Financial Data and Key Metrics Changes - The first quarter of 2025 marked the first reported revenues in the company's history, indicating significant progress [6][25] - The company ended the quarter with $37.5 million in cash, including $22.5 million of unrestricted cash, and raised just under $55 million through various transactions [30][31] Business Line Data and Key Metrics Changes - The company is currently engaged in over 30 trials, with 24 progressing to industrial stages, representing over £300 million in potential product sales [8][16] - The operational improvements led to the production of 4.3 million pounds of resin in the quarter, with an inventory of approximately 14 million pounds [23][25] Market Data and Key Metrics Changes - The company has seen increased interest in its products, particularly in the fiber and film markets, with significant potential for growth in these segments [21][22] - The BOPP film market is highlighted as a major opportunity, with the company successfully testing its product with Bruckner, a leading equipment supplier [20][21] Company Strategy and Development Direction - The company is focusing on a compounding strategy to better serve customer needs and improve operational flexibility, introducing two product lines: Pur5 Ultra and Pure5 Choice [10][12] - Future growth plans include scaling technology to higher capacities, reducing capital and operational expenditures, and improving overall profitability [26][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving meaningful EBITDA and cash flow, with 2025 expected to be a transformative year for the company [9][118] - The company is optimistic about the demand for its products, which is expected to outstrip supply, and is preparing for a revenue ramp in the second half of 2025 [51][85] Other Important Information - The company has made significant operational progress, achieving an on-stream time of almost 90% in April, a substantial improvement from previous performance [23][25] - The company is pursuing multiple paths of financing for its growth plans and intends to update the market with details once finalized [28][29] Q&A Session Summary Question: Strategy for selling inventory - Management decided to hold back some inventory to sell at higher values later in the year due to faster-than-expected performance in customer trials [35] Question: Growth plans and future facilities - The company is excited about growth plans, leveraging learnings from Ironton to design larger, more efficient plants [39][41] Question: Backlog and trial momentum - Management confirmed that the backlog has increased and that there is momentum in converting trials from pilot to industrial stages [49] Question: Pricing structure for products - The company is seeing a shift towards feedstock plus pricing, which is gaining traction among customers [68] Question: Liquidity and cash burn - Management expects cash burn to improve in the second half of the year as inventory is sold and operations stabilize [76][77] Question: Impediments to achieving full nameplate capacity - The company has made significant progress in reliability and is confident in ramping production as customer demand increases [108][109]

Financial Data and Key Metrics Changes - The first quarter of 2025 marked the first reported revenues in the company's history, indicating significant progress [6][25] - The company ended the quarter with $37.5 million in cash, including $22.5 million of unrestricted cash, and raised just under $55 million through various transactions [31] Business Line Data and Key Metrics Changes - The company is currently engaged in over 30 trials, with 24 progressing to industrial stages, representing over £300 million in potential product sales, an increase from the previous quarter [8][16] - The operational improvements led to the production of 4.3 million pounds of resin in the quarter, with an on-stream time of almost 90% in April, a significant improvement from previous performance [24][25] Market Data and Key Metrics Changes - The BOPP film market is identified as a significant opportunity, with the company successfully conducting trials with Bruckner, a leading equipment supplier, which could open doors to many brand owners [20][22] - The company anticipates that the demand for its products will continue to outstrip supply, with a nameplate capacity of 107 million pounds [52] Company Strategy and Development Direction - The company is focusing on a compounding strategy to better serve customer needs and provide operational flexibility, introducing two product lines: Pur5 Ultra and Pure5 Choice [10][12] - Future growth plans include scaling technology to higher capacities, which will reduce capital and operational expenditures, ultimately improving profitability [26][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving meaningful EBITDA and cash flow, citing operational reliability improvements and successful customer trials [9][25] - The company views 2025 as a transformative year, with expectations for significant revenue ramp-up in the second half of the year [51][119] Other Important Information - The company has made substantial operational progress at Ironton, with improvements in quality and reliability, and plans to continue optimizing economics [24][28] - The company is pursuing multiple paths of financing for future growth plans, with a focus on maintaining a strong cash position [29][31] Q&A Session Summary Question: Strategy regarding inventory and sales - The company decided to hold back some inventory to sell at higher values later in the year due to faster-than-expected performance in customer trials [34][36] Question: Growth plans and future facilities - Management discussed the learnings from Ironton that will inform future facility designs, aiming for larger plants that lower operational costs and improve returns [38][40] Question: Momentum in trials and commercialization - Management confirmed that 2025 is expected to be a transformative year, with continued progress in customer trials and a focus on flexibility in production allocation [50][52] Question: Pricing structure and liquidity - The company is seeing a shift towards feedstock plus pricing models, which are gaining traction among customers, and expects to minimize cash burn through inventory sales and revenue bonds [66][71] Question: Impediments to achieving full nameplate capacity - Management noted that reliability issues have been addressed, and they are confident in ramping production as customer demand increases [107][110]

