Purecycle Technologies Inc Stock Price, News & Analysis

PureCycle Technologies (PCT) has secured a $33 million investment through a private placement transaction led by Pleiad Investment Advisors , with participation from Sylebra Capital Management and Samlyn Capital, The transaction is expected to close on February 6, 2025.

The funding will support PureCycle's efforts to commercialize its patented dissolution recycling process. CEO Dustin Olson highlighted the company's progress with trials and continued pursuit of commercial success in fiber and other applications.

The private placement involves unregistered shares under the Securities Act of 1933, with PureCycle agreeing to register the resale of these shares with the SEC. The shares cannot be sold in the United States without registration or applicable exemptions.

PureCycle Technologies (NASDAQ:PCT) has received preliminary court approval for a settlement regarding shareholder derivative lawsuits and certain shareholder demand letters. The approval was granted on February 18, 2025, by the U.S. District Court for the District of Delaware.

The company, which specializes in plastic recycling technology, has been directed to disclose the settlement details to shareholders through a Notice of Proposed Settlement of Stockholder Derivative Matters. This notice, along with the complete Stipulation and Agreement of Settlement, is available on PureCycle's investor relations website.

PureCycle operates using a patented dissolution recycling technology licensed from Procter & Gamble, designed to transform polypropylene plastic waste (#5 plastic) into their PureFive™ resin product by removing color, odor, and other impurities.

PureCycle Technologies (NASDAQ:PCT) reported significant progress in Q4 2024, with notable improvements at their Ironton Facility reaching nearly 70% onstream time in December and hitting a max feed rate of 12,500 pounds per hour in February.

The company achieved key commercial milestones, including their first major sale to Drake Extrusion Inc. for continuous filament yarns and a partnership with Churchill Container for the 'Run It Back' line of recyclable stadium products. PureFive™ resin trials are ongoing with over 20 companies, including major consumer packaged goods manufacturers and packaging converters.

The Denver, PA sorting facility is now operational, creating high-quality polypropylene bales and finding outlets for waste streams. The company recently raised approximately $33 million through the sale of 4.1 million shares to investors including Pleiad Investment Advisors, Sylebra Capital Management, and Samlyn Capital.

PureCycle Technologies (PCT) has announced its upcoming fourth quarter 2024 corporate update conference call, scheduled for February 27, 2025, at 10:00 a.m. EST. The company will release a press release discussing corporate developments and Q4/FY2024 activities prior to the call.

The conference call will feature a live Q&A session for analysts, and management will address investor questions submitted in advance via email. A replay of the corporate update will be available through the company's website until February 26, 2026.

PureCycle Technologies (PCT) and Churchill Container have launched 'Run It Back', a new line of cups and containers made with up to 100% recycled PureFive™ resin. The products will be available to professional and collegiate sports teams for sustainable souvenir items in 2025.

The initiative builds on PureCycle's PureZero™ program, which has already helped recycle over 700,000 pounds of waste material at stadiums during the last two seasons through partnerships with professional football teams. The program aims to improve recycling efforts through education and best practices implementation.

The collaboration demonstrates a circular economy model where polypropylene items discarded in recycling bins at venues can be purified by PureCycle and reused by Churchill to produce new souvenir cups, targeting sports, theater, and restaurant industries.

PureCycle Technologies (PCT) has secured a $33 million financing transaction with participation from Pleiad Investment Advisors , Sylebra Capital Management, and Samlyn Capital, . The transaction is expected to close on February 6, 2025.

The raised capital will support PureCycle's efforts to commercialize its patented dissolution recycling process. CEO Dustin Olson highlighted the company's progress with trials and ongoing pursuit of commercial success in fiber and other applications.

The investment was made through a private placement of common stock shares, which are not registered under the Securities Act of 1933. PureCycle has agreed to register the resale of these shares with the SEC.

PureCycle Technologies (NASDAQ:PCT) has announced the sale of nearly 500,000 pounds of resin to Drake Extrusion Inc., North America's leading manufacturer of colored filament yarn. The sale follows Drake's successful production of continuous fiber using PureCycle's PureFive™ resin, produced from 100% post-consumer recycled feedstock at the Ironton, Ohio facility.

Drake has successfully tested PureCycle's material under various conditions, producing multiple fiber types that exceeded expectations. The development is significant as approximately 20% of global virgin polypropylene supply is used for fiber and yarn, and until now, there hasn't been a reliable recycling alternative. The partnership aims to transform the industry by introducing recycled PP solutions for textiles, with applications ranging from outdoor upholstery to apparel.

PureCycle's R&D team continues testing various compounds to increase recycled content in fiber applications and is working on compounds for staple fibers targeting carpet and automotive industries.

PureCycle Technologies (PCT) reported significant progress in Q3 2024, achieving key production milestones at its Ironton Facility, including processing one million pounds of feedstock weekly, 200,000 pounds daily, and feed rates exceeding 10,000 pounds per hour. The company commissioned a new 325,000 square foot sorting facility in Denver, Pennsylvania, improving polypropylene concentration from 60-80% to 90-95%. PureCycle raised $108 million through bond sales and transactions with investors, ending Q3 with $93.7 million in cash. The company is advancing commercial trials with major manufacturers, including P&G, and expects meaningful sales growth in 2025.

PureCycle Technologies (Nasdaq:PCT) has announced its upcoming third quarter 2024 corporate update conference call, scheduled for Thursday, November 7, 2024, at 10:00 a.m. EST. The company will release a press release detailing corporate developments and Q3 activities prior to the call. The event will include a live Q&A session for analysts, and management will address investor questions submitted in advance to investorquestion@purecycle.com. A replay will be available after 3:00 p.m. Eastern Time until November 6, 2025.