PureCycle secures US$300M to accelerate global plastic recycling expansion

GLOBAL – Plastic recycling company PureCycle Technologies has announced the successful raise of US$300 million in capital, marking a pivotal step in its mission to scale global polypropylene recycling.

This funding will drive the company’s goal of establishing one billion pounds of installed recycling capacity by 2030 across the United States, Europe, and Asia.

The capital infusion comes through collaborations with both existing and new investors, including the Duquesne Family Office and Wasserstein Debt Opportunities.

These funds will support several upcoming facilities, including a new partnership with IRPC Public Company Limited, a Southeast Asian petrochemical firm, to build a 130-million-pound recycling line in Thailand’s Rayong Province.

Strategically situated in IRPC’s eco-industrial zone, the plant will leverage existing utilities and a deep-sea port, reducing construction and operational costs. Construction is expected to begin in late 2025, with operations commencing by mid-2027.

Parallel to the Thai project, PureCycle is developing a 130-million-pound recycling facility in Antwerp, Belgium—an important step in expanding its European footprint.

This site was selected for its strong infrastructure and mature polypropylene feedstock availability.

Permitting is currently underway, with final approvals anticipated by 2026 and operations expected to start in 2028.

In the United States, PureCycle is enhancing its Augusta, Georgia facility with a next-generation Gen 2 recycling line.

With a planned capacity of over 300 million pounds per year, the Augusta site will integrate learnings from the company’s Ironton facility to optimise technology and scale.

The Augusta PreP facility is set to be operational by mid-2026, while the purification line is targeted for a 2029 launch.

These efforts are part of a broader strategy to replicate PureCycle’s innovative recycling model globally.

In a similar move in April 2025, PureCycle partnered with Germany-based Landbell Group to advance polypropylene recycling in Europe, particularly in aligning regulatory and logistical frameworks for collection and processing.

Past projects such as the commissioning of the Ironton, Ohio facility, which became fully operational in 2023, demonstrated PureCycle’s patented process for converting waste polypropylene into virgin-like resin.

This success laid the groundwork for current and future expansion.

CEO Dustin Olson stated, “Following significant production progress at the Ironton facility, the time for growth is now. These new investments will enable us to scale our vision globally with strong partners who share our commitment to sustainable innovation.”

With these strategic expansions, PureCycle is positioning itself at the forefront of circular plastics solutions, offering a scalable model for addressing the global polypropylene waste crisis.

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