PureCycle Technologies, Inc. announced a signed memorandum of understanding (MOU) with Mitsui & Co., as a first step to developing and operating a recycling facility in Japan to transform polypropylene (PP) waste into Ultra-Pure Recycled Polypropylene (UPRP). The MOU with Mitsui comes on the heels of PureCycle's successful second quarter 2021 update. Construction on the Ironton, Ohio PureCycle recycling facility is well underway and expected to begin commercial production in the fourth quarter of 2022, and the company recently announced the location for the first cluster facility in Augusta, Georgia.

PureCycle has already presold more than 20 years of UPRP output from the Ohio plant and has already allocated 40% of its second plant in Augusta to Ohio facility customers. PureCycle is seeing strong demand from premium brands, like L'Oréal, who are looking to deliver recycled content into premium applications without sacrificing quality.