PureCycle Technologies completes business combination with Roth CH Acquisition I Co. and will begin trading on Nasdaq

PCT closes agreements that include >$300MM in equity investment & starts the process to be listed on the Nasdaq Stock Exchange”

PureCycle Technologies Completes $250 Million Bond Raise; Begins Construction on Phase II Industrial Line in Ironton, Ohio

Nokia and Innventure collaborate to innovate and scale disruptive technologies

Nokia and Innventure collaborate to innovate and scale disruptive technologies

  • Collaboration begins with disruptive satellite communication technology originating from Nokia Bell Labs
  • Relationship led by Nokia Technologies, the company’s licensing arm

4 November 2019

Espoo, Finland & Orlando, Florida – Nokia and Innventure, which commercializes innovative technologies, have established a relationship designed to accelerate commercialization of disruptive Nokia Bell Labs satellite communications technology and intellectual property in areas beyond Nokia core businesses. The collaboration with Innventure will be led by Nokia Technologies, the company’s licensing arm.

Innventure and Nokia will focus initially on Adaptive Bandwidth Management (ABM) technology, which improves bandwidth utilization, security and resilience of satellite systems. The technology and inventions originate from Nokia Bell Labs. Over its more than 90-year history, many of the foundational technologies that underpin digital devices, systems and communications networks such as 5G have been invented by Nokia Bell Labs. Innventure will acquire rights to the ABM technology from Nokia and be responsible for further development and commercialization of this technology.

Jenni Lukander, President of Nokia Technologies, said: “Nokia continues to explore new ways to help others benefit from Nokia innovations, while creating value from our industry leading portfolio of technologies and innovation. Innventure’s approach has strong potential to further develop selected Nokia innovations on a commercial level.”

Innventure identifies, starts and manages early-stage new companies with disruptive technologies sourced from leading multinational pipeline partners. The firm evaluates these technologies through its proprietary DownSelect process to determine which technologies have substantial market opportunities. Nokia becomes Innventure’s third multinational technology partner to use Innventure’s unique commercialization platform.

Mike Otworth, Founder and CEO of Innventure, said: “We are thrilled to work with Nokia to bring the company’s transformative innovations to new markets, businesses and customers. Nokia has a strong pipeline of positively disruptive technologies. We have already progressed our evaluation of the Adaptive Bandwidth Management technology to the point that we have secured global commercialization rights for Innventure.”

About Nokia
We create the technology to connect the world. We develop and deliver the industry’s only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Our customers include communications service providers whose combined networks support 6.1 billion subscriptions, as well as enterprises in the private and public sector that use our network portfolio to increase productivity and enrich lives.

Through our research teams, including the world-renowned Nokia Bell Labs, we are leading the world to adopt end-to-end 5G networks that are faster, more secure and capable of revolutionizing lives, economies and societies. Nokia adheres to the highest ethical business standards as we create technology with social purpose, quality and integrity.  www.nokia.com

About Innventure
At Innventure, we commercialize innovative technologies to transform markets by creating groundbreaking companies that stand the test of time. Our strategy is to partner with Fortune 500 Companies and identify opportunities within their R&D organizations that have the highest market changing potential. We do this through our proven systematic approach to match and align innovative technologies with substantial market opportunities. Once opportunities are identified we quickly commercialize the technologies into highly successful businesses, as a premier systematic value creation engine partner. Our unique approach also lowers the many inherent risks to more conventional start-ups. With more than 20 years of experience identifying disruptive technologies and creating successful new companies, Innventure is led by executives from XL Tech Group (XLTG) and Wasson Enterprise (WE), a family office led by former Walgreens Boots Alliance CEO Greg Wasson. Innventure’s initial, and ongoing, sourcing relationship is with Procter & Gamble, and has since expanded to Elanco. Learn more at www.innventure.com.

Aptar Enters into Strategic Partnership with PureCycle Technologies

Partnership to Accelerate Integration of Ultra-Pure Recycled Polypropylene into Dispensing Solutions

 

AptarGroup, Inc. (NYSE: ATR), a global leader in dispensing, drug delivery and active packaging solutions, announced today that it has partnered with PureCycle Technologies, to prepare for the introduction of PureCycle’s Ultra-Pure Recycled Polypropylene (UPRP) into dispensing applications.

