By: Pravin Prashant
Last updated : June 28, 2025 9:10 am
PureCycle establishes partnership with IRPC to build future facility in Thailand
PureCycle Technologies, a U.S.-based company revolutionizing plastic recycling, announced the plan to bring one billion pounds of installed capacity online before 2030 across the United States, Europe and Asia.
This plan is catalyzed by the execution of binding agreements for a $300 million capital raise. The Company entered into a transaction with a series of new and existing investors, including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors and Sylebra Capital Management.
PureCycle CEO Dustin Olson said, "Following significant production progress at the Ironton Facility, momentum in our commercialization efforts and confidence in financing efforts, the time for growth is now. Over the last several years, we have continued to invest time and resources in progressing our global growth plans and this capital will allow us to execute on those plans. We're excited to share these attractive investment projects with investors." Olson added, "This is an impressive group of investment organizations and we are thankful for their continued support."
This capital raise coincides with the start of a new partnership with IRPC Public Company Limited (IRPC), Southeast Asia's petrochemical pioneer, to build a new polypropylene (PP) recycling facility in Thailand. This will allow PureCycle to construct a 130-million-pound line at IRPC's eco-industrial zone in Rayong, Thailand.
The company will build one 130-million-pound line in both Thailand and Antwerp. Then, after integrating the learnings from Ironton into the base design package, the Company will enhance the Augusta facility to house a larger Gen 2 line. The final Gen 2 design for Augusta is expected to have a capacity of greater than 300 million pounds per year, before compounding, and the actual design capacity will be announced in early 2026 following the completion of the engineering activities.
Both Thailand and Antwerp offer PureCycle access to mature feedstock opportunities, strong infrastructure synergies and low-risk expansion opportunities. PureCycle is currently advancing the permitting process in Europe and expects to receive the final permits in 2026. The Antwerp Facility is projected to be operational in 2028.