First Quarter 2025 Corporate Update May 7, 2025 Confidential Information. Do Not Distribute. 11 Confidential Information. Do Not Distribute. Forward-Looking Statements This press release contains forward-looking statements, including statements about the continued execution of PureCycle's business plan, the expected results of tests and trials, the expected timing of commercial sales, and planned future updates. In addition, any statements that refer to projections, forecasts or other characterizations of f ...

Financial Performance - PureCycle Technologies, Inc. reported first quarterly revenues of approximately $1.6 million during Q1 2025, with ongoing customer trials expected to lead to higher future revenues [258]. - The company reported approximately $1.6 million in revenues for the first quarter ended March 31, 2025, marking its first period of meaningful operations and sales [286]. - Total cost of operations increased by approximately $2.1 million for the three months ended March 31, 2025, compared to the same period in 2024, driven by higher production-related costs and employee-related expenses [287]. - Research and development expenses decreased by approximately $0.3 million for the three months ended March 31, 2025, primarily due to lower employee costs [288]. - Selling, general and administrative expenses decreased by approximately $1.5 million for the three months ended March 31, 2025, mainly due to lower legal costs [289]. - The company experienced an operating loss of $37.7 million for the three months ended March 31, 2025, an improvement of $1.3 million compared to the same period in 2024 [285]. - As of March 31, 2025, the company had approximately $22.5 million in cash and cash equivalents and $15.0 million in restricted cash [299]. - Net cash used in operating activities for Q1 2025 was $38.9 million, a slight improvement from $39.2 million in Q1 2024 [308]. - Cash used in investing activities for Q1 2025 was approximately $15.0 million, compared to cash provided of $32.0 million in Q1 2024 [311]. - Net cash provided by financing activities was approximately $49.8 million in Q1 2025, a significant increase from net cash used of $255.4 million in Q1 2024 [312]. - The company reported a decrease in cash and cash equivalents from $41.5 million at the beginning of the period to $37.5 million at the end of Q1 2025 [308]. - The company raised approximately $33.0 million through a private placement of 4,091,293 shares at a price of $8.0655 per share on February 5, 2025 [303]. - As of March 31, 2025, the company had $99.0 million of outstanding bonds intended for re-marketing to enhance liquidity [305]. - The company has a $200.0 million unused Revolving Credit Facility with Sylebra Capital, expiring on September 30, 2026, accruing interest at SOFR plus 17.5% [305]. Operational Developments - The Ironton Facility is expected to have a production capacity of approximately 107 million pounds of PureFive™ resin per year when fully operational, with commissioning activities ongoing [257]. - The Augusta Facility is projected to have a total production capacity of approximately 1 billion pounds of PureFive™ resin per year, with each purification line expected to produce around 130 million pounds annually [260]. - The company has committed to creating 82 full-time jobs and investing at least $440 million by December 31, 2026, to receive certain incentive benefits related to the Augusta Facility [261]. - The research and development lab in Durham, North Carolina, opened in 2024, focusing on developing analytical techniques and supporting zero-waste efforts [259]. - The Feedstock Evaluation Unit has been operational since July 2019, producing PureFive™ resin and serving as a pilot scale for the larger commercial line [256]. - The company is focused on improving operating rates, reliability, and product quality at the Ironton Facility while engaging in customer sampling and qualifications [257]. - The company plans to build and operate additional Feed PreP facilities geographically near feed sources to optimize supply chain economics [273]. - The company announced plans for its first European purification facility in Antwerp, Belgium, and is also looking to expand production capabilities into Asia [278]. - The company received FDA food contact clearances for its PureFive™ resin, allowing it to be used in contact with all food types under specified conditions [276]. - The company is currently in various stages of customer application trials, which are anticipated to generate revenue growth in future periods [286]. Strategic Initiatives - The company has a global license for its patented dissolution recycling technology from Procter & Gamble, which was amended in 2025 to extend exclusivity terms [252]. - The construction of the Augusta Facility is subject to progress requirements, with potential risks of losing incentive benefits if milestones are not met [266]. - The company is currently pursuing various structures for project financing of the Augusta Facility due to market conditions creating uncertainty [266]. - The company plans to seek additional debt or equity financing to support future growth and investment needs [306]. - The company is exploring additional financing options to support its growth strategy and operational needs [10.2]. - The company is in the process of expanding its market presence and has made amendments to its credit agreements to support growth initiatives [10.3][10.5]. - The company has engaged in strategic mergers and acquisitions to bolster its market position, as evidenced by the agreement and plan of merger dated November 16, 2020 [2.1]. Governance and Compliance - The CEO and CFO provided certifications for the financial results, ensuring compliance with regulatory requirements [31.1][31.2][32.1][32.2]. - PureCycle Technologies has undergone significant corporate governance changes, including amendments to its certificate of incorporation and bylaws [3.2][3.3][3.5]. - PureCycle Technologies is committed to transparency and has made efforts to provide detailed financial disclosures in compliance with SEC regulations [337]. Future Outlook - Future outlook remains optimistic as the company continues to innovate and expand its operational footprint in the industry [10.1]. - The company is actively pursuing new product development and technological advancements to enhance its operational capabilities [10.4]. - Financial statements indicate a focus on improving stockholder equity and cash flow management for the quarter [336].

