work can And we as testament new time our and an Thank hard continued The is increasingly to by business. This a quarter are PureCycle look to PureCycle. for as around team. we our welcome see across the And all exciting company, fourth this the Eric. I way, chapter. I dedication enter with of you, was momentum the energized
get have the details, to we in the and step it's share think frame we believe PureCycle. progress back a specific the to Before to made so we why I of worth future quarterly strongly taking
first-of-its-kind years It's has X.X of never bring shown team the and easy spirit. strength our last determination to of to But a ramping market. Ironton the tremendous the grit, innovative through technology
is serve purchase period the of well now foundational of first entering are All will meaningful into we order from us a Drake, and Ironton. into this With new our future. commercialization of
with to pleased come. excited made incredibly and is so what I'm with far progress the
As pounds the to waste with potential continues from polypropylene we enormous, Plastic basis. is policymakers, [ still have an market be XXX discussed, exceed globally. is for to sustainability recycled than soon on billion global virgin a market ] X% problem recycled and disposal unsolved previously polypropylene pushes less despite
a the yield, of and checks than it unique This solution quality and and chemical efficiently technology the so and of recycling is polypropylene, is more is done carbon is which that lesser and more generally mechanical quality processes technology through Of footprint. boxes between virgin. segment is fits recycled, technologies mechanical
scale process, as stringent needs. often at this technology believe market technology Simply [ industrial the stated, only leading produce Inside and the which we stands customers can meet PureCycle's space, ] alone. is this dissolution quality
success commercialization will for in to much next thrilled are decades believe of adoption and allow chapter our the be in profitable expansion. and We success finding so commercialization, within
virgin meets exceed material saying our even many of the materials. the of from incredibly The been has that compounds virgin qualities qualities saying customers feedback product our some with and positive, our that
grow. to continues Our list customers potential of
in XX We across numerous with industrial I'm requirements ability are engaged spec trials than incredibly meet impressed industries later-stage with more applications. team's our significant in to by more than technical potential. and XX And volume trials
phase And more turn initial let channels This and a for are been but demand this been serve than qualifications our product has me development just decade our say for nothing gratifying There personally, of customers is work of into of applications a product us seeing opening time that well fun. new this successful will excited large consuming, Ironton so has much of about. is that beyond.
strategy about us. company, position is of plastic to public decisions and lot opportunity our integrated best material emerged the of that customers' in sale ecosystem in see a the has and Since many learned incredible then we've we strategic to to and What made several This you monetize benefits. ] that our recycled has bales [ connects to became a front store. compounded purchase ourselves vertically business a key product the the approach capitalize from of
enter we feedstock First, and give own designed ever-evolving control it a is our over as market. to nascent destiny us
broader customer access through gives compounding us Second, strategy. to it applications
that believe are -- returns feedstock of we vertical. our operations portion stage going, we opportunities but volumes clear is where the see at most incremental an we Third, preprocessing compounding economic additional increasing that also This in well. as are operations in of there each we see
expand global around we vertically product This to supplying companies, feedstock the create integrated to globally. technology's global allow world. our recycling strong the given to of technology capable will fourth, flexibility, the see us the first world's And ability brands
the substantial Ironton. are made has also that in about progress been excited very We
a are well toward with improvements in have believe rapid sight of explained operational meaningful As Showcase we followed curve back to last the line S stream stage time, on acceleration in nameplate latter to I progress phase, year, the at slow of Day an follow expect as max we moving rates we we by Ironton March and with as initial in capacity. improvement
into resin compliance compliant, generates as marketplace. to we operations, As we've the of PCR the we the sell know achieve commercial know for to decision our back PCR we some to our value brought the strategic made and value hold Ironton customers. into We sales higher product is
until also know receive we and that customers thus maximize third-party certification in the We to the company. hold the validation many made the inventory decision have require value to
third-party We're process currently of of X.X expect in acquiring the receive it inventory to certification, it apply the expect product to finished toward and pounds end million will the retroactively QX. and of
think from I application how a detail go firm proceed customer it's interest useful purchase into surrounding more we to the to process order. and initial
understand technology an is part's specifications. the the and most the trials complex It of customer step formulation of This where requires with teams that requisite is a exactly take most focused time our first The customer very and the requires compounding X to to product consuming. our the phase what diligently that work to can meets part the iterative process pilot months. discussion fully up find
future And reduced is should news with and frame shortened we be time the that qualify after a good the substantially application customer, product one customers. with
are commercial-level fiber, our We customers' the out scale then successes. play at enter already industrial numerous trials this production We run at where seeing customers we the subsequent where accelerated we product to ensure with volumes. with qualification viability Drake other process to full
