PureCycle Technologies (PCT) Stifel 2024 Cross Sector Insight Conference summary

Operational progress and reliability

• Ironton facility now operates continuously for multiple days, a significant improvement from prior variability and outages.

• Over 100 reliability issues were addressed during an April outage, leading to improved plant stability.

• The team has adapted from pilot to commercial scale, enhancing operational expertise and consistency.

• Key mechanical and process improvements have enabled sustained production and higher utilization rates.

• Power outage recovery has improved, with ongoing projects to further enhance reliability and on-site generation.

Market positioning and customer engagement

• Actively working with existing and new customers to approve commercial-scale product, especially for film and fiber applications.

• Entering underserved markets, such as film and fiber, which represent about 40% of global demand.

• Technology enables removal of contaminants, making products suitable for applications previously underserved by recycled materials.

• Ongoing product testing and customer approvals are required for new applications.

Feedstock and technology differentiation

• No current constraints on feedstock supply; both post-industrial and post-consumer polypropylene are accessible.

• Technology can process higher-contaminant feedstocks, providing a competitive advantage.

• Market is undersupplied for recycled material, and the process can purify both PIR and PCR streams.

• Anticipates that improved technology will attract more feedstock and create new market lanes.