Stock Track | PureCycle Technologies Soars Over 5% Pre-Market on Optimistic Q4 Update and Commercialization Progress

Stock Track
27 Feb

PureCycle Technologies Inc. (PCT) witnessed a significant surge of 5.91% in pre-market trading on Thursday, as investor sentiment was buoyed by the company's impressive fourth-quarter 2024 update and progress towards full-scale commercialization of its plastic recycling technology.

The key highlights that fueled PCT's pre-market rally include:

  • Continued operational enhancements at its Ironton, Ohio recycling facility, achieving record feed rates over 12,500 pounds per hour and onstream time of nearly 70% in December.
  • Successful product trials and the first major sale to companies like Drake Extrusion, Churchill Container, Procter & Gamble, and a leading automotive manufacturer, showcasing the quality of PCT's PureFive™ recycled resin.
  • The Denver, PA sorting facility coming online to provide high-quality polypropylene bales as feedstock for Ironton.
  • A $33 million equity raise completed in early February 2025 to support commercialization efforts.

With these positive developments, PCT appears to be making steady progress towards full-scale commercial operations, underpinning investor optimism and the pre-market stock surge. The company's ability to secure partnerships with major brands and achieve meaningful sales volumes in 2025 is seen as a significant milestone in its path to profitability.

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