AI Earnings Predictions for PureCycle Technologies Inc. (PCT)

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Exhibit 99.1

PureCycle Technologies Reports Second Quarter 2026 Results

• First P&G commercial resin deliveries began, with select Downy detergent caps now in commercial production

• Revenue of $4.5 million, up approximately 173% year-over-year and a sixth consecutive quarter of sequential growth

• New Jersey Department of Environmental Protection approved PureFive® resin as post-consumer recycled content

• On-site compounding now operating, giving PureCycle the ability to deliver product meeting customers' unique specifications

• Initial Shipments of PureFive® resin made in third quarter to all three major converters for QSR cold cup trials

ORLANDO, FLA., August 6, 2026, — PureCycle Technologies, Inc. (Nasdaq: PCT) (“PureCycle” or the “Company”), a U.S.-based company revolutionizing plastic recycling, today announced results for the second quarter ending June 30, 2026.

Second Quarter 2026 Highlights

Commercial

• Seven new customer conversions during the quarter

• First P&G commercial resin deliveries began in the second quarter, with select Downy detergent caps added as a new approval; select Tide detergent caps scheduled for retail production in Q3 and Vicks ZzzQuil PURE Zzzs child-resistant lids targeted for Q4 2026

• Six new commercial partnerships were announced during the quarter: Reliable Caps, Motherson, Innovia Films, RM Tochello, IPL Schoeller / Cleveland Kitchen, and Amcor, spanning closures, caps, automotive, film and food packaging

• State regulation is a powerful demand tailwind: the New Jersey approval is secured and the State’s food-contact exemption expires in January 2027, with the recycled-content requirement rising to 20%; California SB54 is now in effect; PureFive® qualifies as recycled content via APR certification. Demand is broader than any single regulation

• Q3 to date: shipped compounded product to major converters for quick-service restaurant (QSR) cold cups; the New Jersey approval accelerated qualification at two major QSRs

• Forward demand: the Company expects branded sales volumes to build through the second half as compounding scales and regulation-driven demand converts to customer adoption

Operations

• Q2 PureFive® production of 4.5 million pounds, down as previously communicated for the planned turnaround

• Turnaround completed ahead of schedule and below budget, with more than 170 reliability and rate projects executed; the two largest reliability constraints of the past year, the CP2 system and mechanical seals, were both substantially improved during the outage

• Turnaround inspections were favorable; large equipment observed to be clean with no evidence of corrosion, a good indicator of future reliability

• Successfully commissioned on-site compounding in April with Ironton compounded volume of approximately 2.0 million pounds and approximately 28 sample lots produced; current operation is running 24/5 shifts, with plans to expand to 24/7 in Q4

• PureCycle achieved ISO 9001:2015 certification in May, an independent validation of the quality management systems underpinning consistent product delivery

• Feedstock supply secured, with Denver running at levels needed for Ironton production

Growth

• Thailand Facility expected to be operational in 2028; groundbreaking expected in 2H 2026; total project cost estimate remains in the $250 million range

• Thailand Board of Investment approval was received in the second quarter, including selection for the “Fast Pass” program

• Thailand project financing progressing, with binding terms currently being negotiated and financial close targeted by year-end. Anticipated project debt is sized to fund remaining construction

• Thailand feedstock and offtake: seven signed LOIs with Thai suppliers covering more than the plant's annual feedstock requirement (1.5-2.4x’s coverage), and 14 signed sales offtake LOIs (0.8-1.4x’s coverage)

• Belgium Facility permits expected by 1H 2027; Gen2 design work continues to progress

Finance

• Total liquidity of $236.9 million at quarter-end, strengthened by the June concurrent offering of convertible senior notes and common stock

• Operations spending of $8.3 million per month, excluding feed and compounding material purchases; Ironton turnaround costs tracked separately from ongoing operations spending

Management Commentary

“Our customers are moving faster now, because compliance with new regulations is imminent,” said Dustin Olson, Chief Executive Officer of PureCycle Technologies. “Our solution has been recognized by New Jersey, Ironton is more reliable coming out of the turnaround, and in-house compounding lets us deliver the unique grades that US and global markets require.”

Olson continued, “These improvements provide fundamental solutions that our customers are demanding and supports a growing and converting pipeline. Today’s demand is a validation of the technical achievements we demonstrated over the last two years. As

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Exhibit 99.1

PureCycle Technologies Reports First Quarter

2026 Results

• Ironton turnaround completed ahead of schedule and under budget

• Record 8.4 million pounds of quarterly production

• Fifth consecutive quarter of sequential revenue growth

• Achieved final approval for commercialization of two Procter & Gamble (P&G) applications

• Macro environment is increasingly favorable as virgin resin prices rise significantly more than recycled feedstock costs

ORLANDO, FLA., – May 6, 2026 – PureCycle Technologies, Inc. (Nasdaq: PCT) (“PureCycle” or the “Company”), a U.S.-based company revolutionizing plastic recycling, today announced results for the first quarter ending March 31, 2026.

First Quarter 2026 Highlights

Operations

• Record quarter for production, surpassing the prior quarterly high; approximately 10 million pounds of feedstock throughput, also a new quarterly record

• On-site compounding mechanically complete in April; focused on producing PureFive Choice™ resin for polypropylene (“PP”) film and thermoform applications

• Ironton Facility turnaround completed ahead of schedule and tracking below budget; incorporated improvement projects targeting higher reliability, production rates, and product quality; product inventory built ahead of the outage to maintain customer shipments

Commercial

• Fifth consecutive quarter of sequential revenue growth, with continued progress in the application pipeline and branded conversions across multiple product categories

• Reaffirming 40-50MM lbs. of demand beginning to ramp in Q2/Q3; 20-25MM lbs. of demand beginning to ramp in Q3/Q4

• PureFive® resin passed qualification for first P&G application and slated for first pellet delivery in Q2; PureFive® resin passed qualification for second application and expected to ship in 2H 2026; Joint product quality study with P&G showed PureCycle process leads to highest CosPaTox purity rating

• New Jersey recycled content application is in review with NJ Department of Environmental Protection (NJDEP); continue to progress positive discussions with all levels of NJDEP and NJ government

Macro Environment

• Global petrochemical supply disruption has increased both virgin resin and recycled feedstock costs; however, virgin PP prices have risen more than PureCycle’s feedstock costs, creating a more favorable environment for the pricing and marketability of recycled content

• Rising virgin resin prices are also expected to improve co-product pricing dynamics

Growth

• Thailand Facility currently on track for mechanical completion by end of 2027; expect to break ground in the second half of 2026; total investment currently expected to be approximately $250 million

• Belgium Facility permits expected near year-end 2026; construction expected to begin in Q1 2027; mechanical completion by the end of 2028

• Finalized documentation for the €40 million grant from the European Innovation Fund for the Belgium Facility construction

• Gen-2 design work continues to progress with initial capacity and cost estimates remaining encouraging

Finance

• Operations spending within $8–9 million monthly expectations; Q1 Company total of $27.4 million includes $1.3 million annual incentive compensation payout

• Public and private warrants expiration date extended to March 17, 2027 with redemption trigger price reduced to $14.38 per share, consistent with the Series A warrants

• Potential warrant proceeds totaling approximately $273 million; all warrants now share the same March 17, 2027 expiration date

Management Commentary

“Our commercial ramp remains on track for 2026. We achieved our internal sales plan in Q1, our fifth consecutive quarter of sequential revenue growth, and we’re seeing tangible momentum as our commercial pipeline converts into contracted demand,” said Dustin Olson, Chief Executive Officer of PureCycle Technologies. “Against a backdrop of improving macro tailwinds, we believe we’re entering a phase where execution and scale should increasingly differentiate our platform.”

