PureCycle Technologies has secured $250 million in bond financing it needs to build a plastic recycling plant in western Lawrence County. The bond financing will allow construction of a commercial plastic plant at the former Dow Chemical plant on County Road 1A west of Ironton. The company earlier built a smaller pilot plant at the site.
Construction started this week with the purchase of long lead equipment items for the plant, which is scheduled to be completed in the second half of 2022, according to Betsy Malpica, a PureCycle spokeswoman. The plant is expected to produce about 60 full-time jobs, Malpica said. A salary range for those jobs and an estimate for the number of construction jobs wasn’t available Thursday, she said.
Once built, the plant could produce more than 105 million pounds of ultra-pure recycled polypropylene each year, according to Jim Healy, a spokesman for the company. “The need of a solution for PP (polypropylene plastics) waste has been and continues to be a driving force for PureCycle,” Mike Otworth, PureCycle chief executive officer, said in a prepared release.