Purecycle, Port Of Antwerp-Bruges Announce Nextgen District As Location For Purecycle’s First Plastic Recycling Plant In Europe
PureCycle Technologies (NASDAQ: PCT) and the Port of Antwerp-Bruges today announced that PureCycle will build its first polypropylene (PP) recycling facility in Europe in the port’s fast-growing NextGen District, located in Belgium. The plant will have an annual capacity of 59,000 metric tons (130 million pounds), with opportunities to expand operations as the 14-hectare plot has space for four processing lines with a total capacity of ~240,000 metric tons (~500 million pounds) per year. PureCycle is currently engaged in feedstock sourcing and financial planning with the intent to secure a final project timeline by mid-2023. Construction is projected to start in 2024.
The NextGen District, a global hub for businesses seeking to advance the circular economy, is located at the Port of Antwerp-Bruges, Europe’s second largest seaport. PureCycle was recently awarded a concession contract during NextGen’s competitive bid selection process.
PureCycle Vice President of European Operations, Wiebe Schipper, commented: “The announcement of our first location in Europe marks the next phase in executing PureCycle’s global growth strategy. We are excited to bring our Ultra-Pure Recycled (UPR) resin to customers in Europe, where both companies and policies are driving the circular economy. Being in the NextGen District will enable us to capitalize on existing efficiencies, collaborate with other innovators in the space and forge new partnerships. We want to thank the Port of Antwerp-Bruges for believing in our mission and for providing the support necessary to get this project off the ground. Our team at PureCycle looks forward to creating a more sustainable future together.”
Port of Antwerp-Bruges CEO, Jacques Vandermeiren, said: “The Port of Antwerp-Bruges’ NextGen District is committed to creating an innovation hotspot where companies dedicated to building a circular economy and developing sustainable solutions to some of the world’s toughest climate and environmental challenges can thrive. We’re thrilled to be partnering with PureCycle on this strategic project to help bring that vision to life.”
PureCycle is already negotiating with potential feedstock and offtake partners and expects to commence commercial operations at its new European facility when construction of the first processing line is completed. The new PP purification plant will not only supply the European market with PureCycle’s UPR resin but is also expected to create 65-70 jobs for local residents during the initial phase of the project. This project represents one of the largest investments announced in the NextGen District to date. Various funding options are currently being considered, including traditional financing sources as well as EU grants and subsidies for circular projects.
Minister-President of Flanders, Jan Jambon, remarked, “PureCycle selected Flanders as the preferred location within the EU for the construction of its first European recycling plant. This confirms that Flanders is among the world leaders in waste collection and processing and strengthens our position even more firmly as a leading recycling hub. PureCycle’s purification technology is a game changer within the circular economy and will have a major impact on making plastics – and pre-eminently the chemical cluster around the Port of Antwerp-Bruges – even more sustainable. As a region that pioneers in circular innovation, we are extremely proud to welcome this new ecosystem-strengthening partner in Flanders. Export and investment promotion agency Flanders Investment & Trade played a leading role in this investment dossier through teams in the US and in Flanders. FIT also supports PureCycle in the start-up and development of their site and their anchoring in Flanders.”
PureCycle’s flagship recycling plant in Ironton, Ohio, is expected to start pellet production in Q1 of 2023. A second US plant is also under construction in Augusta, Georgia, and its first PP recycling plant in Asia is on track to open in 2025.
Source: Port of Antwerp-Bruges