- PureCycle Technologies Inc PCT signed a memorandum of understanding (MOU) with SK Global Chemical, a technology-driven global chemical company headquartered in South Korea. The financial terms of the deal were not disclosed.
- This MOU will enable the building and operating of a recycling facility in South Korea to transform polypropylene (PP) waste into ultra-pure polypropylene resin (UPRP).
- PureCycle and SK Global Chemical will work towards solving the ongoing plastic waste crisis in South Korea and around the globe.
- The MOU intends to develop solvent-based recycling operations in the Asia Pacific and add to the facility locations already growing across the U.S.
- Price Action: PCT shares traded higher by 12.4% at $16.035 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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