Emerson and PureCycle Technologies Sign Multi-year Global Agreement for Digital Technologies and Services

Rhea-AI Summary

Emerson (NYSE: EMR) has entered a multi-year agreement with PureCycle Technologies to implement advanced digital technologies for global recycling facilities. This partnership focuses on pioneering recycling of polypropylene, a widely used plastic with low recycling rates. Emerson's Plantweb™ digital ecosystem will enhance automation and efficiency in PureCycle's facilities, enabling quicker project completions and improved operational performance. The collaboration aims to significantly increase global polypropylene recycling rates, addressing sustainability challenges.

Positive

• Partnership with PureCycle strengthens Emerson's position in the sustainability and recycling sector.
• Implementation of Plantweb™ digital ecosystem enhances operational efficiency at PureCycle facilities.
• Potential increase in global polypropylene recycling rates aligns with industry sustainability goals.

Negative

• None.

Global industrial software and technology leader Emerson (NYSE: EMR) announced today the signing of a multi-year agreement with PureCycle Technologies, Inc. (NASDAQ: PCT) to provide advanced digital technologies and automation for a network of global facilities, enabling large-scale recycling of a common – but rarely recycled – plastic.

Emerson’s Plantweb™ digital ecosystem was chosen for the breadth of digital solutions, including intelligent sensors and control valves, advanced operations software and systems, cloud data management and analytics.

“Unlike traditional manufacturing facilities coping with transforming legacy platforms to digital, PureCycle’s progressive approach will enable all future facilities to be born digital,” said Dustin Olson, chief manufacturing officer of PureCycle Technologies. “With Emerson’s help, each PureCycle facility is expected to start up with the most advanced digital automation technologies available, allowing for faster project completion, fully integrated systems and world-class operating performance.”

Polypropylene, identified as resin recycling code #5, is one of the world’s most frequently produced, versatile and widely used plastics in the world. Despite more than 170 billion tons being produced each year, less than 1% is reclaimed annually for recycling and reuse. Polypropylene is commonly used in production of food and cosmetics packaging, toys, automobile parts and more.

“PureCycle’s first-of-its-kind technology purifies waste plastic to remove color, odor and other contaminants to create a near-virgin Ultra-Pure Recycled Polypropylene suitable for nearly any application,” Olson said. “This provides a pathway to reverse low rates of global polypropylene recycling and opens new opportunities for the plastics supply into all polypropylene applications.”

“Sustainability is driving incredible innovation across the industry,” said Mike Train, chief sustainability officer of Emerson. “New policies and long-range goals for decarbonization give us vision and direction that are important to the industry and to society. Emerson’s digital automation software and technologies are helping companies like PureCycle make practical and measurable progress toward these goals today.”

About Emerson

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.

About PureCycle Technologies

PureCycle Technologies LLC, a subsidiary of PureCycle Technologies, Inc., holds a global license to commercialize the only patented solvent-based purification recycling technology, developed by The Procter & Gamble Company (P&G), for restoring waste polypropylene (PP) into virgin-like resin. The proprietary process removes color, odor and other contaminants from recycled feedstock resulting in virgin-like polypropylene suitable for any PP market. To learn more, visit purecycletech.com.

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FAQ

What is the recent partnership between Emerson and PureCycle Technologies?

Emerson signed a multi-year agreement with PureCycle Technologies to provide advanced digital technologies for recycling facilities.

How will Emerson's technology impact PureCycle's recycling efforts?

Emerson's Plantweb™ digital ecosystem will enhance automation, allowing PureCycle to complete projects faster and operate more efficiently.

What is polypropylene recycling and why is it important?

Polypropylene is a common plastic with low recycling rates; improving its recycling is crucial for sustainability.

What are the expected benefits of the Emerson and PureCycle collaboration?

The collaboration aims to increase the recycling rate of polypropylene and enhance operational performance in recycling facilities.

What is Emerson's role in the sustainability sector?

Emerson provides technologies that help companies achieve sustainability goals, including advancements in recycling.