Olson continued, “The current global petrochemical supply disruption is reinforcing the relative strength of our model. Virgin polypropylene prices have risen significantly more than our feedstock costs, which have seen only modest movement. This is narrowing the cost premium of recycled content versus virgin and accelerating customer urgency around securing supply.”

“This quarter we introduced a set of metrics that enable investors to more clearly evaluate our business and track our progress over time, said Donald Carpenter,” Chief Financial Officer of PureCycle Technologies. “This disclosure represents an important first step, and we intend to continuously refine and evaluate it as our financial performance evolves and matures.”

Financial Update

Financial Results

Net loss for Q1 2026 was $(33.4) million compared to net income of $8.8 million in Q1 2025. Adjusted EBITDA for Q1 2026 was $(30.

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EXHIBIT 99.1

PureCycle Technologies Reports Fourth Quarter Fiscal Year 2025 Results & Corporate Update

Company achieves record 7.5 million pounds of PureFive® production in Q4; appoints Donald Carpenter as CFO; progresses Gen-2 design showing path to costs below virgin polypropylene

Orlando, Fla. – February 26, 2026 – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced results for the fourth quarter and fiscal year ending December 31, 2025.

Fourth Quarter 2025 Highlights

Operations

• Produced record 7.5 million pounds of PureFive® rPP in Q4

• Added third shift at Denver, Pennsylvania sorting facility, increasing feedstock throughput by 44% quarter-over-quarter to 14 million pounds

• New Ironton CP2 compounding online; on-site PureFive ChoiceTM product compounding unit expected to be mechanically complete in March

• Improved feedstock procurement pricing by 6 cents per pound over the last 12 months, driven primarily by operational flexibility and improving market positions

Commercial

• Achieved fourth consecutive quarter of sequential revenue growth with $2.7 million in Q4 revenue

• Actively shipping to 11 customers with additional conversions expected as early as March 2026; pipeline exceeds 170 active opportunities across various stages of qualification

• Successfully produced high-value technical packaging applications including BOPP film snack wrappers, stand-up pouches, food-grade containers, and branded closures

• Applications representing 40–50 million pounds at full ramp remain on track for Q2/Q3 2026 start of ramp, with an additional 20-25 million pounds at full ramp on track for Q3/Q4 start

Growth

• Thailand project on track for 2027 mechanical completion; signed nine feedstock LOIs exceeding first purification line capacity; currently expect to break ground in 2H 2026

• Antwerp, Belgium project progressing with permits still expected 2H 2026; construction currently expected to begin by Q1 2027; mechanical completion expected by 2028

• Gen-2 purification initial design results show no technical constraints on plants up to 500 million pounds of capacity; corresponding capital expenditure approaching $1.00–$1.50 per pound

• Gen-2 cash costs expected to be below virgin on-purpose polypropylene production

Finance

• Ended Q4 with $181.6 million in total cash and marketable securities

• Core operations spending in line with prior guidance at approximately $8–9 million per month

• Repaid $20.3 million in high-cost equipment debt and retired $9.8 million in Ironton Bonds per schedule

• Extended expiring Series A warrants for one year with lowered call provision; provided three-month extension to public/private warrants; further details included in 8-K filing

• Thailand debt financing progressing with data room open and active weekly reviews with a major Thai bank

Management Commentary

“The fourth quarter was another period of progress and execution for PureCycle,” said Dustin Olson, Chief Executive Officer of PureCycle Technologies. “We ramped our operations in Denver and Ironton, advanced our customer pipeline, and made meaningful progress on our growth in Thailand. I have never felt better about our ability to reliably supply Ironton as we ramp toward full production rates.”

Olson continued, “When I take a step back, 2025 was very much a year of technical qualifications and successes. Being able to develop food-grade quality products like film for flexible food packaging, coffee lids, stand-up pouches, and yogurt cups should set us up incredibly well for the future. Looking ahead, 2026 goals are about the commercial ramp and work toward selling out the plant.”

On the Gen-2 design progress, Olson added, “This is incredibly important to the long-term future of PureCycle. We’ve known for years that our process consumes significantly less energy than virgin production, but now we are seeing that cost efficiencies of a higher capacity unit should translate into a permanent cost and return advantage in a market that represents approximately 200 billion pounds per year of annual demand.”

Operational Update

PureCycle’s Ironton facility continued to ramp production in the fourth quarter, producing a record 7.5 million pounds of PureFive® recycled polypropylene, with intermittent record daily production rates also achieved during the quarter. The Company is pacing production levels ahead of the commercial ramp, indicating expected further upside as customer demand scales.

The Denver sorting facility added a third shift during the quarter, resulting in a 44% increase in feedstock processed versus Q3. Denver ramped to 14 million pounds of feedstock in Q4, a 35% increase over its prior quarterly high. The Company is actively sourcing from more than 15 feedstock suppliers, including the largest domestic producers, and has reduced procurement costs by 6 cents per pound over the pas

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EXHIBIT 99.1

PureCycle Technologies Third Quarter 2025 Corporate Update

Orlando, Fla. – November 6, 2025 – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, announced today a corporate update for the third quarter ending September 30, 2025.

Management Commentary

PureCycle CEO Dustin Olson said, “The third quarter was one of continued growth for the Company. The Ironton Facility produced a record 7.2 million pounds of pellets, which is nearly equal to the amount produced in the first half of 2025.” Olson continued, “We now see momentum with brand owners and converters who are moving beyond trials and beginning to purchase our resin. This has allowed us to build out a comprehensive product portfolio of PureFive™ resin grades that can be used in a wide variety of applications.”

Operations Update

The Company produced a record amount of PureFive™ resin during the third quarter, including a monthly record of 3.3 million pounds in September. PureCycle plans to ramp feedstock processing and Ironton production through the end of the year.

