olivlawolivlaw

olivLaw · US equity research

PureCycle Technologies, Inc. PCT

Plastic Materials, Synth Resins & Nonvulcan Elastomers · SIC 2821 · Vertical: Plastic Materials, Synth Resins & Nonvulcan Elastomers (SIC 2821)

2.79USD−10.58% · 1 dayClose 04 Nov 2026

PureCycle Technologies develops a dissolution recycling process that returns recycled polypropylene to near-virgin quality, sold as PureFive® resin. The company is still at an early commercial stage with small revenues, but state regulations and customer trials could accelerate demand, with quarterly revenue reaching about 4.5 million dollars in Q2 2026.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, PureCycle Technologies, Inc. (PCT) stock was 2.79 USD (−10.58% on the day), with market capitalisation 560.8 m USD, beta 2.18, 52-week range 2.67–13.95 USD. Latest reported quarter (Q3 2026): revenue of 2.3 m USD (−3.3% YoY), net income of 6.9 m USD, diluted EPS 0.00 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
560.8 m USD
shares as of 02 Nov 2026
P/E (TTM)
unavailable
Diluted EPS TTM -1.11 · TTM to 30 Sept 2026
E/P (TTM)
-39.94%
TTM to 30 Sept 2026
Dividend yield
unavailable
Beta (2y)
2.18
Volatility (1y) 83%
52-week range
2.6713.95

Price history

Loading chart…

Technical reading

RSI (14)
29.9
oversold (≤ 30)
Bollinger (20, 2)
2.45 – 3.87
in the lower half of the band · %B 0.24 · band width 44.8%
SMA 50 / 200
4.57 / 7.17
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.42 / -0.52
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−31.8%−1.1%−30.7 pp—
3 months−59.4%−0.5%−58.9 pp—
6 months−63.4%+4.4%−67.8 pp—
Year to date−67.5%+12.3%−79.8 pp—
1 year−72.4%+13.5%−86.0 pp+17.9%
3 years−44.1%+76.4%−120.5 pp−9.9%
5 years−78.2%+63.7%−141.9 pp—
Max drawdown (1y)
−80.9%
04 Jun 2026 → 26 Oct 2026
Max drawdown (5y)
−84.2%
18 Jul 2025 → 26 Oct 2026
Compound annual growth (5y)
−26.3%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 30 Sept 2026

Revenue
2.3 m USD
−3.3% YoY
Net income
6.9 m USD
unavailable YoY
Diluted EPS
0.00
unavailable YoY
net / operating
292.4% / -1,594.7%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue01.6 m1.7 m2.4 m2.7 m4.1 m4.5 m2.3 m
Research & development1.5 m1.6 m1.4 m1.5 m1.5 m1.6 m1.4 m1.3 m
SG&A8.3 m13.7 m15.8 m12.7 m17.2 m13.0 m9.6 m7.8 m
Operating income-35.2 m-37.7 m-45.6 m-38.9 m-59.2 m-41.8 m-41.3 m-37.5 m
Interest expense15.2 m15.1 m17.6 m16.2 m15.5 m15.4 m15.4 m14.8 m
Pre-tax income-64.8 m———————
Income tax-79.0 k000970.0 k000
Net income-64.7 m8.8 m-144.2 m-28.4 m-18.8 m-33.4 m-142.2 m6.9 m
Diluted EPS-0.39 ≈0.05-0.81-0.31-0.10 ≈-0.21-0.800.00
Operating cash flow-31.8 m-38.9 m-36.7 m ≈-38.5 m ≈-28.7 m-42.7 m-50.0 m ≈-32.3 m ≈
Capex21.6 m15.0 m8.6 m ≈3.9 m ≈13.3 m3.4 m31.7 m ≈6.9 m ≈
Share repurchases440.0 k1.7 m1.1 m ≈1.7 m ≈401.0 k2.2 m295.0 k ≈279.0 k ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year202020212022202320242025
Revenueunavailableunavailableunavailable008.4 m
Revenue YoYunavailableunavailableunavailableunavailableunavailableunavailable
Net income-53.0 m-77.5 m-84.7 m-101.7 m-289.1 m-182.6 m
Net income YoYunavailableunavailableunavailableunavailableunavailableunavailable
Diluted EPS-1.96-0.79-0.55-0.63-1.75-1.21
Diluted EPS YoYunavailableunavailableunavailableunavailableunavailableunavailable
net %unavailableunavailableunavailableunavailableunavailable-2,185.1%
Free cash flow-47.8 m-191.9 m-352.7 m-248.8 m-200.4 m-183.6 m

