PureCycle Technologies (PCT) Company Report

PureCycle (PCT) achieved record quarterly PureFive™ production of 7.2 million pounds at its Ironton facility in Q3 2025, with September marking a new monthly record of 3.3 million pounds.
Commercial progress includes the first P&G application passing all tests with sales expected in Q4, and white thermoformed coffee lids made with PureFive™ resin expected to ship for a top 5 global QSR in Q4. The company also received REACH Certification, enabling sales into Europe.
Unrestricted cash decreased by $49.7 million from $284.1 million on June 30, 2025, to $234.4 million on September 30, 2025, primarily due to $16.5 million in operations expenses and $12.9 million in debt service.
Growth initiatives include the progression of the Thailand project and the acceptance of a European Innovation Fund proposal for a grant agreement of up to €40 million expected by the end of Q1 2026.

Nov 6, 2025, 10:00 PM

Presentation

PCT Reports Strong Q3 2025 Operational Progress and Commercial Traction

PCT

Earnings

New Projects/Investments

Guidance Update

PureCycle Technologies (PCT) reported record production in Q3 2025, with Ironton producing 7.2 million lbs and September being the highest month at 3.3 million lbs. The Denver facility processed 9.4 million lbs of feedstock in Q3 and successfully added a second shift, with a third shift planned for Q4 to increase capacity to approximately $100 million annually.
The company is making significant commercial progress, with material scheduled to ship to P&G's converter in Q4 2025 for products hitting shelves in early 2026. PCT also expects to ship to a top five Quick-Service Restaurant (QSR) group in Q4 and projects initial annual volumes from key customers (Emerald, P&G, QSR coffee lids) to be in the range of $40 million-$50 million.
International growth plans are progressing, with the Antwerp facility's permitting on schedule and an accepted proposal for an EU Innovation Fund grant of up to EUR 40 million expected by the end of Q1. Debt financing efforts for the Thailand project are also on track for financial close.
As of Q3 2025, PCT held $234 million in unrestricted cash and $87 million in revenue bonds. Operational and corporate spend for Q3 2025 was $37 million, a slight decrease from $39 million in Q2 2025.

Nov 6, 2025, 10:00 PM

Transcript

PCT Reports Q3 2024 Production Increase and Improved Liquidity

PCT

Earnings

New Projects/Investments

Guidance Update

PureCycle Technologies (PCT) reported 3.5 million lbs of Ironton rPP pellet production in Q3 2024, a significant increase from 1.2 million lbs in Q2 2024.
The company's unrestricted cash increased by $72.8 million to $83.7 million as of September 30, 2024, primarily due to $90.0 million from capital market transactions and $18.0 million from additional bond sales.
PCT achieved all three production milestones in Q3 2024, with the Denver, PA PreP facility online and compounding operations running reliably.
Commercial sales for the Fiber segment were anticipated to begin in Q4 2024, with Injection Molding Automotive projected for commercial sales in Q1 2025, and Injection Molding Packaging and Film Packaging in Q2/Q3 2025.

Nov 6, 2025, 10:00 PM

Presentation

PureCycle Technologies Provides Q3 2025 Corporate Update

PCT

Earnings

New Projects/Investments

Debt Issuance

PureCycle Technologies reported recognized revenue of approximately $2.4 million for Q3 2025 and produced a record 7.2 million pounds of pellets at its Ironton Facility, with a monthly record of 3.3 million pounds in September.
The company anticipates completing the installation of Ironton compounding operations by year-end, which will enable 100 million annual pounds of single-pellet solutions.
Commercial advancements include planned Q4 2025 shipments of PureFive™ resin to a top five global QSR and to Procter & Gamble's converter for detergent bottle caps, with products expected on shelves in early 2026.
Expansion efforts are progressing, with the Thailand project securing feedstock Letters of Intent for over 100 million pounds annually and targeting mechanical completion in 2027, while an application for a €40 million grant from the European Innovation Fund has been accepted.
The maturity date of the $200 million Revolving Credit Facility was extended from September 30, 2026 to September 30, 2027 through a Tenth Amendment to the Credit Agreement. Unrestricted cash decreased by $49.7 million to $234.4 million as of September 30, 2025.