PureCycle expects to complete the installation of the previously announced Ironton compounding operations by the end of the year. This project will enable the production of approximately 100 million annual pounds of single-pellet solutions for customers. In-house compounding should also reduce production costs, simplify supply chain operations and increase the overall volume available from Ironton.

Commercial Update

PureCycle finalized the development of the PureFive™ product portfolio for the commercialization of the Ironton Facility. PureCycle can now provide drop-in solutions for food-grade flexible film, thermoforming, injection molding and textile applications.

PureCycle continues to progress, build and convert the sales pipeline with many of the top converters and brand owners, including Fortune 100 companies. Since developing resin grades that can be used in cups and coffee lids, PureCycle has seen increased interest from global quick service restaurants (QSR). The Company expects to begin shipping PureFive™ resin for a top five global QSR in the fourth quarter of 2025.

Progress continues with The Procter & Gamble Company (P&G) on a variety of applications. This includes the caps for small 10-ounce detergent bottles that have passed all tests for processability and properties. Fourth quarter shipments are planned to P&G’s converter for production of the caps, and they are expected to appear on store shelves in early 2026.

Expansion Update

Since announcing the Thailand project earlier this year, key feedstock Letters of Intent have been signed targeting more than 100 million pounds annually. The project team continues to move the Thailand expansion forward for a mechanical completion in 2027.

The final engineering of the Company’s first Gen-2 purification design is expected to be finished in the first half of 2026. PureCycle still expects its annual capacity to fall between 300 million and 500 million pounds.

Financial Update

During the third quarter of 2025, PureCycle grew recognized revenue to approximately $2.4 million.

In Europe, PureCycle’s application for a €40 million grant from the Innovation Fund has been accepted by the European Union’s Climate, Infrastructure and Environment Executive Agency (CINEA). PureCycle’s process will now advance to the grant agreement negotiation phase. Permitting for the project is on track and construction is expected to begin shortly after permits are approved.

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PureCycle Contact

Christian Bruey

cbruey@purecycle.com

Investor Relations Contact

Eric DeNatale

edenatale@purecycle.com

About PureCycle Technologies

PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented dissolution recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as #5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from #5 plastic waste resulting in our PureFive™ resin that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com

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 future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally relate to future events or PureCycle’s future financial or operating performance and may refer to projections and forecasts. Forward-looking statements are oft

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PURECYCLE TECHNOLOGIES SECOND QUARTER 2025 CORPORATE UPDATE

Orlando, Fla. – August 7, 2025 – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, announced today a corporate update for the second quarter ending June 30, 2025.

Management Commentary

PureCycle CEO Dustin Olson commented, “We have begun to implement our growth plans following our successful $300 million capital raise that was executed in June. Our first expansion steps will be with facilities in Thailand and Belgium. Future facilities, beyond the initial lines in Thailand and Belgium, are expected to house a Gen 2 Purification design with a planned capacity of more than 300 million pounds per year. All these projects are currently expected to be online by 2030 and would give us an installed capacity of one billion pounds across the United States, Europe and Asia.”

Olson continued, “On the commercial front, we continue to make progress with trials in the packaging, film and textile spaces for both food and non-food applications. Our team is now in negotiations with several companies and working through the process to bring these opportunities to commercialization. We continue to see interest in our PureFive™ resin and are still confident we will achieve increased sales in the second half of 2025 that should position us well for 2026.”

Commercial Update

PureCycle’s compounding and trial successes continued during the second quarter of 2025. Through the Company’s various customer interactions, PureCycle is developing a wide-ranging portfolio of PureFive Choice™ resin grades. This includes one-pellet solutions for food-grade film, injection molded and thermoformed applications.

PureCycle has delivered these PureFive Choice™ resin grades to various converters for trials. The resin has been successfully molded into storage totes, coffee lids, dairy containers, pens and a variety of other polypropylene packaging applications. PureCycle is now in post-trial negotiations for more than 15 applications with numerous converters or brand owners.

The Company previously announced a partnership with Emerald Carpets to drive circularity in the trade show industry. Emerald signed its commercial supply agreement for approximately 5 million pounds of PureFive™ resin over the next 12 months. The PureFive Choice™ resin will be blended into Emerald Carpets’ existing fiber production and allow for trade shows around the world to use carpets made with recycled content.

PureCycle also made progress on the use of PureFive™ resin in biaxially-oriented polypropylene (BOPP) film. The PureFive Choice™ resin grade for film passed an industrial trial for a leading provider of tapes and films. Work has also continued with Germany-based Brückner Maschinenbau GmbH, the world’s leading supplier of production lines for manufacturing a wide range of stretched films. A larger-scale trial with Brückner is

scheduled for later this month and, if successful, should provide PureCycle with thousands of meters worth of samples to share with brand owners. BOPP film has a wide range of end-use applications, including food packaging for snacks, candy and baked goods.

PureCycle has continued to advance through the extensive qualification process with Procter & Gamble (P&G) for a variety of applications. Scaled production tests of the spout and dose caps for select bottles of P&G products are scheduled for September. Products with PureFive™ resin are planned to be in production by the end of 2025 and in stores in early 2026.

Operations Update

PureCycle produced 3.4 million pounds of resin in the second quarter of 2025. The Company took a short, planned outage in early June to update and improve certain areas of the Ironton Facility. The plant returned to operations on June 9, and the facility has been running consistently since then. PureCycle continues to assess the upper limits of the Ironton Facility and successfully completed a rate test at 14,000 pounds per hour on August 1.

To meet expected demand and better streamline its processes, PureCycle will add compounding operations to the Ironton, Ohio purification facility. The Company has begun efforts to install a new twin-screw extruder with multiple feeders to bring approximately 100 million pounds of annual compounding capacity to the site. This will enable the blending of specific resins for key customer applications, including film, thermoforming and thin-wall injection molding applications. The move is expected to eliminate approximately $4 million of annualized third-party costs currently associated with producing the Company’s PureFive Choice™ resin. It should also further reduce the carbon footprint of PureCycle’s overall supply chain. The integration of compounding to the Ironton Facility should be completed late in the fourth quarter of this year.

PureCycle Financial Update

During the second quarter of 2025, PureCycle recognized

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PURECYCLE TECHNOLOGIES FIRST QUARTER 2025 CORPORATE UPDATE

Orlando, Fla. – May 7, 2025 – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, announced today a corporate update for the first quarter ending March 31, 2025.

Management Commentary

PureCycle CEO Dustin Olson commented, “The first quarter was a significant milestone for PureCycle, as we generated the first reported revenues in the Company’s history. We continued to make progress on both the commercial and operational fronts and have increased confidence in the commercial and operational ramp-up. The interest in our PureFive™ resin remains high across many different industries. We are in the midst of more than 30 trials and the early results from these and many other trials are promising. I believe that this will lead to meaningful sales volume later in 2025.”

