PureCycle Technologies, Inc. is advancing its global footprint in recycled plastics with the announcement of a $300 million capital raise and an ambitious plan to bring one billion pounds of polypropylene (PP) recycling capacity online by the end of this decade. The move comes on the heels of production gains at the company’s Ironton Facility and formalizes its expansion roadmap across the United States, Europe, and Asia.
The funding round—comprised of both new and returning investors including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors, and Sylebra Capital Management—will close on June 20, 2025.
“This is an impressive group of investment organizations, and we are thankful for their continued support,” said CEO Dustin Olson. “The time for growth is now.”
The capital will accelerate projects already underway or in planning across three continents:
All three facilities build on the company’s technological blueprint developed at its Ironton site and are designed to be scalable, low-impact, and highly efficient. PureCycle’s patented solvent-based recycling technology removes contaminants, odor, and color from waste polypropylene, producing near-virgin quality resin.
The $300 million raise includes Series B convertible perpetual preferred stock with a 7% annual dividend, payable in kind or cash. The stock converts at a 30% premium to the 10-day VWAP of PureCycle’s common shares as of June 16, 2025.
With mounting demand for circular materials and increased regulatory pressure on virgin plastic use, PureCycle’s expansion addresses both market and environmental imperatives. By aligning with established petrochemical partners and locating facilities in feedstock-rich regions, the company is optimizing cost and scale while contributing to global sustainability targets.
