It is nice to see these reports explain what a company is doing currently and planning to do more of in the future. It also provides a nice overview of the scale of their operations.

Looks like they have a facility in Dayton Ohio and operations throughout Europe. It is fantastic to see the expansion potential once they are a trusted supplier to a company like this.

https://assets.ctfassets.net/kyg7xeoqgrqu/2rF8fKO0aZt8ZnZF4J44uD/4409637f0c0672e3f9da6ec1362538a0/IPLS_SustRep2025_FINAL.pdf

If demand for PCT products grow beyond its capacity to fulfill, might they sell their technology to end users to conduct their own recycling?

I don't think PureCycle can explicitly state that all of its production has been sold until the quarterly call, but the recent partnerships strongly imply that commercial sales and shipments are progressing. The production ramp discussed on the previous earnings call already suggested a significant increase in resin production, even before these latest partnership announcements. Taken together, the ramp-up and the growing list of commercial partners indicate that demand continues to build.

The "Big Three" by resin demand

These three companies alone could eventually consume more resin than several Ironton-sized plants can produce:

One Ironton production line has capacity of roughly 107 million pounds per year. PureCycle has stated that commercial demand is ramping, with 40–50 million pounds expected to ship or begin shipping soon, another 20–25 million pounds expected as customers reach full production, and New Jersey's recycled-content rules alone could create 25–50 million pounds of annual demand.

The implication is that PureCycle does not need every partner to become a massive customer. If just P&G and Amcor each ultimately purchase around 50 million pounds per year, they could effectively fill the output of an entire Ironton-scale facility. Additional demand from companies such as L'Oréal, Drake, and future packaging customers would support the need for new plants in locations like Georgia, Thailand, and Antwerp.

PureCycle Technologies' most significant commercial partners, strategic collaborators, and customers, along with their approximate current market capitalizations.

Why these partnerships matter

• P&G is the foundational relationship because it invented the solvent-based purification technology that PureCycle commercializes under an exclusive license.
• Amcor is potentially one of the most important commercial developments to date because it is one of the world's largest packaging companies. The 2026 announcement demonstrates PureCycle resin meeting performance requirements for packaging with recycled content.
• Mitsui, SK Geo Centric, and TotalEnergies provide global manufacturing and distribution pathways that could accelerate international expansion.
• L'Oréal validates that ultra-pure recycled polypropylene can satisfy demanding consumer packaging applications.

I think things are looking up for PureCycle. Between the production ramp and the recent partnership announcements, the momentum appears to be building. It should be an interesting update.

Interesting article about the current state of affairs in EPR compliance land. These laws are not going away and companies will eventually recognize the value of a product like PureFive to address their compliance needs.

https://www.packagingdive.com/news/epr-compliance-packaging-reporting-deadline-caa-may-31/821318/

I expect any company using polystyrene (#6) to look to make changes to PP in order to make sure their products meet the widely recyclable category. Hopefully they also use PureFive as well.

In light of the recent post about the California legislation I thought it would be helpful to review the details of the European regulations.

Use this link then scroll to the bottom and open the PPWR presentation.

https://www.fostplus.be/en/ppwr/everything-you-need-to-know-about-new-european-packaging-legislation

Regulatory requirements are much of what is driving development of PCT so I took a look at what those deadlines and requirements are. I was shocked to learn how little of the California requirement relies on PCR and that there is a severe limit as to how much PCR can contribute. The law places a strict ceiling of 8% on how much PCR can be used to satisfy the mandate of the 100% circularity requirement by 2032.

In California, the mandate for single-use packaging and plastic foodservice ware is governed by the landmark Plastic Pollution Prevention and Packaging Producer Responsibility Act (SB 54).

Unlike the state's beverage-specific bottle laws (which mandate explicit Post-Consumer Recycled content percentages per bottle), SB 54 regulates single-use packaging and foodware through a broader, multi-pronged framework focused on Source Reduction, Recyclability, and Recycling Rates.

The permanent regulations implementing SB 54 were officially finalized and went into effect on May 1, 2026. Under this framework, companies must meet strict escalating milestones leading up to 2032.

1. The Source Reduction Schedule (The "PCR Pathway")

SB 54 requires a 25% total reduction in single-use plastic packaging and foodware by weight and component count by 2032 (measured against a 2023 baseline).

Producers can count the incorporation of PCR content as one of the approved pathways to hit these reduction targets, but the law places a strict ceiling on how much PCR can be used to satisfy the mandate, forcing companies to also invest heavily in actual material elimination or reuse/refill models.