Olson continued, “The operations at Ironton also continued to improve since the last update. Monthly pellet production reached the highest level ever during Q1 and onstream time improved to nearly 90% in April. This included the production of PureFive™ resin on every single day in April. While the feed rates and pellet production varied throughout the month, the onstream time is a tremendous achievement by our team in Ironton.”

Commercial Update

PureCycle’s compounding and trial successes continued during the first quarter of 2025. PureCycle made progress on the use of PureFive™ resin in biaxially oriented polypropylene (BOPP) film trials. The latest trials and tests were conducted by Germany-based Brückner Maschinenbau GmbH, the world market leader for large production lines for the manufacturing of a wide variety of flexible plastic. Film is a substantial opportunity for PureCycle, with the global demand for BOPP film representing approximately 30 billion pounds per year.

Brückner CSO Markus Gschwandtner said, “We have extensively studied recycled polypropylene over the past five years, and through the initial tests, PureCycle’s PureFive Choice™ resin has performed better than anything we’ve seen before. We believe this could be the breakthrough the industry needs to close the loop on BOPP film.”

The positive Brückner trials were conducted with blends that ranged from 15% to 50% of PureFive Choice™ resin. This was the first in a series of tests and we believe the positive results in these trials will set the Company up well for commercial success with customers later this year.

PureCycle has continued to advance through the extensive qualification process with The Procter & Gamble Company. Initial customer qualifications are progressing and both sides continue to look for additional applications where PureFive™ resin could serve as a virgin polypropylene replacement.

PureCycle’s first commercial sale to Drake Extrusion Inc. has been followed by successful trials at two other textile companies in both staple fiber and fully drawn yarn (FDY). The FDY was successfully produced and developed using a single-pellet solution from PureCycle made with 50% recycled content. Fully drawn yarn is used in the making of high-strength textiles and fabrics for sportswear, automotive, outdoor and other technical textiles. The Company continues to engage in numerous fiber trials and expects the commercial ramp to accelerate during the year.

PureCycle has also added an additional PureFive™ brand through the Company’s compounding strategy. PureCycle will now offer PureFive Choice™ in addition to PureFive Ultra™ for customers needing specific mechanical or visual properties from their recycled content. PureCycle has successfully made compounds for film, fiber, thermoformed and injection-molded applications and recently introduced those grades in a bright white.

Operations Update

The Company continues to see quarter-over-quarter improvements in production volume, uptime reliability, and product quality due to the ongoing learnings and resulting modifications at the Ironton Facility. The Company will continue to pace production levels to match sales resulting from successful trials.

At the same time, PureCycle continues to improve reliability, reaching a new high of nearly 90% onstream time in April. PureCycle’s dissolution process continues to produce a quality recyclate that the Company believes differentiates it from mechanically recycled resin. The PureFive™ resin produced over the first quarter of 2025, shows a consistent melt flow, mechanical properties, polyethylene and ash content, which should allow for processability across a wide range of applications.

PureCycle Financial Update

During the first quarter of 2025, PureCycle recognized revenue of approximately $1.6 million. This was the first reported revenue in the Company’s history.

In March and April 2025, PureCycle sold a total of $30.4 million of certain Southern Ohio Port Authority Exempt Facility Revenue Bonds (PureCycle Project), Tax-Exempt S

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PURECYCLE TECHNOLOGIES FOURTH QUARTER AND FISCAL YEAR ENDING 2024 UPDATE

Orlando, Fla. – February 27, 2025 – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced a corporate update for the fourth quarter and fiscal year ending December 31, 2024.

Management Commentary

PureCycle CEO Dustin Olson commented, “The fourth quarter was one of significant progress for the Company. With ongoing improvements in Ironton, the Denver, PA sorting facility coming online and the additional inventory produced through compounding, we have established a path to commercialization. The interest in our PureFive™ resin remains high across many different industries. We are in the midst of more than 20 trials, that include two of the largest consumer packaged goods companies in the world and one of the largest packaging converters in the country. The early results from these and many other trials are promising, which I believe will lead to meaningful sales volume in 2025.”

Olson continued, “There are a couple of areas that highlight our increased confidence in the path to nameplate capacity at our Ironton Facility. We improved our maximum feed rate and reliability in recent months. Our onstream time was nearly 70% in December, a new high, and we hit a max feed rate of 12,500 pounds per hour in February.”

Commercial Update

PureCycle’s compounding and trial successes during the second half of 2024 led to progress in the commercial sector. Following that, PureCycle built inventory for the various market segments.

The first major sale to Drake Extrusion Inc. marks a turning point for PureCycle and represents a substantial growth opportunity. The Company’s R&D team developed a compound that performs similarly to Drake’s existing virgin polypropylene for continuous filament yarns, which can be utilized in items such as apparel, upholstery, and rugs. More recently, PureCycle produced a compound for trials on Drake’s staple fiber extrusion equipment. Staple fiber is used in carpeting, automotive, and a variety of non-woven applications. These two valuable opportunities highlight the quality of PureFive™ resin. The success with Drake has also led to an acceleration of trials and commercial discussions with other companies in the fiber industry.

PureCycle’s product quality played a crucial role in the recent announcement of Churchill Container’s “Run It Back” line of cups and popcorn buckets, made with up to 100% PureFive™ resin. The product trials were successful and required only minimal adjustments to the injection molding equipment. This presents a significant opportunity as sports teams, both professional and collegiate, become aware of this circular and sustainable option for concession items at stadiums and arenas across the country. More than ten teams have expressed interest in Churchill’s “Run It Back” line of cups since the announcement in early-February.

Advancements have also been made with PureCycle’s partners at The Procter & Gamble Company (P&G). Compounds have been developed with PureFive™ resin for applications with Old Spice®, Febreze®, Tide®, Cascade®, and Metamucil®. Industrial molding trials are scheduled for these initial applications in the coming months, with additional applications targeted for trials later in the year. Final qualification for the initial applications is expected in Q2 and first application production is expected to occur in Q2 or Q3 of 2025.

The automotive industry represents a large opportunity for PureCycle. Polypropylene is the most widely used plastic in automotive applications, with an average of around 100 pounds per passenger car. PureCycle has worked with a leading provider of polypropylene compounds to produce a material that was successfully molded into a bumper facia for one of the largest global automotive manufacturers. All the polypropylene in the compound was PureFive™ resin.

Operations Update

The Company continues to see quarter-over-quarter improvements in production volume, reliability, and product quality due to the ongoing learnings and subsequent modifications at the Ironton Facility. The Company will continue to pace production levels to match sales resulting from successful trials.