Reported results vs expectations

Loading…

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
156.7 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
45.9 m USD
Total assets
922.7 m USD
Debt / equity
unavailable
Current ratio
2.26x
ROE
-161.3%
ROA
-21.2%
FCF margin
-2,197.3%

Financial statements (source on every figure)

Revenue and net income (USD)

Income statement · USD

Revenue
2023
0
2024
0
2025
8.4 m

SEC (XBRL)· 26 Feb 2026verified

Research & development
2023
6.6 m
2024
6.5 m
2025
5.9 m

SEC (XBRL)· 26 Feb 2026verified

SG&A
2023
55.3 m
2024
53.1 m
2025
59.5 m

SEC (XBRL)· 26 Feb 2026verified

Operating income
2023
-113.9 m
2024
-145.4 m
2025
-181.4 m

SEC (XBRL)· 26 Feb 2026verified

Interest expense
2023
31.4 m
2024
56.9 m
2025
64.4 m

SEC (XBRL)· 26 Feb 2026verified

Pre-tax income
2023
-101.1 m
2024
-289.2 m
2025
-181.6 m

SEC (XBRL)· 26 Feb 2026verified

Income tax
2023
650.0 k
2024
-79.0 k
2025
970.0 k

SEC (XBRL)· 26 Feb 2026verified

Net income
2023
-101.7 m
2024
-289.1 m
2025
-182.6 m

SEC (XBRL)· 26 Feb 2026verified

Diluted EPS
2023
-0.63
2024
-1.75
2025
-1.21

SEC (XBRL)· 26 Feb 2026verified

Weighted average diluted shares
2023
164.0 m
2024
165.4 m
2025
180.4 m

SEC (XBRL)· 26 Feb 2026verified

Balance sheet · USD

Cash
2023
73.4 m
2024
15.7 m
2025
156.7 m

SEC (XBRL)· 26 Feb 2026verified

Receivables
2023
—
2024
0
2025
2.0 m

SEC (XBRL)· 26 Feb 2026verified

Inventories
2023
4.8 m
2024
8.1 m
2025
13.8 m

SEC (XBRL)· 06 May 2026verified

Current assets
2023
162.6 m
2024
53.9 m
2025
198.0 m

SEC (XBRL)· 26 Feb 2026verified

Property, plant & equipment, net
2023
638.7 m
2024
674.1 m
2025
657.8 m

SEC (XBRL)· 26 Feb 2026verified

Total assets
2023
1.0 bn
2024
798.4 m
2025
922.7 m

SEC (XBRL)· 26 Feb 2026verified

Accounts payable
2023
2.9 m
2024
6.6 m
2025
9.2 m

SEC (XBRL)· 26 Feb 2026verified

Short-term debt
2023
9.1 m
2024
12.9 m
2025
—

SEC (XBRL)· 27 Feb 2025verified

Long-term debt
2023
—
2024
—
2025
—

SEC (XBRL)· 16 Mar 2023verified

Current liabilities
2023
55.6 m
2024
90.9 m
2025
87.6 m

SEC (XBRL)· 26 Feb 2026verified

Total liabilities
2023
619.1 m
2024
617.9 m
2025
572.1 m

SEC (XBRL)· 26 Feb 2026verified

Equity
2023
420.2 m †
2024
180.4 m †
2025
45.9 m †

SEC (XBRL)· 26 Feb 2026verified

Cash flow · USD

Operating cash flow
2023
-94.9 m
2024
-144.8 m
2025
-142.7 m

SEC (XBRL)· 26 Feb 2026verified

Capex
2023
153.9 m
2024
55.6 m
2025
40.8 m

SEC (XBRL)· 26 Feb 2026verified

Free cash flow
2023
-248.8 m ≈
2024
-200.4 m ≈
2025
-183.6 m ≈

SEC (XBRL)· 26 Feb 2026derived

Investing cash flow
2023
-102.1 m
2024
-7.0 m
2025
-54.5 m

SEC (XBRL)· 26 Feb 2026verified

Financing cash flow
2023
272.0 m
2024
-109.2 m
2025
323.7 m

SEC (XBRL)· 26 Feb 2026verified

Share repurchases
2023
1.4 m
2024
1.6 m
2025
4.9 m

SEC (XBRL)· 26 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
unavailable
the base of the ratio is not positive
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
-1,313.8%
computed by olivLawTTM to 30 Sept 2026
Net margin
-1,370.9%
computed by olivLawTTM to 30 Sept 2026
FCF margin
-1,527.7%
computed by olivLawTTM to 30 Sept 2026

