PureCycle To Raise $300 Mln Capital To Fund Global Expansion

(RTTNews) - PureCycle Technologies, Inc. (PCT) Tuesday announced binding agreements to raise $300 million in capital to support its global growth strategy, targeting one billion pounds of installed polypropylene or PP recycling capacity and $600 million in projected annual EBITDA by 2030.

The capital raise, structured as a Series B convertible perpetual preferred stock offering, includes participation from a group of new and existing investors, including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors, and Sylebra Capital Management.

The Convertible Shares carry a 7% annual dividend and have a conversion price set at a 30% premium to the 10-day VWAP of PureCycle's common stock, based on the June 16, 2025 close.

Proceeds from the transaction will be used to fund expansion initiatives across the U.S., Europe, and Asia.

The deal is expected to close on June 20, 2025, and will significantly accelerate PureCycle's growth plans.

Coinciding with the capital raise, PureCycle announced a strategic partnership with IRPC Public Company Ltd., Southeast Asia's leading integrated petrochemical company, to build a 130-million-pound PP recycling facility in Rayong, Thailand.

Construction is scheduled to begin in second half of 2025, with operations targeted for mid-2027.

PureCycle also plans to build a second 130-million-pound facility in Antwerp, with final permitting expected in 2026 and operations beginning in 2028.

In the U.S., PureCycle will develop a Gen 2 purification line in Augusta, Georgia, with construction beginning in mid-2026 and full operations by 2029.

The Augusta site will feature integrated pre-processing and compounding capabilities and is expected to exceed 300 million pounds in annual capacity.

"These investments position us to achieve scalable, global impact through sustainable plastic solutions," said CEO Dustin Olson. "With the strong support of our investment partners and commercial momentum from our Ironton facility, we are ready to execute our long-term vision."

PureCycle will host a conference call Tuesday morning to provide further details on the capital raise and growth plans.

Currently, PCT is trading at $14.47, up by 27.88 percent on the Nasdaq.