Benzinga | Nov 17, 2021 07:28AM EST

Berry Inks Contract With PureCycle For Advanced Recycled Material

* Berry Global Group Inc (NYSE:BERY) has signed an agreement with PureCycle Technologies Inc (NASDAQ:PCT) for Ultra-Pure Recycled (UPR) advanced recycled resin. The financial terms were not disclosed.

* PureCycle's patented recycling process separates color, odor, and contaminants from plastic waste feedstock to transform it into ultra-pure recycled polypropylene.

* The material will be supplied to Berry in summer 2023 for manufacturing at one of ISCC PLUS-certified facilities.

* Berry expects access to recycled plastic will grow to over 600 million pounds per year by 2025.

* Price Action: BERY shares closed higher by 1.45% at $69.45 on Tuesday.