PureCycle Technologies Highlights Record Production and Market Expansion in Latest Corporate Update

Reuters11-07
PureCycle Technologies Highlights Record Production and Market Expansion in Latest Corporate Update

PureCycle Technologies Inc. reported a record quarterly production of 7.2 million pounds of PureFive resin at its Ironton facility, with September reaching a monthly record of 3.3 million pounds. The company's Denver site has ramped up to a second shift, with a third shift planned for the next quarter. PureCycle is expanding its compounding capabilities and progressing on several commercial and operational milestones, including the successful qualification of its resin for use in various applications such as white thermoformed coffee lids for a top global quick service restaurant brand, with sales expected to begin in the next quarter. The company has also received certification for recycled content and REACH compliance, enabling sales into Europe. PureCycle is advancing discussions with multinational companies on long-term supply contracts and continues to build its sales pipeline, currently engaged in over 100 opportunities across key market segments, including automotive, flexible packaging, thermoformed packaging, and injection molding. The company also provided an update on its Thailand project and co-product sales, which are contributing to optimized feedstock costs. Additional product trials are underway, targeting new applications in the film and tape markets. You can access the full presentation through the link below.

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