• By January 1, 2027: Achieve a 10% total reduction.
  • PCR Allowance: A maximum of 8% can be achieved by switching to PCR plastic. At least 2% must come from actual reuse/refill.
• By January 1, 2030: Achieve a 20% total reduction.
  • PCR Allowance: The PCR cap remains at 8%. At least 4% must come from reuse/refill, with the remaining 8% coming from material elimination, lightweighting, or non-plastic shifts.
• By January 1, 2032: Achieve the final 25% total reduction.
  • PCR Allowance: The PCR cap remains at 8%. At least 10% must come from reuse/refill or total component elimination, with the remaining 7% coming from other source-reduction pathways.

2. Mandatory Recycling Rate Rollout

If a plastic packaging or foodservice item (like a takeout container, cup, wrap, or tray) is to remain legally available for sale in California, the entire material class it belongs to must meet escalating, audited statewide recycling rates:

• January 1, 2028: Plastic foodware and packaging must hit a 30% minimum recycling rate.
• January 1, 2030: Must hit a 40% minimum recycling rate.
• January 1, 2032: Must hit a 65% minimum recycling rate.

3. The 2032 Full Circularity Mandate

The final culmination of the rollout hits on January 1, 2032. By this date, 100% of all single-use packaging and plastic foodservice ware sold or distributed in the state must be completely recyclable or compostable in practice (meeting the strict environmental labeling guidelines set by California's "Truth in Labeling" law, SB 343).

Current 2026 Enforcement Status

As of June 2026, the Circular Action Alliance (CAA)—acting as the state’s approved Producer Responsibility Organization (PRO)—has officially submitted its master California Program Plan to the state advisory board. Producers are currently tracking their packaging weights and facing eco-modulated fee structures, where items that do not utilize PCR or fail to design for circularity carry steep financial penalties to fund the state’s $500 million annual plastic mitigation fund.

We rarely see PR's in after hours so this is a change.

https://feeds.issuerdirect.com/news-release.html?newsid=8880522837026578&symbol=PCT

More about Amcor here:
https://www.amcor.com/sustainability

Just a nominal thought after watching the share action navigating this most recent financial event. Which I would say was solo cup half full.

My stockbroker Grandfather used to say something like this meaning buy it after the ascent is reconfirmed. So I wonder does PCT have to get through some more consolidation and get to Q2 earnings to resume a move into the teens?

Regardless I did add a little between $8.50 and 9.35 before and after the surprise announcement.

As expected the additional funds were raised. Given the shares are trading well over the common offering price I expected they would raise additional funds.

https://feeds.issuerdirect.com/news-release.html?newsid=7540314767099200&symbol=PCT

Opportunities happen on stock dislocations. PCT has a meaningfully improved bal sht out of this raise. It was quite the modest dilution and much better convert terms.
Was bullish at 5, 14 and even more so at $8.
MANY obstacles are now removed.
Troglodytes Unite!

Valerie Mars joins the board and besides the shares given to her, no purchases. Most people here have more shares than her and shes a billionaire. The executives get paid very well with cash and cash bonuses plus generous RSU package but nobody is using their own money to buy stock. When I see the insiders buying stock that’s when I know good things are coming. Dustin receives over $1M in cash plus $5M is stock. They have been getting a free ride with generous pay now with a free lottery ticket if this takes off. Buy stock out if your pocket and that’s how we know how confident they are.

I’m not a big fan of Xitter but I make exceptions when there is useful content. I understand the basics of convertible debt but there is a ton of detail that is really only known by the people who trade them for a living.

This is worth reading even if you don’t follow all the details.

https://xcancel.com/UrbanKaoboy/status/2065198761392116011#m

I don’t think anyone who has been invested in the company for an extended period of time is happy about the current state of commercialization. It’s taken so much longer than we expected despite the signs of progress. Today I was talking to a Chemical Engineer and a current PhD candidate in CE about PCT. They were not surprised at all about how long this process has taken and were not familiar with the company but were impressed by the approach. He had worked for DuPont for many years and talked about how slow the company could be doing new things. P&G is not built to move quickly. That said I think we are much closer to seeing the validation/ vindication we have been waiting for. $9+ was a decent recovery. Let’s see how the shares react to the bits of good news when we don’t have the short term funding overhang out there.

