PureCycle Technologies secures $300m to scale global plastic recycling

PureCycle Technologies, Inc. (Nasdaq: PCT), the American plastic recycling innovator, has announced the execution of binding agreements for a $300 million capital raise to support its global expansion. The June 17, 2025 announcement confirms that PureCycle intends to bring online one billion pounds of installed polypropylene (PP) recycling capacity by 2030 across the United States, Europe, and Asia, projecting annual EBITDA of approximately $600 million when all facilities are operational.

This strategic capital raise is backed by a group of new and existing institutional investors, including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors, and Sylebra Capital Management. The investment will be executed through Series B convertible perpetual preferred stock, featuring a 30 percent conversion premium based on PureCycle’s 10-day volume-weighted average share price as of June 16, 2025. The preferred shares carry a 7 percent cumulative annual dividend, payable in kind or cash at PureCycle’s discretion. The transaction is expected to close on June 20, 2025.

What is PureCycle Technologies planning to build with its newly secured $300 million investment?

The $300 million funding package is designed to accelerate construction and development of three major projects: a 130-million-pound recycling facility in Rayong, Thailand; a similar-capacity facility in Antwerp, Belgium; and a next-generation line with over 300 million pounds of capacity at the company’s Augusta, Georgia site. Together, these initiatives form the backbone of PureCycle’s long-term target of installing one billion pounds of purification capacity globally before the end of the decade.

PureCycle’s leadership said the new capital and engineering roadmap allow it to transition from proof-of-concept to scalable industrial operations, leveraging experience gained from its Ironton, Ohio plant. CEO Dustin Olson stated that now is the time to execute, citing strong commercial momentum and increasing institutional support.

Why is the partnership with IRPC in Thailand considered a strategic milestone in PureCycle’s Asia expansion?

A central piece of PureCycle’s Asia growth strategy is its new partnership with IRPC Public Company Limited, a fully integrated petrochemical player based in Thailand. IRPC operates a comprehensive petrochemical and energy complex, complete with deep-sea ports, power plants, and logistics infrastructure. The collaboration will allow PureCycle to build a 130-million-pound PP recycling line within IRPC’s eco-industrial zone in Rayong, reducing capital expenditure through co-location synergies and infrastructure integration.

Construction of the Rayong facility is scheduled to begin in the second half of 2025, with operations expected to commence by mid-2027. For PureCycle, this facility marks its first commercial-scale footprint in Asia and positions the firm to tap into the region’s fast-growing demand for circular manufacturing and sustainable packaging solutions.

What are the development timelines and capacity projections for the Antwerp and Augusta facilities?

In Belgium, PureCycle is actively progressing through the permitting phase for a 130-million-pound recycling facility in Antwerp. The company expects to receive all final environmental and operational approvals by 2026. Construction will begin shortly thereafter, with operational launch targeted for 2028. Antwerp was selected for its mature petrochemical ecosystem, established feedstock supply, and logistical advantages.

The Augusta, Georgia facility represents a larger strategic leap. PureCycle is applying lessons from its Ironton facility to design a Gen 2 purification line with a capacity exceeding 300 million pounds annually before compounding. The final engineering package is expected to be completed by early 2026. Construction will begin in mid-2026, starting with a preprocessing (PreP) plant, followed by the main purification facility. The Augusta PreP facility is slated to begin operations in 2026, with the purification line expected to go live by 2029.

How does PureCycle Technologies’ Ironton plant performance influence investor sentiment and expansion plans?

The Ironton, Ohio facility is PureCycle’s first commercial-scale project, and its recent operational ramp-up has become a key validator for the company’s global replication strategy. The Ironton plant is expected to reach breakeven by the third quarter of 2025, according to management. Operational insights from Ironton are being directly incorporated into design upgrades for the Gen 2 Augusta facility.

Investor confidence in Ironton’s performance has directly contributed to PureCycle’s ability to secure new institutional capital. The company views this milestone as a foundational element for its broader international strategy, signaling that its purification technology is commercially scalable.

How has the stock market reacted to PureCycle’s $300 million raise and global buildout announcement?

Shares of PureCycle Technologies surged nearly 24 percent intraday following the June 17 announcement, opening around $13.73 and peaking above $15.40. Daily trading volume spiked to more than 12 million shares—significantly above the three-month average—suggesting strong investor appetite for the capital raise and expansion blueprint.

The structure of the preferred stock offering, with a 30 percent premium and flexible dividend options, was interpreted by analysts as a shareholder-aligned financing approach. Despite ongoing concerns over short interest, the spike in price and volume indicates improved sentiment and optimism around execution of global projects.

What execution risks remain as PureCycle pursues its billion-pound target?

While the funding milestone marks a critical step forward, PureCycle still faces material execution risks. These include permitting delays in Europe, construction risk in Southeast Asia, and the challenge of scaling next-generation purification technology at Augusta. Additionally, investors remain alert to potential cost overruns or supply chain disruptions that could impact timelines.

Short interest in PureCycle shares remains high, exceeding 40 percent of float. While some analysts view this as a contrarian buying opportunity, others caution that sustained institutional interest will depend on clear execution milestones and transparent updates on Ironton’s performance and the progress of new facilities.

What is the long-term outlook for PureCycle Technologies and its role in sustainable manufacturing?

If PureCycle succeeds in bringing one billion pounds of capacity online and meets its projected EBITDA of $600 million per year, the company could become one of the dominant players in advanced plastic recycling. Its technology addresses one of the most difficult segments in the global waste stream—contaminated polypropylene—and converts it into ultra-pure, virgin-like resin for reuse in packaging, automotive parts, and consumer goods.

With regulatory pressure mounting globally and consumer brands under increasing pressure to demonstrate sustainability, PureCycle’s circular solution is well-positioned to serve high-margin, compliance-driven markets in Europe, Asia, and North America.

The next 12 to 18 months will be pivotal. Engineering milestones for the Augusta Gen 2 plant, construction start in Thailand, and permitting success in Antwerp will determine whether PureCycle can transition from an emerging technology story into a multi-continent manufacturing platform delivering sustainable EBITDA growth.