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Dec 31, 2023
PureCycle Q4 2023 Earnings Report
PureCycle reported improvements to the Ironton purification facility, leading to increased pellet production.
Key Takeaways
PureCycle Technologies announced a corporate update for Q4 2023, highlighting improvements to the Ironton purification facility and the purchase of revenue bonds to improve capital structure. The company made progress towards continuously running the Ironton Facility and produced more than one million pounds of pellets in the first two months of 2024.
Improvements were made to the Ironton purification facility during the fourth quarter.
Approximately 200,000 pounds of pellets were produced in Q4 due to downtime and a planned outage.
The company purchased approximately 99% of its $249.5 million revenue bonds, removing restrictive covenants.
Over one million pounds of pellets were produced in the first two months of 2024.