PureCycle’s ground-breaking, patented recycling process, developed and licensed by Procter & Gamble, separates color, odor and any other contaminants from plastic waste feedstock to transform it into UPRP resin with virgin-like properties. This process fully closes the loop in the reuse of recycled plastics while making recycled plastics more accessible at scale to companies desiring to use a sustainable, recycled resin.

Over the next three years, Aptar, an expert in transforming resin into products that delight consumers, will collaborate with and provide critical feedback to PureCycle regarding the transformation process of its UPRP. In addition to providing detailed feedback into how the resin performs during the transformation process, Aptar will play an integral role in helping PureCycle prepare for the food grade requirements in Europe.

“We are pleased to partner with PureCycle Technologies to introduce UPRP into our ever-growing portfolio of dispensing systems. Customers are seeking robust solutions when it comes to sustainable packaging, especially in the food and cosmetics markets, and we believe there are many applications for UPRP that will satisfy those unmet needs,” stated Stephan Tanda, President and CEO of Aptar. “This critical partnership further reinforces our commitment to supporting a circular economy where products and materials are reused or recycled and do not become waste.”

Aptar will have access to the UPRP resin and will make recommendations and propose solutions to help its customers achieve their sustainable packaging goals. This partnership further integrates PureCycle across the value chain to identify more opportunities for a circular product life cycle.

“Aptar’s broad technical expertise, deep market knowledge, and operational preeminence in both the US and European markets will help PureCycle further accelerate our expansion into Europe,” said Mike Otworth, CEO of PureCycle Technologies. “This is not only a technical validation of our process, but a commercial validation of our model that plastic waste is valuable and we as a society must act now to make plastics recycling a reality.”

With the Feedstock Evaluation Unit operational, PureCycle is rapidly progressing towards its bond offering with Piper Jaffray to build its first plant in Lawrence County, Ohio. The facility is expected to recycle 119 million pounds of polypropylene, and is expected to produce approximately 100 million pounds of UPRP per year starting in 2021.

The global polypropylene market is valued at more than $80 billion, according to Transparency Market research, and is on track to reach $133.3 billion by 2023. The Association of Plastics Recyclers (APR) has identified 1 billion pounds of recycled polypropylene demand in North America alone. The majority of that demand is for ‘high-quality’ recycled polypropylene, APR has said.

Aptar is committed to reducing its impact on the planet while creating top quality, sustainable products and is working in partnership with several sustainability organizations to serve as a business thought leader and advocate for sustainable products and processes within the packaging industry. Today, Aptar has all-plastic solutions that are recyclable and has developed a line of closures, available in North America and Europe, made with post-consumer recycled resin. The company continues to explore additional opportunities for sustainable resins. Aptar is well positioned to help its customers achieve their own objectives, many of which are to achieve packaging that is 100% recyclable or reusable by 2025. For more information on Aptar’s sustainability efforts, please view the Corporate Sustainability Report on their website under Sustainability, or by clicking here.

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About Aptar

Aptar is a global leader in innovative dispensing, drug delivery and active packaging solutions for the beauty, personal care, home care, prescription drug, consumer health care, injectables, food and beverage markets. Aptar uses insights, design, engineering and science to create innovative packaging technologies that build brand value for its customers, and, in turn, make a meaningful difference in the lives, looks, health and homes of people around the world. Aptar is headquartered in Crystal Lake, Illinois and has over 14,000 dedicated employees in 18 different countries. For more information, visit www.aptar.com.

About PureCycle

PureCycle Technologies offers the only recycled polypropylene with properties equal to virgin polymer. Our proprietary process, invented by Procter & Gamble, removes color, odor, and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market. PureCycle Technologies licenses technology from Procter & Gamble. To learn more, visit www.purecycletech.com.

PureCycle Technologies signed an agreement with L’Oréal for the supply of Ultra-Pure Recycled Polypropylene

L’Oréal agreement rounds out PureCycle strategic offtake partners for ultra-pure recycled polypropylene, a critical milestone for the upcoming first Commercial Plant.

With this agreement, L’Oréal becomes significant offtake partner for PureCycle in US and first offtake partner in Europe

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CHICAGO, July 18, 2019 — PureCycle Technologies is announcing it has reached a definitive agreement with the world’s leading beauty company, L’Oréal, to supply its Ultra-Pure Recycled Polypropylene (UPRP).