usually fulfill this Upon build customer begins -- commercial than This the stage completion completed less success. and we the targets. time months. successful of application completion after also the shorten generally Though ramp X phase to in volume X is the can and initial space, to initial takes should the
to & with Gamble be relationship Procter strong. Our extremely continues
into As and regions. as in working have this filed excitement amended agreement other relationship we additional which exclusivity earlier expansion requirements the a the shared an license concludes going our This to about secure we week, pursue to success forward. exclusivity our strong recently American X-K provides North is testament agreement and our
sales for are early only number this consumer that and year-end. approval Note, then applications, we're This phase gaining of different listed and of goal with earlier for not in also stages. momentum with in P&G, we QX, twice we're there momentum specific ramp than current more not the within applications shows first the We're all P&G. entering into are will of industrial is work trials which only full gaining with brands. X The brands are with here well-known P&G, is currently into P&G,
by on get P&G believe track this allocation puts us We to year-end. full the
extremely and to come. excited hard about what grateful and the We is collaboration largest for are partner our work from for
applications an extremely is happy We in a announcing recycled succeed enter challenging Extrusion. market very are fiber commercial material. qualifying and application with order to fiber to with The Drake
that As contaminants process. discussed before, ash recycled resins typically makes carry excessive difficult this very and a
first than team greater like able remove resin is was Drake our worked a material. to and contaminants, that performed process ] produce purchase compound and XX% that purification resin. late better their ran Our in We Or words, January. to a staple pure led produce to these which virgin resin a to with ultimately the their yarns. industrial announced virgin [ we filament This continuous fibers in successfully scale order, than trials
in global alone Drake pounds and polypropylene on the scale the and but Drake Extrusion applications XX portfolio. Virginia PureCycle business look their XX the per a million is other larger part conglomerate, into We're to facility to to partner that work year. currently to we of product material million purchases continue excited our qualifies with of continue future, to
in seen Drake, use haven't PureFive our of recent and this interview the it, where who bottom the a discussed CEO you to facility. of we their those our at slide of provided the For with resin our we've relationship link of
approximately X Drake of inventory. customers pull course And million the the The the applications. other came on announcement, Over also compounded material since pounds of purchase quarter, we fiber out starting that to material. of the for are
Churchill of containers. is local and processability. the souvenir strict first our requirements cups made product around with of national announced new able odor, PureFive line and recently product color This your also product We Churchill of line It and leading resin Container. is and was Run Back manufacturer commercial meet favorite to all
market, of conventions upcoming in excited estimate each add we professional is to commercial front customer a XX,XXX opportunity North sports sports movie believe presence that, get the significant in their America Ironton. here in XXX,XXX We the college X pounds resin the that big Churchill's particularly product We convenience souvenir onto are season. season. in could large, in stores, to you teams baseball about most incredibly be to containers events, use and of this the quite live When sports, they theaters, and for
team managing see And pricing. cost sports has we pushback to on inquiries their professional Churchill. professional sports and to overall from customers are has Churchill this are and premium resin the the teams the commitment already great more are balance between customers already creation, no announcement, Churchill a submitted a grow. while have other seen from to Since They thrilled sensitive XX than first relationship the partner received value
the iceberg. the of trials one, total an volume testing with total trials potential potential stated on, we it are at the of intentions, XXX market from two, approximately XX one these underway state. year steady the on these potential volume scale, applications just -- We and XXX is with from based currently is pounds and industrial million million to is is on the customers, is The volume which this per trials customers -- and are tip XX
customer demand. been The progress trials north applications should also XX front of tremendous in a Ironton stated supply should be to amount expansion unlock We out and this billion needs interest that global near of will accelerate constrained. for need ability that soon, has confidence these that on customers' could of have X sell trials made gives in future. us our begin in these can we as our the the Success pounds
is go By largest unlocking market, unit at access for ramping at let's the a -- America margins. polypropylene of pounds way X.X North our Rigid to we operations part commercial to Packaging billion can attractive of the few this Rigid these per segments. go long in a market through premium year. large, roughly successfully
trials. engaged We application industrial are and X in currently X trials pilot
appetite one of significant recycled but high-quality million demand. many and Many to conversion for customers solutions. a in the us. can companies the a The country, opportunity content, have -- unlock flexible This converters of and here access market, over or recycled film, pounds XXX represents includes CPG strong limited CPG largest face for large customer CPGs successful packaging
a Last various trials, applications with XX% and set we we to the are good currently trials development pilot on compound X compound about quarter, engaged have track we path with -- feel remained for in discussed content billion additional in those And The demand. and begin of soon. We've developed flexible for PCT market that here, undersupplied fiber massive are pending positioned high is a North This other very largely markets X.X these well pounds globally. trials, we roughly and results nonwoven capitalize approximately and billion the America with represent on to X.X early estimates. it.
