Welcome to our dedicated page for Purecycle Technologies news (Ticker: PCT), a resource for investors and traders seeking the latest updates and insights on Purecycle Technologies stock.
PureCycle Technologies Inc. (PCT) delivers innovative plastic recycling solutions through its patented purification process, transforming polypropylene waste into high-performance sustainable materials. This news hub provides investors and industry stakeholders with essential updates on operational milestones, technological advancements, and market developments.
Access timely press releases covering earnings reports, strategic partnerships, and production capacity expansions. Our curated news collection enables informed decision-making by tracking PCT's progress in scaling its solvent-based recycling technology and expanding applications across packaging, automotive, and consumer goods sectors.
Discover updates on PureCycle's sustainability initiatives, regulatory compliance achievements, and quality certifications. Content is sourced directly from company filings and verified partners to ensure reliability. Bookmark this page for continuous access to PCT's evolving role in advancing circular economy solutions through industrial-scale plastic recycling innovation.
PureCycle Technologies (Nasdaq: PCT) provided an update on its Ironton, Ohio purification facility, highlighting improved reliability and product quality following the resumption of operations on May 20, 2024.
The facility experienced a severe storm-induced power outage on May 22 but resumed operations on May 30, initially processing 2,500 pounds per hour and subsequently reaching 6,000 pounds per hour. Since then, the facility has produced approximately 265,000 pounds of pellets.
CEO Dustin Olson emphasized over 100 improvements made to the facility to enhance reliability and consistency. The company plans to increase feed rates and introduce higher co-product two concentrations to assess the upgrades' impact.
Additional updates will be provided before the end of the fiscal second quarter.
PureCycle Technologies, Inc. provided a corporate update for the first quarter ending March 31, 2024, highlighting the production activities in Ironton, resin provision to customers, and purification technology development. The Company reported a net loss of $85.6 million for Q1 2024 due to various factors. PureCycle announced the sale of $37.5 million of Series A Revenue Bonds to Pure Plastics , involving the exchange of Pure Plastics Term Loan for Series A, B, and C Revenue Bonds. The Company will hold a conference call on May 7, 2024, to discuss recent developments.
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