At the same time, PureCycle continues to test the upper limits of the Ironton Facility to further understand the impacts to reliability and quality. The Company recently hit a new high on feed rates, exceeding 12,500 pounds per hour. Reliability is also improving. The Ironton Facility was onstream for 67% of December, a new high. PureCycle’s dissolution process continues to produce a quality recyclate that differentiates it from mechanically recycled resin. The PureFive™ resin produced over the fourth quarter 2024, shows a consistent melt flow and mechanical properties, which allows for processability across a wide range of applications.

The sorting facility in Denver, PA continue

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PURECYCLE PROVIDES THIRD QUARTER 2024 UPDATE

Orlando, Fla. – November 7, 2024 – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced a corporate update for the third quarter ending September 30, 2024.

Management Commentary

PureCycle CEO Dustin Olson commented, “The third quarter represented meaningful progress for the Company on multiple fronts. The Company has significantly improved our rates, reliability, and product quality at Ironton. While there is still more work to be done, we are confident in continuing to move the Ironton Facility forward and pursuing nameplate capacity targets in the future. These achievements are allowing the Company to turn its focus toward the next phase of PureCycle’s growth by ramping-up our commercialization efforts.” Olson continued, “With positive customer feedback and initial success in commercial trials, Q3 was a pivotal time for the team. We are seeing strong interest in our product by leading companies from several market channels and plan to increase production to meet those needs. The Company believes this should lead to meaningful sales going into 2025.”

Ironton Facility Update

As previously announced, the Ironton Facility hit three key production milestones before the end of the third quarter, including one million pounds of feedstock processed in a week; 200,000 pounds of feedstock processed in a day; and feed rates of more than 10,000 pounds per hour. Each of these targets was set with a focus on proving out specific elements of the plant. With the facility having shown greater reliability and uptime, the Company can focus on ramping toward nameplate capacity and improving product quality.

The equipment updates to the co-product 2 (CP2) removal system have been commissioned and are working as designed. In addition to the CP2 removal improvements, the Company advanced its sorting strategy in mid-October by commissioning a new 325,000 square foot facility located in Denver, Pennsylvania. The facility sorts mixed plastic bales using optical and robotic sorting technologies. With these technologies, the facility has been able to improve the polypropylene concentration of the mixed bales from ~60-80% to ~90-95%. The higher concentration of polypropylene combined with the improved CP2 removal system has led to greater output and improved quality at the Ironton Facility.

Commercial Update

The market continues to lack high quality recycled material and PureCycle offers an answer for companies looking to achieve their sustainability goals. Initial feedback from customers in the qualification process has been very positive and the Company is working to convert these trials into orders in the near future. The Company has produced and built meaningful inventory to meet near term expected demand and give customers confidence Ironton will be able to ramp-up to meet their needs.

The increased production volume at the Ironton Facility and expanded efforts with compounding allowed the Company to introduce samples to new markets and further trials with potential customers. PureCycle recently provided The Procter & Gamble Company (P&G) with compounded material. This will allow P&G to begin the approval process for the recycled resin in various applications. PureCycle plans to provide material to P&G for production beginning in Q2 or Q3 of 2025.

The Company completed multiple trials with customers in the fiber market, which has been an underserved area when it comes to recycled polypropylene. These trials were conducted with some of the largest fiber manufacturers in the country and built upon earlier smaller-scale successful trials. PureCycle worked with the manufacturers to produce continuous filament and staple fibers with varying product properties that should allow for the introduction into applications such as carpet, clothing, upholstery, and automotive.

The Company also progressed the approval process with one of the largest global automotive manufacturers for both interior and exterior applications. The first application would include PureCycle resin from 100% recycled feedstock.

PureCycle Financial Update

On August 7, 2024 the Company sold approximately $22.5 million in aggregate par amount of its Series A Southern Ohio Port Authority Revenue Bonds to certain investors. The Company received $18 million in gross proceeds.

In September, PureCycle entered into a series of transactions with Sylebra Capital Management and Samlyn Capital, LLC and raised gross proceeds of $90 million. The capital raised should allow the Company to continue with its investments to facilitate future growth. At the end of the recent third quarter, the Company had an unrestricted and restricted cash balance of $93.7 million.

###

PureCycle Contact

Christian Bruey

cbruey@purecycle.com

+1 (352) 745-6120

About PureCycle Technologies

PureCycle Technologies LLC., a subsidiary of P

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Exhibit 99.1

PURECYCLE PROVIDES SECOND QUARTER 2024 UPDATE

Ironton, Ohio – August 8, 2024 – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced a corporate update for the second quarter ending June 30, 2024.

Management Commentary

PureCycle CEO Dustin Olson said, “Our team made foundational progress in the second quarter, in terms of production, improving our reliability, and with higher levels of co-product 2 or CP2. All of this has provided a further understanding of how the plant behaves at higher rates. The many improvements made at the Ironton Facility during the planned outage in April resulted in our highest production month in June. We understand there is more work to be done, but we have taken significant steps forward.” Olson added, “On the commercial front, I’m excited about the work we’ve done with compounding. This approach should allow us to make a one-pellet-solution that customers need for their specific application. We have received the first orders for our compounded PureFive™ material.”

Ironton Facility Update

A significant portion of the second quarter was spent making improvements to the Ironton Facility. The upgrades led to greater reliability during the production runs from late-May through June with feedstocks low in CP2. During that time, the Ironton Facility had multiple days with more than 100,000 pounds of pellets produced. When the Company transitioned to a feedstock with higher levels of CP2 in late-June and July, the rates were limited principally by reliability issues and the CP2 recovery and handling system.

The upgrades to the front end of the CP2 removal system made in April are working as designed. The material removed from the system is now consistent in form and density. The current primary limiting factor is reducing the size of the end-product, so it can be removed through an automated process. The Company has begun implementing adjustments to the recovery and handling system and believes once this limitation is removed, production rates should improve throughout the rest of the year.

In the meantime, the Company is continuing to pursue higher throughput by purchasing feedstock low in CP2 and sorting feedstocks for higher quality material. The Company has already installed one optical flake-sorting line that helps to reduce the CP2 in the feed. PureCycle expects to have an additional, larger flake-sorting line installed by the end of September. The combined output for the two lines is expected to be more than four million pounds per month.

PureCycle Commercial Update

The production during the second quarter has provided PureCycle’s commercial team with the opportunity to introduce the Company’s recycled resin to more markets. One avenue that should provide greater flexibility is through compounding. By blending the PureCycle resin with post-industrial recycled material or virgin polypropylene, compounded material provides a more consistent product, should simplify the customer approval process, and is expected to increase the ability to bring higher levels of recycled product to the market.

