PureCycle Technologies Secures Another $300 Million in Funding! Plants to Be Built in Three Countries!

U.S.-based polyolefin chemical recycling company PureCycle Technologies Inc. has announced it has secured $300 million in funding. The funds will be used to support the company’s goal of recycling 500,000 tons of polypropylene (PP) plastic annually by 2030. The focus will be on building chemical recycling facilities in Augusta, Georgia (USA); Antwerp, Belgium; and Rayong, Thailand.

This funding was secured from several equity firms, including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors, and Sylebra Capital Management.

According to PureCycle's publicly disclosed Q1 financial report, the company has yet to achieve profitability. In the first three months of 2025, PureCycle reported revenues of approximately $1.58 million and operating costs and expenses totaling $39.3 million, resulting in an operating loss of more than $37 million.

PureCycle is considered the largest commercial solvent-based recycling company, using supercritical butane solution technology to recycle polypropylene (PP). After licensing the core technology from Procter & Gamble (P&G), PureCycle established its flagship first-of-its-kind facility in Ironton, Ohio, which produces 49,000 tons of recycled PP annually.

PP Recycling Facility in Rayong, Thailand

The newly raised funds will support a collaboration with IRPC Public Co. Ltd. (IRPC) in Thailand. The two companies plan to build a new PP recycling facility in Rayong Province with an annual capacity of 65,000 tons. Construction will begin in the second half of this year, with operations expected to commence in mid-2027.

Recycling Facility in Antwerp, Belgium

This facility will have the same production capacity as the plant in Thailand.

Recycling Plant in Georgia, USA

The currently planned annual capacity for this plant is expected to reach 150,000 tons.

Additionally, in the first half of this year, Gian De Belder, Director of R&D for Packaging Sustainability at consumer goods giant Procter & Gamble (P&G), mentioned that the company may promote the use of its patented solvent-based recycling technology in the future. P&G has already licensed the process to PureCycle Inc., which has developed the first commercial plant using the technology, capable of recycling up to 49,000 tons of polypropylene annually.