This financial boost coincides with a partnership with IRPC to establish a new facility in Thailand, marking a pivotal step in the company's global growth trajectory.
PureCycle Technologies, a leading innovator in plastic recycling, announced on June 17, a monumental capital raise of $300 million. This substantial investment will underpin PureCycle's bold vision to establish one billion pounds of installed recycling capacity across key global markets by the end of the decade, a move poised to significantly impact the circular economy for plastics.
A cornerstone of PureCycle’s expansion strategy is its newly forged partnership with IRPC Public Company Limited (IRPC), a trailblazer in Southeast Asia’s Petrochemical Industry. This collaboration will see the construction of a new 130-million-pound Polypropylene (PP) recycling facility within IRPC’s eco-industrial zone in Rayong, Thailand. The strategic location will allow PureCycle to leverage IRPC’s existing site infrastructure, including deep-sea ports, oil depots, and power plants, significantly reducing construction costs and accelerating project timelines. Construction in Thailand is slated to commence in the latter half of 2025, with the facility expected to be operational by mid-2027.
This Thai partnership, coupled with ongoing progress with European counterparts, has invigorated PureCycle’s growth plans. The company intends to establish a 130-million-pound line in both Thailand and Antwerp, Belgium. Furthermore, PureCycle will integrate lessons learned from its Ironton facility into the design of its Augusta, Georgia, facility, transforming it into a larger, next-generation (Gen 2) plant. The final design for the Augusta Gen 2 facility is anticipated to exceed 300 million pounds per year before compounding, with precise capacity details to be unveiled in early 2026 following the completion of engineering activities.
Both Thailand and Antwerp offer crucial advantages to PureCycle, including access to mature feedstock opportunities, robust infrastructure synergies, and low-risk expansion prospects. The company is actively pursuing permitting in Europe, with final approvals expected in 2026. The Antwerp facility is projected to begin operations in 2028.
Closer to home, construction on the Augusta Gen 2 facility is set to begin in mid-2026. This facility will be fully integrated with pre-processing (PreP) and compounding assets, maximizing the benefits of the greenfield expansion at Augusta. PureCycle anticipates the Augusta PreP facility to be operational by mid-2026, with the first Augusta purification line coming online in 2029.
This strategic financial maneuver positions PureCycle to aggressively pursue its global expansion, solidifying its role as a leader in the sustainable plastics economy.