Nov 6, 2025, 9:09 PM

8-K

PureCycle issues $300 million Series B convertible preferred stock

PCT

Convertible Preferred Issuance

PureCycle entered into subscription agreements on June 16, 2025 to sell 300,000 shares of Series B Convertible Perpetual Preferred Stock at $1,000 per share, closing on June 20, 2025 and generating ~$300 million in gross proceeds.
The Series B Preferred Stock ranks senior to common stock, pari passu with other parity securities and junior to Series A Preferred Stock and all indebtedness, and carries a 7% cumulative dividend, payable in cash or in kind at the company’s option .
Shares are convertible at any time at an initial conversion price of $14.02 per share (30% premium to the 10-day VWAP), with optional and mandatory conversion triggers (including a post-four-year market-price condition) and “make-whole” adjustments.
The company must use commercially reasonable efforts to file a registration statement covering the resale of the underlying common shares within 30 days of closing and have it declared effective within 60 days (or 90 days if subject to full SEC review).

Jun 23, 2025, 12:00 AM

8-K

Purecycle unveils global expansion plan with new Antwerp and Thailand plants

PCT

New Projects/Investments

Convertible Preferred Issuance

Purecycle’s dissolution technology delivers high yield, high-quality recycled polypropylene by “molecular washing” rather than breaking polymers, resulting in a lower carbon footprint and cost advantage over mechanical or chemical recycling.
The Ironton plant has demonstrated ~90% uptime and produced pellets for 65 consecutive days, validating the technology’s reliability at scale.
The company secured a lease in the Port of Antwerp to leverage local infrastructure and announced a 100%-owned 220 M USD facility in Rayong, Thailand, targeting 1.4–1.7 USD CapEx per pound versus 3.4 USD at Ironton.
A recent convertible capital raise underpins a growth plan to install 1 billion pounds of recycling capacity by 2029, positioning Purecycle to approach CapEx and OpEx parity with virgin polypropylene.

Jun 18, 2025, 4:00 PM

PureCycle Technologies Secures $300M and Fuels Global 1B-lb Recycling Expansion & $2B CapEx Plan

PCT

Convertible Preferred Issuance

New Projects/Investments

PureCycle closed a $300 million Series B Convertible Perpetual Preferred Stock raise at 7% interest with a 30% conversion premium, powering stage-one growth .
Ambitious expansion plans target 1 billion lbs of recycling capacity across Thailand, Antwerp, and Augusta to achieve a run-rate EBITDA > $600 million post-expansion .
A key project is a 130M-lb PP recycling facility in Thailand (construction H2 2025, operational mid-2027) with CapEx < $2/lb and 40% lower operating costs vs. Ironton .
Additional projects include a recycling plant in Belgium (operational mid-2028) and two Gen 2 lines—Augusta (pre-processing by mid-2026, purification by 2029) and a TBD site—adding over 300M lbs/yr capacity .
The nearly $2B total CapEx roadmap is underpinned by the raise, ~$200M pre-purchased equipment, warrant exercises, SOPA bonds, ~$1.2B project debt, and $300M operating cash .
Efficiency gains target CapEx reductions to $1.50–1.75/lb (Thailand Gen 1) and $2.00–2.25/lb (Gen 2), along with a 40–50% decrease in operating costs vs. Ironton .
Insights from the Ironton facility include ~87% uptime in April/May and 65 consecutive days of production, informing future plant designs .

Jun 17, 2025, 2:51 PM

Presentation Morningstar 8-K

PureCycle Q1 2025 Results & Earnings Update

PCT

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Debt Issuance

Reported first revenues (~$1.6MM) in Q1 2025, marking a major commercialization milestone .
Secured strong financing with ~$27MM via revenue bonds and ~$33MM from common stock placement .
Achieved robust operational performance with nearly 90% onstream time in April and production of 4.3 million pounds of resin .
Advanced a robust pipeline with over 30 active trials across film, fiber, and automotive applications – including industrial and BOPP film tests .
Introduced two new product lines, PureFive Ultra and PureFive Choice, enhancing product flexibility for future revenue acceleration .
Maintained consistent daily pellet output with an inventory of ~14MM lbs .
Expressed confidence in ramping up sales volumes later in the year .

May 7, 2025, 9:01 PM

Transcript Presentation 8-K

Earnings Transcripts

Quarterly earnings call transcripts for PureCycle Technologies.

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