Returns

ROE
-432.6%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROA
-19.3%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROIC
unavailable
input data missing
ROCE
-21.9%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
-2.9x
computed by olivLawTTM to 30 Sept 2026

Liquidity

Current ratio
1.6x
computed by olivLawbalance sheet at 30 Sept 2026
Quick ratio
1.4x
computed by olivLawbalance sheet at 30 Sept 2026
Cash ratio
0.8x
computed by olivLawbalance sheet at 30 Sept 2026

Cash

Operating cash flow
-153.7 m USD
computed by olivLawTTM to 30 Sept 2026
Capital expenditure
55.4 m USD
computed by olivLawTTM to 30 Sept 2026
Free cash flow
-209.0 m USD
computed by olivLawTTM to 30 Sept 2026
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
76 days
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
560.8 m USD
computed by olivLawbalance sheet at 30 Sept 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-39.9%
computed by olivLawTTM to 30 Sept 2026
P/B
30.3x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
41.0x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-37.3%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
0.6%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

Risk

Altman Z
-1.40
computed by olivLawbalance sheet at 30 Sept 2026

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 5 of at least 6
  • score weight coverage: 31.2% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

2.79 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 560.8 m USD

Key indicators

Market capitalisation
560.8 m USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
unavailable
insufficient data
P/B
30.3x
computed by olivLawbalance sheet at 30 Sept 2026
EV/EBITDA
unavailable
input data missing
ROE
-432.6%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Net margin
-1,370.9%
computed by olivLawTTM to 30 Sept 2026
Revenue growth (YoY)
unavailable
the base of the ratio is not positive
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

28/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 02 Nov 2026
Source: SEC (XBRL)published 04 Nov 2026
verified 811derived 65

Score by group

31% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption

no valuation method could be computed

Multiple comparisons use the SIC vertical: Plastic Materials, Synth Resins & Nonvulcan Elastomers (SIC 2821)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 31.2% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-1,370.9%0 (vs peers)20%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet-2.9x0 (on a fixed band)20%
Current ratio · Balance sheet1.6x66 (on a fixed band)13%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-37.3%0 (on a fixed band)27%
Shareholder yield (distributions) · Returns0.6%8 (on a fixed band)20%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet27/100 · 2/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality· partial0/100 · 1/3 factors with a value
  • Returns· partial8/100 · 1/2 factors with a value
  • Valuation· partial0/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

PureCycle Technologies, Inc. (PCT). Latest full fiscal year: 2025; data up to 2026-09-30.

Figures computed from the financial statements: revenue 8.4 m USD in 2025; net margin -1,370.9%; ROE -432.6%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 31.2% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

What contradicts it

  • Net margin: -1,370.9%
  • Interest coverage: -2.9x
  • FCF yield: -37.3%
  • Shareholder yield (distributions): 0.6%

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Payout ratio (FCF).

Versus the vertical median

Plastic Materials, Synth Resins & Nonvulcan Elastomers (SIC 2821) · same industry (4-digit SIC) · compared with 8 companies

