Day: January 12, 2022

SK Geo Centric and PureCycle Announce Location of Asia’s First Polypropylene Recycling Plant

SK Geo Centric (hereafter “SKGC”) and PureCycle Technologies (hereafter “PureCycle”), a U.S. advanced recycling company revolutionizing plastic waste, signed a non-binding Heads of Agreement (“HOA” or “term sheet”) to open Asia’s first recycled polypropylene (PP) plant in Ulsan, South Korea. The facility is expected to have an annual capacity of 60,000 tons and an expected completion end of 2024. The HOA progresses the business relationship between the two companies, which initiated in August 2021 with the signing of a memorandum of understanding (MOU).

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