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PureCycle Technologies, Inc. (PCT) is a Florida-based company specializing in the recycling of polypropylene waste into ultra-pure recycled (UPR) resin. Using a patented purification recycling technology originally developed by The Procter & Gamble Company, PCT restores waste polypropylene to near-virgin quality, enabling its reuse in various applications. The company aims to support sustainability goals by reducing polypropylene waste in landfills and oceans while providing high-quality recycled resin to multinational partners.
- Ultra-Pure Recycled (UPR) Resin - Produces high-quality recycled polypropylene resin with properties nearly identical to virgin polypropylene, suitable for reuse in diverse applications.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brad Kalter Executive | General Counsel and Corporate Secretary | None | Brad Kalter joined PCT in January 2021. He oversees legal functions and has held senior legal roles at United Insurance Holdings Corp. and Exide Technologies. | |
Dustin Olson Executive | Chief Executive Officer | None | Dustin Olson has been the CEO of PCT since August 9, 2022. He previously served as COO and Chief Manufacturing Officer at PCT. He has a background in chemical engineering and business administration. | View Report → |
Greg Barta Executive | Corporate Controller and Chief Accounting Officer | None | Greg Barta joined PCT on December 2, 2024, as Corporate Controller and CAO. He has a background in corporate accounting and compliance. | |
Jaime Vasquez Executive | Chief Financial Officer | None | Jaime Vasquez became the CFO of PCT on February 19, 2024. He has over 20 years of experience as a financial executive, with previous roles at C&D Technologies and AK Steel. | |
Allen Jacoby Board | Independent Director | Chief Strategy Officer and Senior Vice President of Corporate Development at Milliken & Company | Allen Jacoby joined the PCT Board on March 15, 2022. He has extensive experience in the chemicals and plastics industries. | |
Dan Coombs Board | Non-Executive Chairman of the Board | Trustee and Chairman for the Corporate Council at the American Institute of Chemical Engineers Foundation | Dan Coombs transitioned to Non-Executive Chairman on August 5, 2024, after serving as Executive Chairman. He has a background in chemical engineering and leadership. | |
Fernando Musa Board | Independent Director | Operating Partner at Advent International, Senior Advisor at Bain & Company | Fernando Musa joined the PCT Board in 2021. He has over 30 years of experience in strategic management and leadership roles in the chemical sciences and petrochemical industries. | |
Steven Bouck Board | Independent Director | None | Steven Bouck joined the PCT Board on March 15, 2022. He has over 20 years of leadership experience in the waste and recycling industry, particularly in corporate finance and environmental services. | |
Tanya Burnell Board | Independent Director | Vice President, Growth Equity and Sustainability at CC Industries, Inc. | Tanya Burnell joined the PCT Board in 2021 and chairs the Audit and Finance Committee. She has a background in investment banking and corporate development. |
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Given that you've achieved production milestones at Ironton but acknowledged potential constraints as you push towards full capacity, can you provide a concrete timeline for when you expect to reach nameplate capacity and what specific challenges you anticipate in this ramp-up?
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With operating cash expenses reduced to $23.5 million in Q3 from nearly $35 million in the previous quarter, and expectations to lower cash burn to around $8 million in Q4, what specific measures are contributing to this significant reduction, and is this level of cash burn sustainable as you scale operations?
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Regarding the Augusta project, you mentioned $11 million in commitments and plans to secure financing; can you elaborate on your progress in obtaining funding, potential sources of financing, and the impact on your timeline if financing is delayed?
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Following the termination of the joint venture with SK, how does this affect your international expansion plans, and what steps are you taking to establish new partnerships or joint ventures to bring your technology to other regions?
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As you're building inventory and conducting customer trials, what is your strategy to convert these trials into definitive sales contracts, and how confident are you in achieving meaningful revenue in 2025, given the lengthy qualification processes in industries like automotive and fiber?
Recent developments and announcements about PCT.
Earnings
New Earnings (Q4 2024)
·Feb 27, 2025, 9:14 PMView full earnings summary →PureCycle posted strong Q4 results with production near nameplate capacity (12,500 lbs/hr) and $1.36/lb pricing. Demand surges with P&G trials, but monthly cash burn at $9M+ and only $15M in unrestricted cash raise liquidity concerns. Financing moves are pivotal.
8-K Filings
8-K Filing
·Feb 24, 2025, 2:31 PMFinancial ExhibitsOther EventsView full 8-K filing →PureCycle Technologies announced an 8-K filing for a prospectus supplement registering up to 4,091,293 shares for resale following a private placement financing. Jones Day confirmed the shares are validly issued and fully paid.