[PureCycle Technologies, Inc. Form 8-K Filing (May 7, 2025)](index=1&type=section&id=PureCycle%20Technologies%2C%20Inc.%20Form%208-K%20Filing%20%28May%207%2C%202025%29) [Item 2.02: Results of Operations and Financial Condition](index=3&type=section&id=Item%202.02%3A%20Results%20of%20Operations%20and%20Financial%20Condition) PureCycle Technologies, Inc. announced its first quarter 2025 financial results via a press release and incorporated investor presentation information - The company issued a press release on **May 7, 2025**, announcing its financial results for the **first quarter ended March 31, 2025**[8](index=8&type=chunk) - The press release is attached as **Exhibit 99.1** and incorporated by reference into this report[8](index=8&type=chunk) - Information from the investor presentation (Item 7.01) is also incorporated by reference into this item[8](index=8&type=chunk) [Item 7.01: Regulation FD Disclosure](index=3&type=section&id=Item%207.01%3A%20Regulation%20FD%20Disclosure) A slide presentation, attached as Exhibit 99.2, was made available to investors on May 7, 2025, for current and future communications - An investor slide presentation was made available on **May 7, 2025**[9](index=9&type=chunk) - The presentation is attached to the report as **Exhibit 99.2** and incorporated by reference[9](index=9&type=chunk) [Item 9.01: Financial Statements and Exhibits](index=3&type=section&id=Item%209.01%3A%20Financial%20Statements%20and%20Exhibits) This section lists exhibits filed with the Form 8-K, including the financial results press release, investor presentation, and Inline XBRL cover page Exhibits Filed with the Form 8-K | Exhibit Number | Description of Exhibit | | :--- | :--- | | 99.1 | Press Release by PureCycle Technologies, Inc., dated May 7, 2025 | | 99.2 | PureCycle Technologies, Inc. presentation to investors | | 104 | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL |

