PureCycle Technologies, Inc. (Nasdaq: PCT), today, announced that it has signed a €40 million grant agreement from the Innovation Fund with the European Climate, Infrastructure and Environment Executive Agency (CINEA) to fund its ‘ASTRA PP’ project in the NextGen District at the Port of Antwerp-Bruges. Yesterday, CINEA announced that a total of 54 projects selected under the Innovation Fund 2024 Call for Net-Zero Technologies have signed their grant agreements. In total, the projects will receive €2.7 billion of funding.
As part of Project ‘ASTRA PP,’ PureCycle will install a polypropylene (PP) dissolution recycling facility in the Port of Antwerp-Bruges, in Belgium designed for an annual production capacity of 59,000 tonnes (130 million lbs.) of PureFive® resin. The project name, ‘ASTRA PP’, pays homage to PureCycle’s facility site in the NextGen District and stands for Advanced Solvent-based Technology for Recycling in Antwerp for Polypropylene.
The project will contribute to the decarbonization and circularity objectives of the European Green Deal, the Circular Economy Action Plan and the Clean Industrial Deal by providing circular alternatives to conventional fossil-raw-materials for PP production. When completed, the project will provide PureCycle’s customers with solutions for complying with European Union (EU) regulations, such as the recycled content targets in the Packaging & Packaging Waste Regulation (PPWR) and the End-of-Life Vehicles Regulation (ELVR).
“This grant from the Innovation Fund is a significant validation of our dissolution recycling technology and Europe’s commitment to building a truly circular economy for plastics,” said Dustin Olson, PureCycle CEO. “The Antwerp facility represents PureCycle’s strategic expansion into one of the world’s most demanding regulatory environments for sustainability, and this funding supports our goal of delivering recycled polypropylene at scale to European brand owners and manufacturers. We are proud to be part of the solution that policymakers, consumers and brands are demanding.”
The Antwerp facility is expected to create positive impacts at an economy-wide level across sectors by providing circular, made-in-Europe PP products that meet the growing customer demand for more sustainable solutions. The ‘ASTRA PP’ project is expected to reach greenhouse gas emission avoidance of 85% relative to conventional fossil-raw-material-based polypropylene production, according to the specific calculation methodology of the Innovation Fund.
In addition to signing this grant agreement, PureCycle remains actively engaged with Flanders regional officials and has applied for Flemish regional support for additional funding for the ‘ASTRA PP’ project.
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, 2026-03-25.
Supplier
European Climate, Infrastructure and Environment Executive Agency (CINEA)
European Commission
European Union
Port of Antwerp
PureCycle Technologies
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