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PureCycle Technologies (PCT) has secured a $33 million investment through a private placement transaction led by Pleiad Investment Advisors , with participation from Sylebra Capital Management and Samlyn Capital, The transaction is expected to close on February 6, 2025.
The funding will support PureCycle's efforts to commercialize its patented dissolution recycling process. CEO Dustin Olson highlighted the company's progress with trials and continued pursuit of commercial success in fiber and other applications.
The private placement involves unregistered shares under the Securities Act of 1933, with PureCycle agreeing to register the resale of these shares with the SEC. The shares cannot be sold in the United States without registration or applicable exemptions.
PureCycle Technologies (PCT) ha ottenuto un investimento di 33 milioni di dollari tramite una transazione di collocamento privato guidata da Pleiad Investment Advisors, con la partecipazione di Sylebra Capital Management e Samlyn Capital. Si prevede che la transazione si concluda il 6 febbraio 2025.
I fondi supporteranno gli sforzi di PureCycle per commercializzare il suo processo di riciclo per dissoluzione brevettato. Il CEO Dustin Olson ha sottolineato i progressi dell'azienda con le prove e il continuo perseguimento del successo commerciale nel settore delle fibre e in altre applicazioni.
Il collocamento privato coinvolge azioni non registrate ai sensi del Securities Act del 1933, con PureCycle che si impegna a registrare la rivendita di queste azioni presso la SEC. Le azioni non possono essere vendute negli Stati Uniti senza registrazione o esenzioni applicabili.
PureCycle Technologies (PCT) ha asegurado una inversión de 33 millones de dólares a través de una transacción de colocación privada liderada por Pleiad Investment Advisors, con la participación de Sylebra Capital Management y Samlyn Capital. Se espera que la transacción se cierre el 6 de febrero de 2025.
La financiación apoyará los esfuerzos de PureCycle para comercializar su proceso de reciclaje por disolución patentado. El CEO Dustin Olson destacó el progreso de la empresa con las pruebas y la continua búsqueda del éxito comercial en fibras y otras aplicaciones.
La colocación privada involucra acciones no registradas bajo la Ley de Valores de 1933, con PureCycle comprometiéndose a registrar la reventa de estas acciones ante la SEC. Las acciones no pueden venderse en los Estados Unidos sin registro o exenciones aplicables.
PureCycle Technologies (PCT)는 Pleiad Investment Advisors가 주도하고 Sylebra Capital Management와 Samlyn Capital이 참여한 사모 배치 거래를 통해 3천3백만 달러의 투자를 확보했습니다. 거래는 2025년 2월 6일에 마감될 예정입니다.
이번 자금은 PureCycle이 특허받은 용해 재활용 공정을 상업화하는 데 지원할 것입니다. CEO 더스틴 올슨은 회사의 시험 진행 상황과 섬유 및 기타 응용 분야에서 상업적 성공을 지속적으로 추구하고 있음을 강조했습니다.
사모 배치는 1933년 증권법에 따라 등록되지 않은 주식을 포함하며, PureCycle은 SEC에 이러한 주식의 재판매를 등록하기로 동의했습니다. 이 주식은 등록이나 적용 가능한 면허 없이 미국에서 판매될 수 없습니다.
PureCycle Technologies (PCT) a sécurisé un investissement de 33 millions de dollars par le biais d'une opération de placement privé dirigée par Pleiad Investment Advisors, avec la participation de Sylebra Capital Management et Samlyn Capital. La transaction devrait se clôturer le 6 février 2025.
Ce financement soutiendra les efforts de PureCycle pour commercialiser son processus de recyclage par dissolution breveté. Le PDG Dustin Olson a souligné les progrès de l'entreprise dans les essais et la poursuite continue du succès commercial dans le domaine des fibres et d'autres applications.
Le placement privé concerne des actions non enregistrées en vertu de la loi sur les valeurs mobilières de 1933, PureCycle s'engageant à enregistrer la revente de ces actions auprès de la SEC. Les actions ne peuvent pas être vendues aux États-Unis sans enregistrement ou exemptions applicables.