PureCycle is working with several partners that specialize in the development and production of recyclate-based polymers with similar performance properties and consistency to virgin resin. PureCycle will be offering multiple PureFive grades to customers that include a blend of PureCycle resin and varying levels of post-industrial recycled material or virgin polypropylene.

PureCycle Financials Update

PureCycle ended the second quarter of fiscal 2024 with approximately $10.9 million of unrestricted cash. On August 7, PureCycle reached an agreement on the sale of $22.5 million notional amount of its Southern Ohio Port Authority Revenue Bonds that will provide cash proceeds of $18.0 million.

###

PureCycle Contact

Christian Bruey

cbruey@purecycle.com

+1 (352) 745-6120

About PureCycle Technologies

PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com

Forward-Looking Statements

This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looki

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Exhibit 99.1

PureCycle Technologies Provides First Quarter 2024 Update

Orlando, Fla. – May 7, 2024, – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced a corporate update for the first quarter ending March 31, 2024.

Management Commentary

PureCycle Chief Executive Officer Dustin Olson said, “We had a productive quarter in Ironton and were able to start providing existing and future customers with resin from the commercial facility, so they could begin to sample the material. The production activities in the first quarter also allowed our team to further understand this first-of-its-kind technology and how our purification technology processes various post-consumer feedstocks. The information we gathered was integral to the work completed during the operational pause in April and should help lay the groundwork for continued improvements throughout the rest of 2024.”

Ironton Facility Update

The month of April was spent making improvements to the Ironton Facility. The Company completed several projects that should help to improve the reliability of the Ironton Facility and drive more consistent product quality. These projects included process improvements to both co-product 1 and co-product 2 recovery and removal systems, as well as reliability improvements to seals, pumping systems, and various digital items. The Company extended the planned outage by one week to complete additional projects and plan to begin restarting operations later this week.

PureCycle Financials Update

The Company reported a net loss of $85.6 million, or $0.52 per diluted share of common stock, for the first quarter of 2024, compared to a net loss of $25.8 million, or $0.16 per diluted share, for the first quarter of 2023. The recent first quarter included a loss of $21.2 million, or $0.13 per diluted share, from the purchase of its outstanding Southern Ohio Port Authority Revenue Bonds as announced in March; a $9.1 million non-cash loss, or about $0.06 per diluted share versus prior year, from the change in fair value of its warrants; and $8.0 million or $0.05 per diluted share versus prior year, from higher depreciation expense as a result of the commissioning of the Ironton assets.

The Company reached an agreement for the sale of $37.5 million of Series A Revenue Bonds to Pure Plastics LLC at a price of $800 per $1,000 of face value. As part of the terms of the sale, the Company will also exchange its Pure Plastics Term Loan, with an amount outstanding of $45.5 million, for Series A, B, and C Revenue Bonds. In aggregate, the Company will sell $94.3 million of Series A, B, and C Bonds as part of this transaction. The transaction will close in three tranches, each subject to the achievement of certain conditions, and is expected to be completed in a little over a month.

The early termination of the Pure Plastics Term Loan will also result in a pre-payment premium as required under the Pure Plastic Term Loan. Both parties agreed to the issuance of approximately three million warrants in lieu of a cash payment.

Conference Call

The Company will hold a conference call on Tuesday, May 7 at 10:00 a.m. EST to provide an update on recent corporate developments, including activity from the first quarter.

First Quarter 2024 Conference Call Details

Date: Tuesday, May 7, 2024

Time: 10:00 a.m. EST

Participant Link: PureCycle Technologies First Quarter 2024 Corporate Update

For participants interested in a listen-only webcast, please access the conference call using the above link. For a calendar reminder, please click HERE.

The conference call will have a live Q&A session. For analyst participants who would like to ask management a question after prepared remarks, please click HERE. You will receive a number and a unique access pin.

During prepared remarks, management will try to answer investor questions submitted in advance. To submit a question, please send an e-mail to investorquestion@purecycle.com.

The corporate update will be available for replay by clicking HERE or through the Company’s website at www.purecycle.com. A replay of the conference call will be available after 3:00 p.m. Eastern Time until May 6, 2025.

###

PureCycle Contact

Christian Bruey

cbruey@purecycle.com

+1 (352) 745-6120

About PureCycle Technologies

PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.co

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Exhibit 99.1

PureCycle Technologies Fourth Quarter and Fiscal Year Ending 2023 Update

Orlando, Fla. – March 5, 2024, – PureCycle Technologies, Inc. (Nasdaq: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced a corporate update for the fourth quarter and fiscal year ending December 31, 2023.

Management Commentary

PureCycle Chief Executive Officer Dustin Olson said, “Our team made several improvements to the Ironton purification facility in the fourth quarter, which allowed us to make good progress towards continuously running the Ironton Facility at expected capacity rates. We continue to work through some limitations, such as the rate of displacement of co-product two from the system. Corrective engineering designs have been completed for an upgrade to the co-product area and work has already begun on the installation. I am proud of what the Ironton team has accomplished to date, and I am excited about our opportunities in 2024.”

Olson added, “In early March, the Company purchased approximately 99% of its $249.5 million revenue bonds that were issued to fund construction of the Ironton Facility. The purchase of the revenue bonds removed substantially all restrictive covenants and events of default and should lead us to an improved capital structure with greater operational flexibility.”

Ironton Facility Update

A majority of the fourth quarter was spent making improvements to the Ironton Facility, including the installation of an automatic screen changer on the final product extruder. Downtime in the fourth quarter plus a planned outage in November limited the total pellet production to approximately 200,000 pounds in the quarter. The improvements made during the outage have led to increases in production levels. The Company produced more than one million pounds of pellets in the first two months of 2024. The Company believes that it continues to make good progress towards sustained commercial operations.

Ironton Bond Purchase

As previously disclosed, the Company purchased $246.7 million of its $249.5 million Southern Ohio Port Authority revenue bonds, which included approximately 99% of the Series A issues, and 100% of each of the Series B and C issues. The purchase, which was completed on March 5, 2024, eliminated substantially all restrictive covenants and events of default.

Conference Call

The Company will hold a conference call on Wednesday, March 6 at 11:00 a.m. EST to provide an update on recent corporate developments, including activity from the fourth quarter.

Fourth Quarter 2023 Conference Call Details

Date: Wednesday, March 6, 2024

Time: 11:00 a.m. EST

Participant Link: PureCycle Technologies Fourth Quarter 2023 Update Call

For participants interested in a listen-only webcast, please access the conference call using the above link. For a calendar reminder, please click HERE.

The conference call will have a live Q&A session. For analyst participants who would like to ask management a question after prepared remarks, please click HERE. You will receive a number and a unique access pin.

During prepared remarks, management will try to answer investor questions submitted in advance. To submit a question, please send an e-mail to investorquestion@purecycle.com.

