PureCycle Technologies Surges on Record Production and Regulatory Wins
3 Articles
3 Articles
PureCycle Stock Jumps 25% as New Jersey Approval Opens Door to Recycled Plastic Demand
PureCycle Technologies shares rose 24.7% to $12.72 after New Jersey regulators granted its PureFive resin a one-year conditional designation as postconsumer recycled content under state packaging law. The company reported first-quarter revenue of $4.1 million and a net loss of $33.4 million. Production at its Ohio plant doubled from a year earlier. PureCycle plans to seek permanent approval from state regulators. The post PureCycle Stock Jumps 2…
NJ qualifies PureCycle PP for minimum PCR law
Editor’s note: This story has been updated to include an interview from PureCycle CEO Dustin Olson. New Jersey has issued a one-year conditional approval for PP resin produced via PureCycle’s dissolution recycling process, to count toward the state’s minimum recycled content law for packaging. In a quarterly earnings call this month, CEO Dustin Olson said the state represented the potential for 25 million to 50 million pounds per year in demand,…
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