PureCycle Technologies (PCT) hat eine Investition in Höhe von 33 Millionen Dollar durch eine Privatplatzierung gesichert, die von Pleiad Investment Advisors geleitet wurde, mit Beteiligung von Sylebra Capital Management und Samlyn Capital. Es wird erwartet, dass die Transaktion am 6. Februar 2025 abgeschlossen wird.
Die Finanzierung wird PureCycles Bemühungen unterstützen, seinen patentierten Lösungsmittel-Recyclingprozess zu kommerzialisieren. CEO Dustin Olson hob die Fortschritte des Unternehmens bei den Tests und das fortwährende Streben nach kommerziellem Erfolg in der Faser- und anderen Anwendungen hervor.
Die Privatplatzierung umfasst nicht registrierte Aktien gemäß dem Securities Act von 1933, wobei sich PureCycle verpflichtet, den Wiederverkauf dieser Aktien bei der SEC zu registrieren. Die Aktien dürfen in den Vereinigten Staaten ohne Registrierung oder anwendbare Ausnahmen nicht verkauft werden.
- Secured $33 million in new funding
- Strong investor confidence demonstrated by participation of major investment firms
- Making material progress with trials and commercial applications
- Dilutive effect on existing shareholders through new share issuance
- Shares subject to resale restrictions until SEC registration
Insights
PureCycle Technologies (Nasdaq: PCT) has secured
The capital injection significantly strengthens PureCycle's balance sheet, providing essential runway to advance its patented dissolution recycling process toward commercial viability. CEO Dustin Olson specifically highlighted progress with trials and continued pursuit of commercial applications in fiber and other markets - suggesting the company may be approaching important inflection points in product development.
Particularly noteworthy is the caliber of investors participating in this round. Pleiad's direct commentary indicates they conducted extensive due diligence before investing, specifically citing encouragement from commercial applications and demand for PureCycle's products. This external validation from sophisticated institutional investors provides a measure of credibility to PureCycle's technology and market potential in the sustainability sector.
While the private placement structure shows the company needed to secure funding outside public markets, the successful raise demonstrates investor confidence in PureCycle's direction despite challenging market conditions for pre-commercial sustainability companies. The transaction is expected to close promptly on February 6, 2025, indicating minimal regulatory hurdles remain.
This
PureCycle's dissolution process differs fundamentally from conventional mechanical recycling and even most chemical recycling technologies. Rather than breaking plastic down to its chemical building blocks (depolymerization) or using heat-based methods, their approach uses solvents to selectively dissolve and separate target polymers - potentially allowing for higher purity recovery with lower energy inputs. The CEO's specific mention of fiber applications suggests the company may be targeting polyester recycling opportunities, where high-purity outputs are essential for circular textile applications.
The reference to "material progress with trials" indicates PureCycle is likely advancing beyond pilot scale toward demonstration-scale validation, a critical threshold for attracting commercial partners. In the recycling technology space, proving consistent output quality at increasing scales is the primary technical hurdle before commercialization.
Pleiad's investment director specifically noted enthusiasm for commercial applications and demand for PureCycle's products - suggesting the company may have secured initial offtake agreements or letters of intent from potential customers. In the circular economy space, such demand validation is often more valuable than the technology itself, as many promising recycling technologies struggle to secure reliable end markets for their outputs.
ORLANDO, FL / ACCESS Newswire / February 5, 2025 / PureCycle Technologies, Inc. (Nasdaq:PCT), today, entered into a transaction anchored by Pleiad Investment Advisors Limited, with participation from Sylebra Capital Management, and Samlyn Capital, LLC to raise gross proceeds of
The capital raised is expected to assist PureCycle in its efforts to continue bringing its patented dissolution recycling process to market. The investment from Pleiad Investment Advisors Limited, Sylebra Capital Management, and Samlyn Capital, LLC highlights their confidence in the Company's technology and leadership position in the growing sustainability market.
PureCycle CEO Dustin Olson said, "We're excited to bring on a new partner like Pleiad Investment Advisors. We are making material progress with trials and are continuing to pursue commercial success in fiber and other applications."
