PureCycle Technologies stock surges after $300 million capital raise

June 17, 2025 04:43 AM PDT | By EODHD

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PureCycle Technologies stock surges after $300 million capital raise — Image source: Kalkine Media

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Investing.com -- PureCycle Technologies, Inc. (NASDAQ:PCT) stock jumped 12% after the plastic recycling company announced a $300 million capital raise and outlined ambitious growth plans to reach one billion pounds of installed capacity by 2030. The capital infusion comes from a mix of new and existing investors, including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors, and Sylebra Capital Management. The funding will support PureCycle’s global expansion strategy across the United States, Europe, and Asia. PureCycle also revealed a new partnership with IRPC Public Company Limited to build a polypropylene recycling facility in Thailand.

The planned facility will have a 130-million-pound capacity line at IRPC’s eco-industrial zone in Rayong. Construction is scheduled to begin in the second half of 2025, with operations expected to start in mid-2027. The company plans to construct another 130-million-pound line in Antwerp, Belgium, with operations projected to begin in 2028. Additionally, PureCycle will enhance its Augusta facility to house a larger "Gen 2" line with capacity exceeding 300 million pounds per year. Construction on this facility is expected to start in mid-2026, with the pre-processing facility operational by mid-2026 and the first purification line running by 2029.

"Following significant production progress at the Ironton Facility, momentum in our commercialization efforts and confidence in financing efforts, the time for growth is now," said PureCycle CEO Dustin Olson. "This capital will allow us to execute on those plans." The financing will be structured as Series B convertible perpetual preferred stock with a conversion price equal to a 30% premium to the 10-day volume-weighted average price of the company’s common shares following market close on June 16, 2025. The shares will pay 7% annual cumulative dividends, payable in kind or cash at the company’s option. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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