300-Million-Dollar Capital Raise Purecycle Technologies Targets One Billion Pounds of Installed Capacity Before 2030

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PureCycle Technologies

Glatt Ingenieurtechnik GmbH

Pörner Ingenieurgesellschaft mbH

Purecycle Technologies has plans to expand its polypropylene recycling capacity by bringing one billion pounds of installed capacity online before 2030 across the United States, Europe and Asia.

Florida/USA – Purecycle Technologies has recently announced its plan to bring one billion pounds of installed capacity online before 2030 across the United States, Europe and Asia. This plan is catalyzed by the execution of binding agreements for a 300-million-dollar capital raise. The Company entered into a transaction with a series of new and existing investors, including Duquesne Family Office, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors and Sylebra Capital Management.

Purecycle CEO Dustin Olson said, "Following significant production progress at the Ironton Facility, momentum in our commercialization efforts and confidence in financing efforts, the time for growth is now. Over the last several years, we have continued to invest time and resources in progressing our global growth plans and this capital will allow us to execute on those plans. We're excited to share these attractive investment projects with investors." Olson added, "This is an impressive group of investment organizations and we are thankful for their continued support."

This capital raise coincides with the start of a new partnership with IRPC Public Company (IRPC), Southeast Asia's petrochemical pioneer, to build a new polypropylene (PP) recycling facility in Thailand. This will allow Purecycle to construct a 130-million-pound line at IRPC's eco-industrial zone in Rayong, Thailand.

IRPC is the first fully integrated petrochemical operator in Southeast Asia. Its production structure comprises petroleum and petrochemical complexes complete with utilities and infrastructure supporting the operations, including a deep-sea port, oil depots and power plants. Purecycle can leverage this existing site infrastructure to reduce the costs of construction activities. Construction of this facility will begin in the second half of 2025 and is expected to become operational in mid-2027.

This partnership and the progress made with our European partners enhanced the cadence of the Company's growth plans. The company will build one 130-million-pound line in both Thailand and Antwerp. Then, after integrating the learnings from Ironton into the base design package, the Company will enhance the Augusta facility to house a larger Gen 2 line. The final Gen 2 design for Augusta is expected to have a capacity of greater than 300 million pounds per year, before compounding, and the actual design capacity will be announced in early 2026 following the completion of the engineering activities.

Both Thailand and Antwerp offer Purecycle access to mature feedstock opportunities, strong infrastructure synergies and low-risk expansion opportunities. Purecycle is currently advancing the permitting process in Europe and expects to receive the final permits in 2026. The Antwerp Facility is projected to be operational in 2028.

Construction is expected to begin on the Gen 2 facility in Augusta in mid-2026. This line will be fully integrated with pre-processing (Prep) and compounding assets, and the larger plant size will allow the firm to better leverage the greenfield expansion at Augusta. Purecycle expects to have the Augusta Prep facility operational in mid-2026 and the first Augusta purification line operational in 2029.

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