Multiples and returns vs the median

P/E
—
vertical median 30.7x
EV/EBITDA
—
vertical median 11.1x
P/S
41.0x
vertical median 1.6x
above median (+2,538.5%)
P/B
30.3x
vertical median 1.5x
above median (+1,964.8%)
ROE
-432.6%
vertical median 5.2%
below median (−8,440.8%)
Net margin
-1,370.9%
vertical median 5.3%
below median (−26,037.3%)
EBIT margin
-1,313.8%
vertical median 9.9%
below median (−13,436.7%)
Revenue YoY
—
vertical median -1.4%
Net debt/EBITDA
—
vertical median 2.3x
Dividend yield
—
vertical median 4.1%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
DOWDow Inc.23.7 bn—-4.3%-1.7%−7.0%+37% / −37%
DDDupont De Nemours, Inc.20.0 bn73.51.7%4.3%+1.9%+26% / +68%
ALBAlbemarle Corporation11.2 bn21.16.6%11.1%−4.4%−27% / −22%
EMNEastman Chemical Co7.7 bn12.410.4%6.9%−6.7%+9% / −19%
HXLHexcel Corporation6.3 bn36.811.9%8.5%−0.5%+9% / +20%
AVNTAvient Corporation4.4 bn24.57.5%5.3%+0.6%+56% / +39%
ROGRogers Corp2.3 bn50.93.7%5.3%−2.3%+54% / −1%
PCTPureCycle Technologies, Inc.560.8 m—-432.6%-1,370.9%unavailable−72% / −44%
ASIXAdvanSix Inc.419.2 m—-2.8%-1.4%+0.3%+1% / −41%

1- and 3-year price returns: for PCT from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).

In brief

PureCycle Technologies develops a dissolution recycling process that returns recycled polypropylene to near-virgin quality, sold as PureFive® resin. The company is still at an early commercial stage with small revenues, but state regulations and customer trials could accelerate demand, with quarterly revenue reaching about 4.5 million dollars in Q2 2026.

SWOT

Strengths

  • The patented technology, developed by P&G and licensed globally, yields a product with quality close to virgin resin.
  • The company has obtained certifications and approvals, including from the FDA and the state of New Jersey, which supports customer confidence.
  • Commercial customers grew in the second quarter, and in-house compounding offers flexibility for different specifications.

Weaknesses

  • The company depends on a single plant, Ironton, which is not yet running at full capacity.
  • High debt and large net losses make the company dependent on continued access to capital.
  • Revenue is very small relative to operating costs, and the lack of diversification limits adaptability.

Opportunities

  • State recycled-content rules could create new demand from customers who need to comply.
  • Expansion in Thailand and Belgium could diversify the geographic footprint if projects are financed and built on time.
  • Multinational packaging sustainability commitments could open new partnerships.

Threats

  • Delays in construction or in certifying Ironton could postpone revenue and weigh on investor confidence.
  • If the P&G license deadlines are missed, the company could lose exclusivity.
  • The emergence of direct polypropylene recycling competitors could reduce market share.

Risks

  • Dependence on a single planthigh

    All current operations are concentrated at Ironton, and unplanned shutdowns could affect production and contractual obligations.

  • Indebtedness and covenantshigh

    Consolidated debt is significant relative to current revenue, and a covenant breach could allow lenders to demand early repayment.

  • P&G license deadlinesmedium

    Missing construction and sales deadlines could lead to a reduction of exclusivity or termination of the license.

  • Project construction delaysmedium

    Unforeseen costs, equipment delays and infrastructure problems could postpone or cancel some planned plants.

  • Cybersecuritylow

    Attacks on the company's own systems or on cloud service providers could disrupt operations and create compliance costs.

Investment thesis

What would need to be true (bull case)

  • If state regulation and multinational demand strengthen, the company could quickly convert more customers from trials into commercial orders.
  • Improved reliability after the turnaround and in-house compounding could raise revenue per pound of product.
  • Financing from the June 2026 convertible offering could support the production ramp-up and the Thailand project.

What would break the thesis

  • Revenue remains small and large net losses suggest the break-even point could be far away.
  • Dependence on a single plant and technical capacity problems could delay production targets.
  • Debt and the continuing need for financing could dilute shareholders or limit the company's options.

What to watch

  • Reaching full operating level at the Ironton plant and its certification2H 2026
  • Closing financing for the Thailand plantyear-end 2026
  • Revenue trend as customers move to commercial salesQ3 2026
  • Obtaining permits for the Belgium plant1H 2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).

The business

PureCycle is a Florida-based company commercializing a patented dissolution recycling technology for polypropylene, licensed from P&G. The process separates the polymer from other plastics, colors, odors and impurities without changing its chemical structure, so the result is a PureFive® resin with properties similar to virgin material. As an early-stage producer, it reported revenue of about 8.4 million dollars in 2025 and none in 2024, and 2025 was a year of capital raising for expansion.