The corporate update will be available for replay by clicking HERE or through the Company’s website at www.purecycle.com. A replay of the conference call will be available after 3:00 p.m. EST until February 28, 2025.

###

PureCycle Contact

Christian Bruey

cbruey@purecycle.com

+1 (352) 745-6120

About PureCycle Technologies

PureCycle Technologies LLC., a subsidiary of PureCycle Technologies, Inc., holds a global license for the only patented solvent-driven purification recycling technology, developed by The Procter & Gamble Company (P&G), that is designed to transform polypropylene plastic waste (designated as No. 5 plastic) into a continuously renewable resource. The unique purification process removes color, odor, and other impurities from No. 5 plastic waste resulting in an ultra-pure recycled (UPR) plastic that can be recycled and reused multiple times, changing our relationship with plastic. www.purecycle.com

Forward-Looking Statements

This press release contains forward-looking statements, including statements about the financial condition, results of operations, earnings outlook and prospects of PCT. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements generally relate to future events or PureCycle’s future financial or operating performance and may refer to projections and forecasts. Forward-looking statements are often identified by future or conditional words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “p

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Exhibit 99.1

PureCycle Technologies Provides Third Quarter 2023 Update

-Processed 409k lbs of feed through purification and sent first commercial shipments of Ultra-Pure Recycled (“UPR”) resin for Formerra and Milliken.

-Ironton operations continue to improve daily with onstream performance increasing across core process operation; key challenge has been to maintain pelletization due to a mechanical leak that will be permanently repaired in November.

-Raised $250 million gross proceeds through the issuance of 7.25% Green Convertible Senior Notes due 2030

-Negotiated an agreement in principle for a Limited Waiver and Second Supplemental Indenture with Ironton Bondholders to extend remaining milestone completion dates by three months in exchange for $50 million in cash collateral.

(ORLANDO, Florida – November 7, 2023) – PureCycle Technologies, Inc. (“PureCycle” or “the Company”) (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced a corporate update for the third quarter ending September 30, 2023.

Management Commentary

Dustin Olson, PureCycle’s Chief Executive Officer, said, “Ironton is the first facility of its kind and as expected, we are working through many challenges in getting the facility to run on a continuous basis. We continue to remove constraints, solve problems, and improve operational efficiency. Most of the challenges we have faced since we first produced pellets in June have been mechanical in nature and part of the operational learning curve. We have identified a set of reliability and operational improvements that are expected to be addressed during a 2-week outage in November, including the installation of an automatic screen changer on the final product extruder, which has impacted continuous run times.

These last few months have tested us, but the PureCycle team continues to improve its understanding of this technology. We’ve overcome significant issues, identified many lessons learned, and incorporated these changes into the November outage. We are now focused on completing the outage, restarting the plant, and making Ironton a long-term success.”

Larry Somma, PureCycle’s Chief Financial Officer, added, “We successfully closed $218.5 million of net proceeds from the placement of our Green Senior Convertible Notes in the third quarter. We are grateful to our investors that have placed their trust in us. These proceeds will enable the Company to continue its equity investment in the Augusta project until we are able to close on project financing. We have spent a great deal of time evaluating the project finance landscape and believe that consistent operations in Ironton are important to our fundraising success and look forward to being able to progress our project financing process.”

Ironton Update

During the third quarter, our efforts were focused on completing the third bondholder milestone of producing 4.45 million pounds of UPR resin during a 30-day period by September 30th. Due, in part, to a power outage in August that we subsequently learned damaged a seal, as well as additional mechanical issues that were identified after the seal repair, the Company was unable to complete the third milestone in a timely manner.

Following the Company’s inability to complete the September 30, 2023 milestone, the Company and the Bondholders agreed in principle to a Limited Waiver and Second Supplemental Indenture that provides a three-month delay for the remaining milestone dates and transfers additional funds for specified purposes. The Limited Waiver is expected to be executed this week.

Management remains committed to achieving PureCycle’s next bondholder milestone of producing 4.45 million pounds of UPR resin in a month by December 31, 2023. We currently have more than 15.1 million pounds of feedstock available for Ironton operations.

Liquidity and Capital Resources

As of September 30, 2023, PureCycle had total liquidity of $396.1 million, including $211.3 million of unrestricted liquidity, and $184.8 million in restricted cash. PureCycle also has access to a $150 million undrawn revolving line of credit. PureCycle had $506.3 million in Long-term debt and Related party notes payable, including $49.8 million of discount and issuance costs at quarter-end. As previously referenced, the Company raised $250 million in gross proceeds through the private placement of 7.25% Green Convertible Senior Notes due 2030 that closed on August 24, 2023.

Conference Call

The Company will hold a conference call Wednesday, November 8th at 11:00 a.m. EST to provide an update on recent corporate developments, including activity from the third quarter and updated future strategic plans.

Third Quarter 2023 Conference Call Details

Date:                 Wednesday, November 8, 2023

Time:                 11:00 a.m. EST

Participant Registration:    CLICK HERE

Please register for the conference call using the a

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Exhibit 99.1

PureCycle Technologies Provides Second Quarter 2023 Update

- Achieved first two bondholder milestones - mechanical completion and PIR pellet production

-Successfully tested and validated core technologies of the PureCycle purification process at scale

-Closed on the land rights with the Development Authority of Augusta, GA for up to eight purification lines. We expect to begin site construction activities on the first line in the fourth quarter of 2023.

-Extended $150 million revolving line of credit through March 31, 2025

(ORLANDO, Florida – August 8, 2023) – PureCycle Technologies, Inc. (“PureCycle” or “the Company”) (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today, announced a corporate update and financial results for the second quarter ending June 30, 2023.

Management Commentary

Dustin Olson, PureCycle’s Chief Executive Officer, said, “After successfully producing polypropylene resin pellets from post-industrial feedstock at our flagship purification facility in Ironton, Ohio (“Ironton”), we initiated a series of activities to evaluate, adjust, and in some cases, replace or repair certain equipment in the purification process subsystems. We recently initiated a re-start of Ironton, and the facility is operational. After achieving the first two bondholder milestones in the second quarter, we expect to achieve our next milestone of operating at 50% capacity for a month by the end of September.

The commissioning of Ironton is progressing well due to the dedication, focus, and grit of the local team. We have the experience and technical expertise to identify and resolve challenges during startup. We remain dedicated to completing the next steps in the commissioning process in a methodical, purposeful, and focused manner.”

Larry Somma, PureCycle’s Chief Financial Officer, added, “As we prepare for our first shipment to customers, PureCycle will begin the transition from a pre-revenue company to a revenue-generating company. We anticipate operating margins to be in line with 2023 budgeted expectations. Equally important, now that Ironton is operational, we can restart the process of raising long-term project financing for construction of our next purification facility in Augusta, Georgia. We are actively evaluating equipment financing term sheets of our PreP equipment until we are able to close on the longer term project financing transaction. We are also appreciative of Sylebra Capital for extending our $150 million line of credit until March 31, 2025.”

