PureCycle (PCT) Raises Capital to Scale Global Recycling Footprint

Purecycle Technologies Inc. (NASDAQ:PCT) is one of the top 10 stock picks from Harvard University’s stock portfolio. The Harvard Management Co. has maintained its position in the stock (around 2.5 million shares or 1.5% of the portfolio’s weight) versus the last quarter.

On June 17, 2025, PureCycle Technologies announced a $300 million capital raise through binding agreements with both new and existing investors, including Duquesne Family Office, Samlyn Capital and Sylebra Capital. This funding will support the company’s long-term growth strategy, scaling its polypropylene recycling capacity to one billion pounds by 2030, with a projected EBITDA target of $600 million.

A worker sorting recyclable materials on a conveyor belt inside a Material Recovery Facility.

The capital raise coincides with PureCycle’s expansion into Southeast Asia through a strategic partnership with IRPC Public Company Limited. Together, they plan to build a 130-million-pound recycling facility at IRPC’s industrial zone in Rayong, Thailand. Construction is scheduled to begin in the second half of 2025, with operations expected by mid-2027. The partnership enables PureCycle to leverage existing infrastructure and reduce construction costs.

Parallel expansion efforts are underway in both Europe and the United States. The company plans to replicate its recent successes by enhancing its facilities in Antwerp, Belgium, and by developing a large-scale Gen 2 plant in Augusta, Georgia, with a capacity of over 300 million pounds. Engineering work for the Augusta site is ongoing, with permitting and construction milestones scheduled for 2026, and an operational ramp-up is expected by 2029.

(At the time of writing this article, this funding transaction was expected to close by June 20).

With these aggressive expansion projects, their scale, and geographic diversity, the company appears confident in the commercial traction and operational learnings from its Ironton facility.

PureCycle Technologies Inc. (NASDAQ:PCT) is a recycling company. The Company focuses on commercializing a dissolution recycling technology that physically separates polymer from other plastics, color, and contaminants, thereby restoring waste polypropylene into resin with similar properties and applicability for reuse as virgin polypropylene.

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Disclosure: None.