The production chain has three steps: feedstock pre-processing (Feed PreP), dissolution purification and compounding, which blends the resin with other resins or additives to meet customer specifications. The Ironton, Ohio plant has a designed capacity of 107 million pounds per year but is not yet operating at full capacity, and the company has reported intermittent mechanical challenges and difficulty sustaining continuous operations. The Denver, Pennsylvania Feed PreP facility supplies feedstock for Ironton.

The company has announced expansion plans in Thailand, Belgium and Augusta, Georgia. The Thailand plant is planned at 130 million pounds, and the Belgium plant is also planned at 130 million pounds, while the Augusta facility was redesigned as a single 300 million pound per year plant. Completing these projects depends on financing and on meeting the deadlines in the P&G license.

Segments

PureFive® recycled resin

The main product is PureFive® resin, sold to distributors, converters, compounders and manufacturers in consumer goods, automotive, textiles and food. The company is testing the product with customers and began commercial deliveries to P&G in Q2 2026.

Compounding

Compounding, which blends the resin with other materials to reach precise specifications, began on site in April 2026. Until now these operations were mainly performed by third-party operators, and the change could reduce that reliance and improve revenue per pound.

Feedstock pre-processing (Feed PreP)

Feed PreP collects, sorts and prepares polypropylene waste. The Denver facility is already operating, and the company says feedstock is secured at the levels needed for current Ironton production.

Market context

Polypropylene is one of the most widely used thermoplastics, with more than 170 billion pounds manufactured annually, yet most polypropylene products are not recycled. Demand for recycled content is supported by multinational sustainability commitments and regulation, but the food-grade recycled polypropylene market is still small. Several states have introduced recycled content requirements, which could increase demand for certified resins.

The food-grade polypropylene recycling market is still limited because alternatives, mechanical and chemical recycling, have quality and cost limits. If state regulations and recycled content requirements expand, the company could benefit, though competition in the field is expected to grow.

Trends

  • State regulation of recycled contenttailwind

    New Jersey approved PureFive® as recycled content, and its recycled-content requirement rises in January 2027. California's SB54 is now in effect. These rules could speed customer adoption.

  • Sustainability commitments by multinationalstailwind

    Large companies have pledged to reduce virgin plastic use and to recycle packaging, which could create demand for high-quality recycled polypropylene.

  • Cost of capital and debtheadwind

    The company relies on external capital for expansion, and interest costs and loan restrictions limit flexibility. Capital market conditions could influence project timelines.

  • Material and supply chain costsmixed

    Prices of construction materials, raw feedstock and transport are volatile, and geopolitical tensions could raise costs, which could affect planned plant budgets.

Competitive position

The main competitors are other polypropylene recycling methods, particularly mechanical and chemical recycling, which the company presents as having quality and cost limits. Mechanical recycling is more energy efficient but leaves other materials in the product.

Competition could increase if other players develop their own recycled polypropylene solutions, which could affect demand for the company's products. The current advantage is the patented technology and exclusive license, but it depends on meeting deadlines.

  • Mechanical polypropylene recycling

    Cheaper and more energy efficient, but it does not fully remove impurities, leading to variable quality.

  • Chemical plastic recycling

    Processes waste into fuel or feedstock, with higher energy use and emissions.

  • Virgin resin producers

    Supply new polypropylene, against which recycled resin competes on price and specifications.

  • Other polypropylene recycling developers

    Companies that could develop comparable technologies and compete for the same customers.

News & filings

In the press

The latest news item in our archive is from 19 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

  • Quarterly report04 Nov 2026
  • Current report04 Nov 2026
    Results of operations · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
  • Current report31 Aug 2026
    Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
  • Quarterly report06 Aug 2026
  • Current report06 Aug 2026
    Results of operations · Regulation FD disclosure · Financial statements and exhibits
  • Current report15 Jun 2026
    Material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Financial statements and exhibits
  • Current report11 Jun 2026
    Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
  • Current report11 May 2026
    Shareholder vote · Financial statements and exhibits
  • Quarterly report06 May 2026
  • Current report06 May 2026
    Results of operations · Regulation FD disclosure · Financial statements and exhibits

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / PureCycle Technologies, Inc. · 26 Feb 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / PureCycle Technologies, Inc. · 06 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / PureCycle Technologies, Inc. · 06 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.