{"id":172529,"date":"2023-03-16T15:26:36","date_gmt":"2023-03-16T15:26:36","guid":{"rendered":"https:\/\/precoinnews.com\/?p=172529"},"modified":"2023-03-16T15:26:36","modified_gmt":"2023-03-16T15:26:36","slug":"purecycle-soars-announces-distribution-partnership-with-formerra","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/purecycle-soars-announces-distribution-partnership-with-formerra\/","title":{"rendered":"PureCycle Soars; Announces Distribution Partnership With Formerra"},"content":{"rendered":"
Shares of PureCycle Technologies, Inc. (PCT) are surging more than 32% Thursday morning after the company announced distribution partnership with Formerra.<\/p>\n
Formerra will be the primary authorized North American distributor of PureCycle’s ultra-pure recycled (UPR) polypropylene resin, PureFive, the company said.<\/p>\n
PureCycle’s resin is expected to be available to Formerra customers in the fourth quarter of this year.<\/p>\n
The company also added that its first purification line in Ironton is scheduled to be completed shortly.<\/p>\n
PureCycle CEO Dustin Olson commented, “This is another key step in executing our global growth strategy. Formerra’s commitment to innovative approaches to complex end-market applications and strong dedication to sustainable solution-building is a perfect fit for our company.”<\/p>\n
PCT is at $6.32 currently. It has traded in the range of $4.44-$10.95 in the last 52 weeks. <\/p>\n