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2 PURECYCLE PureCycle Technologies Provides Third Quarter 2021 Update November 10 , 2021 - Plant 1 , the first manufacturing plant in Ironton , Ohio , remains on schedule for expected completion in the fourth quarter of 2022 - Plant 2 , first cluster facility in Augusta , Georgia , on track for site work expected to begin in the first quarter of 2022 - Identified 1.6 - billion - pound feedstock supply pipeline ; Signed 6 new LOIs representing 168 million pounds of feedstock - Submitted FDA Letter of No Objection on September 10 , 2021 - Total liquidity of $ 494.1 million , including $ 221.1 million of unrestricted cash and investments and $ 273.0 million of restricted cash , at quarter end September 30 , 2021 ORLANDO , Fla . , Nov. 10 , 2021 / PRNewswire / -- PureCycle Technologies , Inc. ( " PureCycle " or " the Company " ) ( NASDAQ : PCT ) , a company seeking to revolutionize polypropylene recycling , today announced a corporate update and financial results for the third quarter ending September 30 , 2021 . Management Commentary " Since our second quarter update , we have continued to execute and advance our strategic plan , highlighted by Plant 1 in Ironton , Ohio , which is progressing on schedule to be operational in the fourth quarter of 2022. In addition , our first cluster facility in Augusta , Georgia remains on track with site work expected to begin in the first quarter of 2022 , " said Mike Otworth , PureCycle's Chairman and Chief Executive Officer . " We successfully expanded our feedstock supply network during the quarter signing multiple LOIS for feedstock , as well as identifying a 1.6 - billion - pound feedstock supply pipeline . On the commercial front , we continue to see demand and the market continues to accept our Feedstock + pricing model . Additionally , we completed the submission of the FDA Letter of No Objection in September and the first ever PureCycled plastic product was brought to market . PureCycle remains on schedule to achieve our strategic milestones and we look forward to updating you on our progress next quarter . " What we are creating at PureCycle is more than a plastic that can be infinitely sustainable , we are giving brands an opportunity to be deliberate and genuine when it comes to creating sustainable products that put our environment at the forefront . The work we have done over the last quarter not only positions us well to achieve our strategic goals , but also helps bring