Group 1: Archer Aviation - Archer Aviation has faced stock volatility but continues to achieve significant milestones in 2025, indicating potential for future growth [3][5] - Recent developments include plans for air taxi services in Abu Dhabi and a $30 million agreement with Ethiopian Airlines for eVTOL aircraft [4] - The company is progressing towards receiving necessary FAA certifications, positioning itself as a disruptor in urban air transport [5] Group 2: PureCycle Technologies - PureCycle Technologies, a leader in plastic recycling, has seen stock declines not due to company missteps but general market sentiment [6][7] - The company has started generating revenue, including a notable sale of 500,000 pounds of resin to Drake Extrusion, validating its technology [8] - Progress at the Ironton recycling facility has ramped up operations to 88% of capacity, with an annual production capacity of 107 million pounds of resin [9] Group 3: VanEck Semiconductor ETF - The VanEck Semiconductor ETF offers a conservative approach to gaining exposure to the AI sector amidst recent market sell-offs [10] - Major holdings include Nvidia and Taiwan Semiconductor Manufacturing, which together account for about 30% of the fund [11] - The ETF has a total of 26 holdings, with the top five representing nearly 50% of the fund, and it provides annual distributions [12]

Fourth Quarter 2024 Corporate Update February 27, 2025 Confidential Information. Do Not Distribute. 11 Confidential Information. Do Not Distribute. Forward-Looking Statements This press release contains forward-looking statements, including statements about the continued expansion of PureCycle's business plan, the expected time of commercial sales, the commercialization of Ironton operations, the expected increase in production of the Ironton operations, the planned compounding operations, the sourcing of m ...

Financial Data and Key Metrics Changes - The company ended the fourth quarter with just under $16 million of unrestricted cash and raised $33 million in February through subscription agreements [70][72][74] - Cash expenses for Q4 totaled $68 million, including $36 million for equipment related to growth projects, resulting in adjusted cash expenses of around $27 million [76][78] Business Line Data and Key Metrics Changes - The company compounded 4 million pounds of material for fiber applications in Q4, leading to a purchase order from Drake Extrusion [39][41] - The company is engaged in 29 trials with potential customers, of which 16 are on an industrial scale, indicating significant demand potential [42][43] Market Data and Key Metrics Changes - The rigid packaging market for polypropylene in North America is approximately 3.8 billion pounds per year, with the company engaged in seven pilot application trials and five industrial trials [44][45] - The automotive market is expected to grow, with approximately 100 pounds of polypropylene per car, and proposed regulations in Europe and Japan aim for 25% recycled content per vehicle by 2030 [50][51] Company Strategy and Development Direction - The company is pursuing a vertically integrated strategy that connects the purchase of bales to the sale of compounded material, aiming to control its destiny in a nascent feedstock market [17][18] - The company is focused on expanding its technology globally, with plans for growth in Europe and Asia, and has already purchased long-lead equipment for future projects [100][102] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the commercialization of Ironton, noting that operational progress is expected to follow an S-curve with significant improvements in production rates and reliability [23][61] - The company anticipates that successful customer applications will lead to increased demand and the need for global expansion [43][49] Other Important Information - The company is in the process of acquiring third-party certification for its product, which is expected to apply retroactively to 7.2 million pounds of finished product in inventory [26] - The company has a strong relationship with Procter and Gamble, entering industrial trials for five different applications, indicating a solid partnership moving forward [30][32] Q&A Session Summary Question: Can you elaborate on the confidence regarding the commercial ramp? - Management highlighted the excitement from successful customer trials, particularly with Drake, which boosts confidence in their ability to meet customer needs [81][82] Question: Can you comment on the current cash position and financing plans? - The company ended the quarter with $15 million of unrestricted cash and raised $33 million in February, with confidence in selling revenue bonds in the near term [84][85] Question: What are the current unit economics regarding sales price and feedstock costs? - Management stated that the sales price remains strong at approximately $1.36 per pound, with good variable cost components and a favorable breakeven range [91][94] Question: Can you discuss future growth projects and timelines? - The company is well-positioned for growth, with relationships in place for projects in Augusta and Antwerp, and has purchased long-lead equipment for future lines [100][102] Question: How is production capacity being managed in relation to customer needs? - Management indicated that production levels are not a limiting factor; rather, the focus is on meeting specific customer application requirements [115][116] Question: What is the current cash burn rate? - The cash burn rate has increased to approximately $9 to $9.5 million, but the company has sufficient liquidity with revenue bonds to support operations [125] Question: Can you provide an update on the Augusta project? - The Augusta site is on track, with civil work ongoing, and the company expects improved financing rates as Ironton continues to perform well [128] Question: What is the status of the automotive pilot projects? - Interest in automotive applications has increased, with ongoing trials and discussions about integrating the company's products into various vehicle components [144][150]

