PureCycle Technologies reports Q2 2024 progress with highest production month in June and $18M bond sale

PureCycle Technologies, Inc.

2024-Q2 EPS reported -$0.81

PureCycle's Ironton facility achieved highest production month in June with multiple days exceeding 100,000 pounds of pellets.
Company sold $22.5M notional of Southern Ohio Port Authority Revenue Bonds for $18M cash proceeds.
PureCycle received first orders for compounded PureFive material and is working with compounding partners.
Installed one optical flake-sorting line to reduce CP2; second larger line expected by end of September, combined output over 4M lbs/month.
Ended Q2 2024 with $10.9M unrestricted cash; CP2 recovery system remains a limiting factor.

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