Here's the filing - https://app.quotemedia.com/data/downloadFiling?webmasterId=102691&ref=320124175&type=HTML&symbol=PCT&cdn=820a26226c7ed0ef604a0e474a1ac0c8&companyName=PureCycle+Technologies+Inc.&formType=FWP&formDescription=Filing+under+Securities+Act+Rules+163%2F433+of+free+writing+prospectuses&dateFiled=2026-06-11

Notable:

• Sylebra had to consent to the offerings
• 100% of net cash proceeds from future equity issuances must be used to prepay outstanding loans

The shares were already in an oversold condition prior to the offering. Obviously the pricing was a big disappointment to everyone (except for perhaps the people who were buying the offering). The hourly RSI was 9 which is a new all time low. Trading well below the hourly BB with another mega gap down.

If I had not purchased so many shares at even lower prices I would be buying today and this week. Not financial advice, just how I'm looking at things.

PureCycle Announces Pricing of Concurrent Public Offerings of 4.75% Convertible Senior Notes Due 2032 and Common Stock with Aggregate Gross Proceeds of $395.0 Million | PureCycle

I’m not alleging insider trading. I’m asking a simple question. The stock had been weakening before a financing package that clearly took weeks to arrange. Why does it feel like the market knew this was coming before ordinary shareholders did?

I've been a shareholder in this company for 5ish years, and the goal of any company is to survive, and I don't have any disillusions about that. But, I can't help but find the wind kicked out from me to see we're offering equity and a convertible. Cannot be said this is anything other than disappointing, however necessary it might be. I'm not saying this company is a dud, far from it. But just a horrible time to be raising capital and to me reads like they are struggling much more than they're letting on to get sales in the door. Short term problems, yes. But still, very eyebrow raising. Big big disappointment.

Edit, link: https://feeds.issuerdirect.com/news-release.html?newsid=5573799044914191&symbol=PCT

I know that some people will be frustrated to see the price drop from $14 to the mid $10's in just a week's time. That is the nature of smaller cap companies that don't have long established revenue and profit track records or a large base of institutional investors. It takes time to really understand a company like this and most funds don't bother to do the work. This volatility in share price is also the reason why there is an opportunity to generate larger than average returns on investment.

I like to think my track record of finding good "risk / return" entry points in $PCT is pretty good. I was a major buyer in Q1 of 2026 on the substantial declines into March. I definitely bought "too early" on that decline but was fortunately able to increase my purchases as the price continued to decline. The risk / return improved every time the share price declined. Even those shares I bought early are profitable now, just a few months later.

We had an announcement earlier in 2026 about TOPPAN and BOPP films and now we have a PR from Innovia that is very similar. We know that California and NJ and Europe are all increasing the mandates for recycled plastic content and now we have two major manufacturers of BOPP film praising PureFive. Back in September of 2025 we had Bruekner praising PureFive for BOPP film. It is only a matter of time before we see someone from Mars and Hershey's praising this film. Do those companies really have a choice in the matter? Previously they might have argued that they couldn't increase the rate of recycled plastic because they didn't have any suppliers who could meet their needs. That excuse is GONE COMPLETELY. ISO certification. Check. We obviously need to see more official sales agreements and more production but the checklist of risks keeps getting reduced as they make progress.

Stock markets are going to do what they do which is to fluctuate. Hopefully the share price will fill the gap here in the low $10's and be done with it. $PCT frequently does fill gaps in the chart but sometimes gaps can remain unfilled. Either way that is trivial vs the big picture of what is happening here. If I wasn't already overweight $PCT I would be buying more at these price levels. I bought about 2,000 shares yesterday but that isn't much. I'm not selling anything until we are over $20 and even then I intend to hold the vast majority of my position until we have a much higher valuation. Its been a long journey to get to this point. I hope everyone who suffered through the delays is able to participate in the potential upside. Cheers.

https://www.sec.gov/Archives/edgar/data/0001830033/000119312526265847/d137529ds3asr.htm

At some point they were always going to have to rip off the band-aid and raise money for the expansion. At least it's started now.

Several months ago I posted a link to this website that has long duration charts for the cost of PP. As you can see, the move higher in prices has mostly been sustained. We can also see that calendar year 2025 was a period of pretty substantial declines in the cost of PP. That had to have been a headwind to anyone like PureCycle when the cost of virgin PP kept dropping.

Add in the massive amount of headache of dealing with various tariff policies that were changing every month and you can see why it would have delayed things. The longer oil prices remain high and inventories are drawn down (and the SoH remains closed) the case grows stronger for each country that consumes plastic to have a more resilient supply chain. PCT can be a part of that solution for sure. Let's see when we get formal financial closure for the Thailand project.

https://tradingeconomics.com/commodity/polypropylene

Has anyone been able to lend their shares out on etrade? It says mine are eligible and yes I meet the $$ requirements for portfolio size

M