This 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, CEO of PureCycle Technologies.

In addition to being a customer, L’Oréal becomes a strategic partner for PureCycle who is bringing 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.

“For L’Oréal, the agreement represents a strategic next step in our sustainable packaging strategy, designed to accelerate the transition to the circular economy. L’Oréal ambition is that by 2025, 50% of the plastics used in our packaging will either be bio-sourced or of recycled origin, which encompasses all plastic types, polypropylene being a major milestone. We are convinced that it is our responsibility to support the rising of cutting-edge recycling technologies.” declared Philippe Thuvien, Vice-President Packaging and Development of the L’Oréal Group.

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 has announced that it will seek bond financing with Piper Jaffray; PureCycle has received an independent evaluation conducted by Moody’s Investor Services with respect to attaining a Green Bond Rating, achieving a rating of Excellent (GB1).

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.

For L’Oréal, the eco-design of beauty products has been embedded for years into the new product development process through its 3R strategy (Respect – Reduce – Replace). As part of its sustainability program, Sharing Beauty With All, L’Oréal has committed to improve the environmental and social profile of 100% of its new products. In 2018, 79% of new or renovated products have an improved social or environmental profile.

PureCycle Technologies is a portfolio company of Innventure, a Wasson Enterprise Partnership.

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About PureCycle Technologies

PureCycle Technologies offers the only recycled polypropylene with properties equal to virgin polymer. Our proprietary technology, invented by Procter & Gamble, removes color, odor, and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market. PureCycle Technologies licenses technology from Procter & Gamble. To learn more, visit purecycletech.com.

About Innventure, a Wasson Enterprise Partnership

Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led by former Walgreens Boots Alliance CEO Greg Wasson, and XL Tech Group (XLTG), Innventure’s precursor company. The team has a long history of identifying breakthrough technology solutions that address unmet needs and have sufficient economic impact to drive and sustain changed customer behaviors. Of the 11 new companies the Innventure founders created over 20 years, 10 achieved late-stage funding, including six successful IPOs. Innventure’s initial sourcing deal with Procter & Gamble took place on December 2015. Learn more at www.innventure.com.

About L’Oreal

L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 26.9 billion euros in 2018 and employs 86,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and
e-commerce. Research and innovation, and a dedicated research team of 3,993 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world.

For more information: http://mediaroom.loreal.com/en/

To find out more on L’Oréal actions on sustainable packaging: https://sharingbeautywithall.loreal.com/innovating/optimising-packaging

PureCycle Technologies Partners with Milliken, Nestlé to Accelerate Revolutionary Plastics Recycling

CHICAGO, March 13, 2019 — PureCycle Technologies, is announcing it has partnered with global industrial manufacturer, Milliken & Company, and the world’s largest food and beverage company, Nestlé S.A., as it moves forward with plans to open its first plant to restore used polypropylene (PP) plastic to ‘virgin-like’ quality with a revolutionary recycling method.

PureCycle’s patented recycling process, developed and licensed by Procter & Gamble (P&G), separates color, odor and other contaminants from plastic waste feedstock to transform it into virgin-like resin. Milliken, whose additives will play a critical role in reinvigorating recycled polypropylene, has formed an exclusive supply relationship with PureCycle to help solve the plastics end-of-life challenge. Nestlé is working with PureCycle to develop new packaging materials that help avoid plastic waste, in line with the company’s commitment to make 100% of its packaging recyclable or reusable by 2025.

“These partners are helping us accelerate as we bring this solution to the market,” said Mike Otworth, CEO of PureCycle Technologies. “This is a validation of our method, and it will help us continue to move even more quickly as we make plastics recycling a reality.”

Bringing both consumer market knowledge and technical expertise, Milliken and Nestlé help PureCycle work towards delivering the world’s first virgin-like recycled polypropylene. “The use of Milliken’s additives will help to ensure that PureCycle’s Ultra Pure Recycled Polypropylene (UPRP) is of the highest quality and adds the maximum value to brand owners and consumers. We believe that this partnership will further differentiate PureCycle as both a leading reclaimer and producer of polypropylene,” continues Otworth.

