Purecycle Technologies Inc Stock Price, News & Analysis

PureCycle Technologies (NASDAQ: PCT) announced a corporate update for Q3 2022, highlighting significant operational progress at its Ironton, Ohio facility. The company has secured offtake agreements for 106 million pounds of ultra-pure recycled resin, exceeding its capacity by 111%. Additionally, a joint venture with SK geo centric for a new facility in South Korea has been finalized. Despite challenges in financing, PureCycle aims to achieve operational revenue in 2023 and expects the Augusta facility's completion by late 2024. Liquidity is currently at $416.1 million, but construction costs have escalated by $10 million due to various external factors.

PureCycle Technologies, Inc. (NASDAQ: PCT) announced a partnership with the League of Women Voters to recycle over 15,000 political signs in Central Florida after the November 8th elections. The initiative aims to divert 10,000 pounds of plastic waste from landfills and waterways, promoting sustainability. Starting November 9th, volunteers will collect signs for recycling into ultra-pure recycled resin. PureCycle's proprietary technology allows for the transformation of polypropylene waste, aiding environmental cleanliness and creating a renewable resource for future use.

PureCycle Technologies (PCT) and Milliken & Company have announced the launch of a groundbreaking fully sustainable, odorless concentrate for polypropylene (PP), derived from a recycled resin carrier. This innovative product enhances circularity by enabling the use of 100% recycled materials and reduces the carbon footprint of PP by approximately 35% compared to virgin alternatives. The concentrate, utilizing Milliken's Millad® NX® 8000 ECO clarifier, is designed to meet high-quality standards without requiring operational adjustments from customers, thus advancing sustainable practices in the plastics industry.

On October 20, 2022, SKGC and PureCycle Technologies formed a joint venture to build Asia's first polypropylene recycling plant in Ulsan, South Korea, with a capacity of up to 60,000 tons annually. Both companies will hold 50% ownership, contributing their unique strengths—SKGC's marketing capabilities and PureCycle's patented purification technology. The facility, slated for completion in Q2 2025, aims to transform contaminated plastic into ultra-pure recycled resin, addressing the growing demand for sustainable plastic solutions while reducing plastic pollution.

PureCycle Technologies (Nasdaq: PCT) has announced a conference call scheduled for November 10, 2022, at 11:00 a.m. ET. This call aims to update investors on recent corporate developments and will cover activities from the third quarter of 2022. A press release detailing these developments will be issued prior to the call. Interested participants must register in advance to receive dial-in information. The conference call will include a live Q&A session and be available for replay until November 10, 2023 on the company's website.

PureCycle Technologies (PCT) announced its second-quarter 2022 update, highlighting significant operational progress. The company is set to complete project debt financing by Q4 2022, funding Augusta's purification lines and three PreP facilities. The FDA prenotification letter confirms its food-grade recycled materials use. The Ironton facility in Ohio is on track for mechanical completion by Q4 2022, with pellet production expected by year-end. Liquidity stands at $516.4 million, ensuring sufficient capital for ongoing projects.