US polypropylene (PP) recycler PureCycle Technologies said it has raised $300mn to build 1bn lbs/yr of new recycling capacity before 2030 in the US, Europe and Asia.
PureCycle turns PP plastic waste into a product that can be recycled and reused multiple times. PureCycle currently operates an Ironton, Ohio, facility with a nameplate capacity of 107mn lbs/yr. It previously announced plans for another facility in Augusta, Georgia, but with the new funding will accelerate expansion plans in Rayong, Thailand, and at the Port of Antwerp's NextGen district first. The Thailand and Antwerp plants will each have a capacity of 130mn lbs/yr, while the Augusta expansion, which will utilize second generation technology, will have a capacity of 300mn lbs/yr.
PureCycle is partnering with Integrated Petrochemical Pioneer (IRPC) to construct the PP recycling facility in Rayong. Construction will begin in late 2025 and will become operational mid-2027. Work on the Antwerp and Augusta facilities will begin in 2026 and the plants will be operational in 2028 and 2029, respectively.
PureCycle said it opted to proceed with the Thailand and Antwerp project before the Augusta expansion because both sites have existing infrastructure and access to feedstocks, which will bring down construction and operation costs and bring the facilities online faster.
