lansdale, PA 19446 (267) 218-7200
Website: www.RecyclingEquipment.com E-mail: sales@recyclingequipment.com
SIERRA INTERNATIONAL MACHINERY 1620 E Brundage Ln • Bakersfield CA 93307 (800) 343-8503
Website: www.sierraintl.com E-mail: info@sierraintl.com
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