up XXXX. recycled content only in made that, of of And is X.X%
accelerated engaged excited shortened in this incredibly about downstream This across and of are which approval stores. announcement created success also in sell we commercial has This you completed process and big-box the at to brands to Drake, trials, in be and Drake. in should direct months. others, We for find to both has end interest our Drake X industrial other market recent parallel parties, local interested the are has coming the that your opportunity can
to The XXXX. continue automotive trend for content in to have increasing the important in as car, pounds grow, economy market is XXX regulation has additionally, vehicle cars. fuel Europe aims PureCycle in of future recycled Currently, improve XX% created and in sales. there market need industry's approximately is lightweighting target another polypropylene per to Japan we plastic proposed it per to for The believe content and will
form the is reliable, be recycled particularly find automotive final we platforms. legislation with in global and still increased to see those and urgency of the Japan those solutions While manufacturers, to from high-quality determined, Europe
expected context XX with over a the incredibly we with production use compound one global in is automotive step to excited million a XX It's largest for our to This that a that in major Washington industry. in bumper successful produce are by of is the facia Penn to content for million of Europe XXXX, automotive our growing recycled vehicles over manufacturers. create forward of XXXX.
consistency challenging limited in quality by among standards other for a the automotive the Typically, incredibly traditional or feedstock know, manufacturers with Using rate world. recycle adhesion, paint highly post-consumer highest are and is as feedstocks automotive restricted recycling or recycling PCR, techniques. challenges for you face programs. parts when are As scrap using
compound components these to comprised good the PureFive we was make and components. across This the which primarily bumper. final nonpolypropylene with all quality with very of was compounded see resin, product, However, PCT's application success other
be We months approval expect to in testing later coming further XXXX. with in the completed safety scheduled
million of alone. per customer, in late million North an mid-XXXX While there it the which there is demand America XXXX. It's vehicle year with bumper Global the X opportunity. next open important scale on is to introduced note no facia change this to model is is from for be the pounds X this XX start model just into XX will in for whether roughly or slated model, in production interest discussion in on still
for potential With in both volume our this commercial this. of for The the be activity margin driven line a all case, addressable years. and strong the the opportunity by regulation PureCycle strategy to component is has coming very the bottom the
can for enhance While the and necessary it of intensive, value initial a qualification resin. undertaking unlock time to is be our us
even on a numerous demand product higher today. at good success. even To frankly, there. every see get date, and we've had to tested, application our we succeeded achieved Based it's we've if taken And we've across we've applications, customer iterations few success interest for
of the margins in the demand come. provide to that the percentage and imbalance and our continues our high applications the confidence unit supply growth to FDA Given market, in
excited front, progress we're On made our we've the the since really last update. operational about
customers' the to highlight We production confidence path in tremendous to Ironton's QX the produced that X.X capacity ramp. our is the our X continue nameplate are We commercial needs. There million and meeting match areas surface. there increased pounds and improvement pace under in to
really potential. we more First, heights, capacity as improve our achieved now maximum is we rate. to reach nameplate new learn we This about in time continued sight. facilities have Each feed our is exciting
is monthly by high. onstream in XX% Second, improving December, is This is new which measured time, a almost our appropriately reliability significantly.
continue our market quarter-over-quarter to update expect reliability quarter concludes. on as the and to improvements, we'll performance We each see
investment applications, continue metrics in harder flake of seen quality is odor. we our made performance PP with typically coming that the which our the PCR Running in online post-industrial Ironton. as result pure our feeds the or ability improvements customer Finally, but product, to And pellets to producing improved yet, mechanically practically to is in are direct opacity is in seen is range. XX% is operations we This recycled improve and well. compared in PIR. operating to than a also is recycled sorting Denver This XX% at the and qualify over running and XX% much
for Given we challenging are progress exclusively Ironton now very running this almost is team exciting increases our PCR beyond. even operational confidence more feedstocks, our really and to and
to QX our million ramped also in our qualification pounds, activities which compounding customer is efforts. We X helping
pounds very I've local of This benefit market theoretical million in As economic of at an is is before, and month domestic capacity we the is unit excess compounded X per and making real. for economics. development compounding exciting secured mentioned compounding attractive very the capacity
as for PE also materials We excess purchased from sales finding from co-products the and our sales well purification salable the and are channels additional ]. as process PET our [ other
of X% and channels feed but going emerging still $X.XX pound sales is optimized, net a is we co-product the and X, opportunity our process see per feedstock to $X.XX our to forward. lower X to further at it This co-product and clear goes purification Approximately costs being to exciting range.
in long work lead is Ironton data developing a We in the come have scenes. that for progress out Ironton. lot the our plans has continued Augusta behind on spend The growth. we equipment capital given see for has going to of future on been of There valuable
on in soon. wait our with efforts, execution, commercial to project can't are principal and successes We the coupled are and update invest. technology we the our seeing reasons market and plan our continue improve operations This, real opportunities I to to why expansion
validated we how company opportunity and about front end even excited the in What last only in as well people. saying for us scale proud further A returns that the seen is the in far potential has as our of come of as only good as by the of the has months front its the us. opportunity stakeholders. more financial have X me Let incredibly of I'm company
people as talent, becoming and stakeholders. to the exciting is while an that ever. concept, substantial our continue for entire energetic commercial chapter new world a for and sales the large, company can society the and bridge create at unique projects are in the optimistic grow one and We one growth returns our generating strong to good particularly across as and a This
With that, Jamie? to the Jamie I turn it will for presentation. financial over