PureCycle (PCT) Q4 2024 Earnings Call February 27, 2025 10:00 AM ET Company Participants Eric DeNatale - Director - IRDustin Olson - Chief Executive OfficerJaime Vasquez - Chief Financial OfficerAadit Shrestha - Equity Research Associate Conference Call Participants Andres Sheppard - AnalystHassan Ahmed - Senior Equity AnalystEric Stine - Senior Research AnalystThomas Boyes - AnalystGerard Sweeney - Managing Director & Senior Research Analyst Operator Ladies and gentlemen, thank you for standing by. Welcome ...

Production Capacity - PCT's Ironton Facility is expected to achieve a production capacity of approximately 107 million pounds of PureFive™ resin per year when fully operational [174]. - The Augusta Facility is planned to have a total production capacity of approximately 1 billion pounds of PureFive™ resin per year, with each purification line expected to produce around 130 million pounds annually [181]. - PCT's Denver Facility began operating in October 2024 to provide the necessary feedstock for the Ironton Facility [191]. Financial Performance - Net loss for 2024 was $289.1 million, a 184% increase compared to a net loss of $101.7 million in 2023, and a 20% increase from a loss of $84.7 million in 2022 [203]. - Total operating costs and expenses increased to $145.4 million in 2024, up 28% from $113.9 million in 2023, and up 40% from $81.3 million in 2022 [203]. - The company reported a loss per share of $1.75 for 2024, compared to a loss per share of $0.62 in 2023, indicating a significant increase in loss per share [346]. Liquidity and Debt - Unrestricted liquidity as of December 31, 2024, was $15.7 million, down from $121.6 million in 2023 [216]. - The company has $66.2 million in debt service and equipment finance payments due within one year as of December 31, 2024 [220]. - Cash and cash equivalents at the end of the period decreased by 86% to $41.5 million from $302.5 million in 2023 [229]. Research and Development - PCT's research and development expenses are expected to increase as the company invests in feedstock evaluation and new mechanical separators to improve feedstock purity [201]. - Research and development expenses decreased slightly to $6.4 million in 2024, a 3% decrease from $6.6 million in 2023, but a 52% increase from $4.4 million in 2022 [203]. Operational Challenges - The company has experienced intermittent mechanical challenges during the commissioning process, impacting the production of consistent, high-quality PureFive™ resin [179]. - PCT has experienced mechanical challenges at the Ironton facility, impacting production rates and product quality, but is implementing operational enhancements to address these issues [217]. Capital and Financing - On September 11, 2024, the company raised approximately $90 million through a private placement of Series A Preferred Stock, Common Stock, and Series C Warrants [218]. - The company entered into a $150 million revolving credit facility on March 15, 2023, with interest rates varying from 5.00% to 17.50% based on the period [245][247]. - The company completed a private offering of $250 million in Green Convertible Senior Notes with a 7.25% interest rate, netting approximately $218.5 million for financing Eligible Green Projects [272][273]. Future Plans - PCT plans to ramp up commercialization efforts, expecting meaningful sales going into 2025 [223]. - The company plans to expand its production capabilities into Europe and Asia, with a purification facility planned in Antwerp, Belgium, and negotiations for joint ventures in Japan [197]. Sustainability and Innovation - The Company has focused on sustainability opportunities through its PureFive™ resin, supporting a circular economy and advancing recycling technologies [276]. - The Feedstock+ pricing model is expected to provide protection against increased prices in obtaining and processing raw materials utilized in the purification process [320]. Market and Risk Management - The company has no investments in swaps, options, futures, or forward contracts, managing market risk by holding only highly liquid, minimum "A" rated securities [318]. - The company has classified both Series B and Series C Warrants as liabilities under ASC 815 due to the leverage introduced by the Black-Scholes Value calculation [308][312].