“Milliken understands that creating a sustainable future requires meaningful collaboration with other industry pioneers,” said Halsey Cook, president and CEO of Milliken & Company. “We believe PureCycle’s technology combined with Milliken’s leading plastic additives provide a transformative opportunity to elevate the viability of recycled polypropylene and help solve the plastics end-of-life challenge.”

With technology licensed from P&G, PureCycle is in the midst of building the first plant in Lawrence County, Ohio, that will recycle 119 million pounds of polypropylene, producing over 105 million pounds per year starting in 2021. The momentum created by these new relationships is enabling PureCycle to open the plant’s feedstock evaluation unit, which processes multiple variations of feedstock (waste polypropylene) to optimize plant 1 and subsequent plants.

Today, about 20 percent of polyethylene terephthalate (PET), which is commonly used to make plastic bottles and other consumer goods, is recycled. By contrast, less than 1 percent of polypropylene plastic is currently recycled. PureCycle is the first company to solely focus on recycling and reintegrating polypropylene upstream to 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.

PureCycle Technologies will make high-quality, recycled PP widely available for purchase across industries. This technology demonstrates P&G’s commitment to sustainability and helps in achieving P&G’s recycling goals – doubling the use of recycled resin in plastic packaging and ensuring 90 percent of product packaging is either recyclable or programs are in place to create the ability to recycle it. PureCycle’s technology supports P&G’s vision of using 100 percent recycled or renewable materials and having zero consumer waste go to landfills.

“Our approach to innovation not only includes products and packaging, but technologies that allow us and others to have a positive impact on our environment. This technology has the capacity to revolutionize the plastics recycling industry by enabling P&G and companies around the world to tap into sources of recycled plastics that deliver nearly identical performance and properties as virgin materials in a broad range of applications,” said Kathy Fish, Chief Research, Development and Innovation Officer,  Procter & Gamble.

The global polypropylene market is valued at more than $80 billion, according to Transparency Market research, and is on track to reach $133.3 billion by 2023. The Association of Plastics Recyclers (APR) has identified 1 billion pounds of recycled polypropylene demand in North America alone. The majority of that demand is for ‘high-quality’ recycled polypropylene, APR has said.

PureCycle Technologies is portfolio company of Innventure, a Wasson Enterprise Partnership.

About PureCycle Technologies

PureCycle Technologies offers the only recycled polypropylene with properties equal to virgin polymer. Our proprietary process removes color, odor, and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market. PureCycle Technologies licenses technology from Procter & Gamble. To learn more, visit purecycletech.com.

About Innventure, a Wasson Enterprise Partnership

Innventure has more than 20 years of experience identifying disruptive technologies and creating successful new companies. The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led by former Walgreens Boots Alliance CEO Greg Wasson, and XL Tech Group (XLTG), Innventure’s precursor company. The team has a long history of identifying breakthrough technology solutions that address unmet needs and have sufficient economic impact to drive and sustain changed customer behaviors. Of the 11 new companies the Innventure founders created over 20 years, 10 achieved late-stage funding, including six successful IPOs. Innventure’s initial sourcing deal with Procter & Gamble took place on December 2015. Learn more at www.innventure.com.

About Milliken

Milliken has been solving everyday problems with innovative solutions for more than 150 years. Our research, design and manufacturing expertise reaches across a breadth of disciplines including specialty chemicals, floor covering, and performance and protective textiles. An unwavering commitment to ethics guides our work to redefine how we add strength and protection to products, how we infuse vibrancy and color into our surroundings, and how we care for the environment. For us, success is when discoveries made within Milliken help us all have more meaningful connections with the world. Discover Milliken at www.milliken.com, and join us on FacebookInstagramLinkedIn, and Twitter.

Innventure Receives Connect + Develop Award from P&G

On October 12th, Innventure received the Connect + Develop Alumni Award from Procter & Gamble for our work on PureCycle Technologies.

Photo by John Borntrager – Fresh Start Photo

Photo by John Borntrager – Fresh Start Photo

The Connect + Develop Award was created to recognize partnerships that help P&G deliver game-changing innovations to the market. It was an honor to receive this award for our work with P&G and the launching of PureCycle Technologies, the first ever technology that is capable of turning recycled polypropylene into a virgin equivalent end product, with a color, odor and purity profile equivalent to virgin polypropylene. “PureCycle is a game changer in the industry and we are proud to be P&G’s chosen partner to commercialize this gem of a disruptive technology, said Rick Brenner, Innventure COO and a P&G alumni.

