Securing $300 million funds for global expansion of PureCycle operations.
Growing Greener with PureCycle:
PureCycle Technologies, Inc. (PCT) is heading towards a greener future following a recent announcement of binding agreements worth a colossal $300 million to fuel its global growth strategy. With an ambitious target of reaching one billion pounds of installed polypropylene (PP) recycling capacity and a projected $600 million in annual EBITDA by 2030, PureCycle is poised to make a significant mark on the world stage.
The capital raise, coming in the form of a Series B convertible perpetual preferred stock offering, has garnered the participation of notable investors such as Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors, and Sylebra Capital Management. The Convertible Shares will carry an annual dividend of 7% and be convertible at a price premium to the 10-day VWAP of PureCycle's common stock as of mid-June 2025.
Proceeds from the transaction will be used to fund expansion projects across the U.S., Europe, and Asia. The deal is anticipated to close on June 20, 2025, and will spur PureCycle's growth ambitions considerably.
To further solidify its global presence, PureCycle has partnered with IRPC Public Company Ltd., Southeast Asia's largest integrated petrochemical company. The collaboration aims to build a 130-million-pound PP recycling facility in Rayong, Thailand, with construction slated for the second half of 2025 and operations set to commence in mid-2027.
In addition, PureCycle plans to establish another 130-million-pound facility in Antwerp, targeting final permitting in 2026 and operations from 2028. Stateside, PureCycle will develop a Gen 2 purification line in Augusta, Georgia, with construction commencing in mid-2026 and full operations by 2029. The Augusta site will boast integrated pre-processing and compounding capabilities and is projected to exceed 300 million pounds in annual capacity.
CEO Dustin Olson expressed his delight, stating, "These investments will enable us to make an impact on a grand scale through sustainable plastic solutions." With the support of its investment partners and commercial momentum from the Ironton facility, PureCycle is ready to execute its long-term vision.
Join PureCycle in their journey towards a more sustainable world by staying tuned for further details on the capital raise and growth plans, releasing on a conference call later this week. As of now, PCT is trading at $14.47, recording an impressive 27.88 percent increase on the Nasdaq. For additional insights, get in touch with our editorial team at editorial@our website.
Key Insights:- PureCycle's primary focus is on a $300 million Series B capital raise to boost its worldwide growth strategy, with a significant emphasis on polypropylene recycling capacity augmentation in Europe.- The financing round involves Series B convertible perpetual preferred stock, featuring a 7% annual dividend and a conversion price determined at a 30% premium to the 10-day VWAP of PureCycle's common stock as of mid-June 2025.- New and existing investors, such as Duquesne Family Office LLC and IRPC Public Company Ltd., are participating in the capital raise to partner with PureCycle and support its ambitious expansion plans.- The strategy aims to realize one billion pounds of installed recycling capacity and a projected $600 million in annual EBITDA by 2030, demonstrating PureCycle's commitment to sustainable plastic solutions.
The Series B capital raise worth $300 million for PureCycle Technologies will be invested in expanding its operations across continents, including the US, Europe, and Asia, with a primary focus on increasing polypropylene recycling capacity, particularly in Europe. This strategic investment by both new and existing partners, such as Duquesne Family Office LLC and IRPC Public Company Ltd., signifies their support for PureCycle's ambitious business growth and environmental-science objectives.
