U.S.-based company revolutionizing plastic recycling, announced today a corporate update for the second quarter ending.
PureCycle CEO Dustin Olson commented, “We have begun to implement our growth plans following our successful $300 million capital raise that was executed in June. Our first expansion steps will be with facilities in Thailand and Belgium. Future facilities, beyond the initial lines in Thailand and Belgium, are expected to house a Gen 2 Purification design with a planned capacity of more than 300 million pounds per year. All these projects are currently expected to be online by 2030 and would give us an installed capacity of one billion pounds across the United States, Europe and Asia.”
Olson continued, “On the commercial front, we continue to make progress with trials in the packaging, film and textile spaces for both food and non-food applications. Our team is now in negotiations with several companies and working through the process to bring these opportunities to commercialization. We continue to see interest in our PureFive™ resin and are still confident we will achieve increased sales in the second half of 2025 that should position us well for 2026.”
Commercial Update
PureCycle’s compounding and trial successes continued during the second quarter of 2025. Through the Company’s various customer interactions, PureCycle is developing a wide-ranging portfolio of PureFive Choice™ resin grades. This includes one-pellet solutions for food-grade film, injection molded and thermoformed applications.
PureCycle has delivered these PureFive Choice™ resin grades to various converters for trials. The resin has been successfully molded into storage totes, coffee lids, dairy containers, pens and a variety of other polypropylene packaging applications. PureCycle is now in post-trial negotiations for more than 15 applications with numerous converters or brand owners.
The Company previously announced a partnership with Emerald Carpets to drive circularity in the trade show industry. Emerald signed its commercial supply agreement for approximately 5 million pounds of PureFive™ resin over the next 12 months. The PureFive Choice™ resin will be blended into Emerald Carpets’ existing fiber production and allow for trade shows around the world to use carpets made with recycled content.
PureCycle also made progress on the use of PureFive™ resin in biaxially-oriented polypropylene (BOPP) film. The PureFive Choice™ resin grade for film passed an industrial trial for a leading provider of tapes and films. Work has also continued with Germany-based Brückner Maschinenbau GmbH, the world’s leading supplier of production lines for manufacturing a wide range of stretched films. A larger-scale trial with Brückner is scheduled for later this month and, if successful, should provide PureCycle with thousands of meters worth of samples to share with brand owners. BOPP film has a wide range of end-use applications, including food packaging for snacks, candy and baked goods.
PureCycle has continued to advance through the extensive qualification process with Procter & Gamble (P&G) for a variety of applications. Scaled production tests of the spout and dose caps for select bottles of P&G products are scheduled for September. Products with PureFive™ resin are planned to be in production by the end of 2025 and in stores in early 2026.
Operations Update
PureCycle produced 3.4 million pounds of resin in the second quarter of 2025. The Company took a short, planned outage in early June to update and improve certain areas of the Ironton Facility. The plant returned to operations on June 9, and the facility has been running consistently since then. PureCycle continues to assess the upper limits of the Ironton Facility and successfully completed a rate test at 14,000 pounds per hour on August 1.
To meet expected demand and better streamline its processes, PureCycle will add compounding operations to the Ironton, Ohio purification facility. The Company has begun efforts to install a new twin-screw extruder with multiple feeders to bring approximately 100 million pounds of annual compounding capacity to the site. This will enable the blending of specific resins for key customer applications, including film, thermoforming and thin-wall injection molding applications. The move is expected to eliminate approximately $4 million of annualized third-party costs currently associated with producing the Company’s PureFive Choice™ resin. It should also further reduce the carbon footprint of PureCycle’s overall supply chain. The integration of compounding to the Ironton Facility should be completed late in the fourth quarter of this year.
PureCycle Financial Update
During the second quarter of 2025, PureCycle recognized revenue of approximately $1.7 million.
In the second quarter of 2025, PureCycle sold a total of $11.9 million of certain Southern Ohio Port Authority Exempt Facility Revenue Bonds (PureCycle Project), Tax-Exempt Series 2020A to a number of qualified institutional buyers. Gross proceeds from the sale of revenue bonds were approximately $10.5 million.
In June 2025, PureCycle raised $300 million from the issuance of Series B convertible perpetual preferred stock with a series of new and existing investors.