Photo by John Borntrager – Fresh Start Photo

Photo by John Borntrager – Fresh Start Photo

PureCycle Technologies and P&G introduce technology that enables recycled plastic to be nearly-new quality

PureCycle hosts ribbon-cutting for Ohio plant that will use P&G’s breakthrough recycling method to remove odor, contaminants, and color from one of the world’s most common plastics.

CHICAGO, July 20, 2017 — PureCycle Technologies, in partnership with consumer goods company P&G, today hosted the ribbon-cutting for a plant that will restore used polypropylene (PP) plastic to ‘virgin-like’ quality with a recycling method that is one of a kind. The new plant will enable consumers to purchase more products made from recycled plastic. The patented technology was born in P&G labs as one of many innovations with meaningful sustainability benefits. P&G licensed the technology to PureCycle, a portfolio company of Innventure, a Wasson Enterprise Partnership that commercializes disruptive technologies.

Founded in 2015, PureCycle is opening the feedstock evaluation unit in Lawrence County, Ohio where they will calibrate the PP recycling process. The feedstock evaluation unit will begin operating in January 2018 and continue operations after the full-scale plant will open in 2020.

“This is a case where a hundred-billion-dollar industry required new technology to meet a compelling, unmet need,” said Mike Otworth, CEO of PureCycle Technologies. “Both manufacturers and consumers have signaled a strong preference for recycling plastics, which otherwise pollute oceans, landfills, and other natural places. Until now, recycled PP had limited applications. We’re single-handedly removing those limitations and giving companies the choice to use more sustainable, recycled resins.”

At present, PureCycle has the only technology able to meet that demand. The global PP market is valued at more than $80 billion, according to Transparency Market research, and is on track to reach $133.3 billion by 2023. PP is used in automobile interiors, food and beverage packaging, consumer good packaging, electronics, construction materials, home furnishings, and many other products.

“Our approach to innovation not only includes products and packaging, but technologies that allow us and others to have a positive impact on our environment. This technology, which can remove virtually all contaminants and colors from used plastic, has the capacity to revolutionize the plastics recycling industry by enabling P&G and companies around the world to tap into sources of recycled plastics that deliver nearly identical performance and properties as virgin materials in a broad range of applications,” said Kathy Fish, P&G’s Chief Technology Officer.

“In the U.S. alone, the demand for virgin-quality recycled PP is immense. The Association of Plastics Recyclers (APR) has identified 1 billion pounds of recycled PP demand in North American alone. 720 million pounds of that demand is for ‘high-quality’ recycled PP,” said Steve Alexander, CEO of the APR.
While this is a P&G-developed technology, the recycled PP will be widely available for purchase across industries. This technology demonstrates P&G’s commitment to sustainability and helps in achieving P&G’s 2020 recycling goals (doubling use of recycled resin in plastic packaging and ensuring 90 percent of product packaging is either recyclable or programs are in place to create the ability to recycle it). PureCycle technology supports P&G’s vision of using 100 percent recycled or renewable materials and having zero consumer waste go to landfills.

About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands.

About PureCycle Technologies
PureCycle Technologies offers the only recycled polypropylene with properties equal to virgin polymer. Our proprietary process removes color, odor, and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market. PureCycle Technologies licenses technology from Procter & Gamble and is operated by Innventure, a Wasson Enterprise Partnership. To learn more, visit purecycletech.com.

About Innventure
Innventure, a Wasson Enterprise Partnership, has more than 20 years of experience identifying disruptive technologies and creating successful new companies. The group combines the expertise of Wasson Enterprise (WE), a family-based investment firm led by former Walgreens Boots Alliance CEO Greg Wasson, and XL Tech Group (XLTG), Innventure’s precursor company. The team has a long history of identifying breakthrough technology solutions that address unmet needs and have sufficient economic impact to drive and sustain changed customer behaviors. Of the 11 new companies the Innventure founders created over 20 years, 10 achieved late-stage funding, including six successful IPOs. Innventure’s initial technology partner is Procter & Gamble. Learn more at innventure.com