Pleiad Director Kenneth Lee said, "We've been following PureCycle for a while now and are excited to partner with the company. We are extremely encouraged by the commercial applications and demand for PureCycle's products. We have been impressed with the Company's operational progress and tireless pursuit to get to this point. We are thrilled to be able to be invested with such a talented and focused team."
The offer and sale of the shares of common stock to be sold in the private placement are being made in a transaction not involving a public offering, and the shares have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any applicable state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and such applicable state securities laws. PureCycle has agreed to register the resale of the shares of common stock to be issued in the private placement with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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PureCycle Contact
Christian Bruey
cbruey@purecycle.com
Investor Relations Contact
Eric DeNatale
edenatale@purecycle.com
About PureCycle Technologies
PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com
Forward-Looking Statements
This press release contains forward-looking statements, including statements about the expected timing of the closing of the private placement and the expected use of proceeds from the private placement. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally relate to future events or PureCycle's future financial or operating performance and may refer to projections and forecasts. Forward-looking statements are often identified by future or conditional words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions (or the negative versions of such words or expressions), but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of PureCycle's management and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of this press release. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section entitled "Risk Factors" in each of PureCycle's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and PureCycle's Quarterly Reports on Form 10-Q for various quarterly periods, those discussed and identified in other public filings made with the Securities and Exchange Commission by PureCycle and the following: PCT's ability to obtain funding for its operations and future growth and to continue as a going concern; PCT's ability to meet, and to continue to meet, applicable regulatory requirements for the use of PCT's ultra-pure recycled ("UPR") resin in food grade applications (including in the United States, Europe, Asia and other future international locations); PCT's ability to comply on an ongoing basis with the numerous regulatory requirements applicable to the UPR resin and PCT's facilities (including in the United States, Europe, Asia and other future international locations); expectations and changes regarding PCT's strategies and future financial performance, including its future business plans, expansion plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and PCT's ability to invest in growth initiatives; the ability of PCT's first commercial-scale recycling facility in Lawrence County, Ohio (the "Ironton Facility") to be appropriately certified by Leidos, following certain performance and other tests, and commence full-scale commercial operations in a timely and cost-effective manner or at all; PCT's ability to meet, and to continue to meet, the requirements imposed upon it and its subsidiaries by the funding for its operations, including the funding for the Ironton Facility; PCT's ability to minimize or eliminate the many hazards and operational risks at its manufacturing facilities that can result in potential injury to individuals, disrupt its business (including interruptions or disruptions in operations at its facilities), and subject PCT to liability and increased costs; PCT's ability to complete the necessary funding with respect to, and complete the construction of, (i) its first U.S. multi-line facility, located in Augusta, Georgia, and (ii) its first commercial-scale European plant located in Antwerp, Belgium, in a timely and cost-effective manner; PCT's ability to procure, sort and process polypropylene plastic waste at its planned plastic waste prep facilities; PCT's ability to maintain exclusivity under the Procter & Gamble Company license; the implementation, market acceptance and success of PCT's business model and growth strategy; the success or profitability of PCT's offtake arrangements; the ability to source feedstock with a high polypropylene content at a reasonable cost; PCT's future capital requirements and sources and uses of cash; developments and projections relating to PCT's competitors and industry; the outcome of any legal or regulatory proceedings to which PCT is, or may become, a party including the securities class action and putative class action cases; geopolitical risk and changes in applicable laws or regulations; the possibility that PCT may be adversely affected by other economic, business, and/or competitive factors, including interest rates, availability of capital, economic cycles, and other macro-economic impacts; turnover in employees and increases in employee-related costs; changes in the prices and availability of labor (including labor shortages), transportation and materials, including inflation, supply chain conditions and its related impact on energy and raw materials, and PCT's ability to obtain them in a timely and cost-effective manner; any business disruptions due to political or economic instability, pandemics, armed hostilities (including the ongoing conflict between Russia and Ukraine and the conflict in the Middle East); the potential impact of climate change on PCT, including physical and transition risks, higher regulatory and compliance costs, reputational risks, and availability of capital on attractive terms; and operational risk.
SOURCE: PureCycle Technologies
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FAQ
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