PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, announced today the plan to bring one billion pounds of installed capacity online before 2030 across the United States, Europe and Asia. This plan is catalyzed by the execution of binding agreements for a $300 million capital raise. The Company entered into a transaction with a series of new and existing investors, including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors and Sylebra Capital Management.
PureCycle CEO Dustin Olson said, “Following significant production progress at the Ironton Facility, momentum in our commercialization efforts and confidence in financing efforts, the time for growth is now. Over the last several years, we have continued to invest time and resources in progressing our global growth plans and this capital will allow us to execute on those plans. We’re excited to share these attractive investment projects with investors.” Olson added, “This is an impressive group of investment organizations and we are thankful for their continued support.”
This capital raise coincides with the start of a new partnership with IRPC Public Company Limited (IRPC), Southeast Asia’s petrochemical pioneer, to build a new polypropylene (PP) recycling facility in Thailand. This will allow PureCycle to construct a 130-million-pound line at IRPC’s eco-industrial zone in Rayong, Thailand.
IRPC is the first fully integrated petrochemical operator in Southeast Asia. Its production structure comprises petroleum and petrochemical complexes complete with utilities and infrastructure supporting the operations, including a deep-sea port, oil depots and power plants. PureCycle can leverage this existing site infrastructure to reduce the costs of construction activities. Construction of this facility will begin in the second half of 2025 and is expected to become operational in mid-2027.
This partnership and the progress made with our European partners enhanced the cadence of the Company’s growth plans. The company will build one 130-million-pound line in both Thailand and Antwerp. Then, after integrating the learnings from Ironton into the base design package, the Company will enhance the Augusta facility to house a larger Gen 2 line. The final Gen 2 design for Augusta is expected to have a capacity of greater than 300 million pounds per year, before compounding, and the actual design capacity will be announced in early 2026 following the completion of the engineering activities.
Both Thailand and Antwerp offer PureCycle access to mature feedstock opportunities, strong infrastructure synergies and low-risk expansion opportunities. PureCycle is currently advancing the permitting process in Europe and expects to receive the final permits in 2026. The Antwerp Facility is projected to be operational in 2028.
Construction is expected to begin on the Gen 2 facility in Augusta in mid-2026. This line will be fully integrated with pre-processing (PreP) and compounding assets, and the larger plant size will allow us to better leverage the greenfield expansion at Augusta. PureCycle expects to have the Augusta PreP facility operational in mid-2026 and the first Augusta purification line operational in 2029.
Advisors
J.P. Morgan Securities LLC is acting as lead placement agent and Cantor Fitzgerald & Co. is acting as joint placement agent for the transaction. Jones Day is acting as legal advisor to PureCycle and Davis Polk & Wardwell LLP is acting as legal advisor to the placement agents.
The offer and sale of the foregoing securities are made in a transaction not involving a public offering, and the foregoing securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or applicable state securities laws, and are being issued and sold in reliance on Section 4(a)(2) of the Securities Act. The securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and other applicable securities laws. PureCycle has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the common shares issuable upon conversion of the Convertible Preferred Shares.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Contact
Christian Bruey
E-Mail: cbruey@purecycle.com
About PureCycle Technologies
PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented dissolution recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as #5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from #5 plastic waste resulting in our PureFive™ resin that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com
Source
PureCycle Technologies, press release, 2025-06-17.
Supplier
IRPC Public Company Limited
PureCycle Technologies
Share
Renewable Carbon News – Daily Newsletter
Subscribe to our daily email newsletter – the world's leading newsletter on renewable materials and chemicals