Ironton Update

After initial pellet production in June, we focused on commissioning operations to improve the processes and core technologies in preparation of full capacity operations. Now that we are operational, the next step in the start-up process is increasing capacity gradually while scaling up feedstock deliveries and offtake shipments. Management remains committed to achieving PureCycle’s next bondholder milestone of producing 4.45 million pounds of UPR resin in a month by September 30, 2023. We currently have more than 10 million pounds of feedstock available for Ironton operations.

Expansion Update

PureCycle continued to make progress on its various development projects since its last update. The Company closed on the Augusta Bonds with the Development Authority of Augusta, Georgia (“AEDA”) and is in the final stage of the selection process for an EPC partner for the Augusta site. PureCycle is targeting site development and construction activities to begin in the fourth quarter of 2023.

Updates on our three international development projects include: (i) the PureCycle team in Belgium has continued site engineering work at the Port of Antwerp to support the permitting process, which is expected to be completed by late 2024; (ii) our joint venture team in South Korea progressed engineering plans and is evaluating various feed sources in accordance with the priorities defined by the joint venture; and (iii) we continued to advance our joint venture agreement discussions with Mitsui, which is expected to be executed in the fourth quarter of 2023. The teams continue to narrow down the list of purification plant locations in Japan.

Liquidity and Capital Resources

As of June 30, 2023, PureCycle had total liquidity of $366.3 million including $28.9 million of cash and cash equivalents, $187.4 million in restricted cash and $150 million of undrawn revolving credit. PureCycle also had $309.7 million in Long-term debt and Related party notes payable, less $19.5 million of discount and issuance costs at quarter-end.

As of June 30, 2023, PureCycle estimated that there was $10.0 -$22.5 million remaining investment in 2023 to complete the Ironton facility inclusive of a performance guarantee payment due after successful completion of a performance testing milestone. This range is dependent upon various contract contingencies and their ultimate

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Exhibit 99.1

PureCycle Technologies Provides First Quarter 2023 Update

-PureCycle’s flagship purification facility in Ironton, Ohio, (“Ironton”) is mechanically complete, pre-startup process safety management (“PSM”) processes required for solvent delivery is complete, all core operating systems have been commissioned and are ready for startup, and solvent is arriving on site.

-Secured $62 million of debt financing and evaluating additional proposals to incrementally fund the Augusta project and to further strengthen the Company’s balance sheet.

-Submitted plan of finance to the Development Authority of Augusta, GA (“AEDA”) for one purification line. We are working towards the goal of closing on the land rights (“Augusta Bonds”) by June 30, 2023.

(ORLANDO, Florida – May 9, 2023) – PureCycle Technologies, Inc. (“PureCycle” or “the Company”) (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today announced a corporate update and financial results for the first quarter ending March 31, 2023.

Management Commentary

Dustin Olson, PureCycle’s Chief Executive Officer, said, “Our flagship facility in Ironton is days away from beginning the start-up phase of commercial pellet production of ultra-pure recycled (“UPR”) resin. As part of our mission to create an ‘infinitely sustainable planet,’ we are focused on the health and safety of PureCycle team members and the communities in which we operate. With that in mind, we are excited to begin safely ramping up commercial operations and the production of UPR resin in our state-of-the-art purification facility in Ironton.”

Larry Somma, PureCycle’s Chief Financial Officer, added, “We continue to execute on our goal of maintaining financial flexibility and optionality prior to Ironton being operational by securing $62 million of additional debt financing since our last update, further strengthening our balance sheet. We submitted a plan of finance to the AEDA and are working toward closing the Augusta Bonds by the end of June. Our strategy remains to obtain long-term project financing once Ironton is operational. We believe that having capital that can “bridge” the Augusta project until Ironton is operational will allow the Company to access a longer-term, lower-cost source of funds.”

Ironton Update

The Company’s flagship purification facility in Ironton is certified mechanically complete, has completed the pre-startup PSM certification required for solvent deliveries and all core operating systems have been commissioned and are ready for startup. The first solvent delivery was received, and the Company expects to start producing pellets from virgin resin feedstock in the next few weeks. We will then plan to introduce post-industrial and post-consumer feedstock into the purification process and begin producing UPR resin pellets for sale and distribution to customers.

PureCycle’s ramp-up strategy is to gradually increase plant capacity utilization while scaling in higher volumes of feedstock deliveries and customer offtake shipments. Management remains confident that PureCycle will achieve the operational milestones as set out in the bondholder limited waiver agreement executed in March in a timely manner.

Expansion Update

PureCycle continued to make progress on its various development projects since its last update. Site engineering work is progressing for the Company’s Augusta location and module preparation for construction has commenced in Beaumont, Texas.

Updates on our three international development projects include: (i) the PureCycle team in Belgium has initiated site engineering work at the Port of Antwerp to start the permitting process; (ii) our joint venture team in South Korea continued to progress on engineering plans in accordance with the priorities defined by the joint venture; and (iii) we continued our JVA discussions with Mitsui, while the joint venture team has started the feasibility study process on potential purification plant locations in Japan.

Liquidity and Capital Resources

As of March 31, 2023, PureCycle had total liquidity of $263.9 million including $38.4 million of cash and cash equivalents and $225.5 million in restricted cash. PureCycle also had $249.6 million in debt, less $15.8 million of discount and issuance costs. As of March 31, 2023, PureCycle estimated between $26-$51 million remaining investment in 2023 to complete the Ironton project, of which $25.2 million is included in restricted cash and can be used to fund the remaining investment. This puts the higher end of the project investment at approximately $361 million. This range is dependent upon various contract contingencies and their ultimate resolution. PureCycle expects to successfully negotiate at least some of these contingencies, which would reduce the remaining 2023 investment to the lower end of the range.

Subsequent to quarter end, PureCycle closed on an equipment financing

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Exhibit 99.1

PureCycle Technologies Provides Fourth Quarter 2022 Update

-PureCycle’s flagship purification facility in Ironton, Ohio, (“Ironton”) is nearly mechanically complete with the final systems expected to be complete in April.

- PureCycle executed a mutually agreeable limited waiver with the Ironton Bondholders to extend completion milestones with transfer of funds to specific accounts for project closure and operations.

-Secured a line of credit representing $150 million of borrowing capacity to be available for general working capital purposes.

-Selected its first European polypropylene (“PP”) recycling facility location at the Port of Antwerp-Bruges in Belgium.

(ORLANDO, Florida – March 15, 2023) – PureCycle Technologies, Inc. (“PureCycle” or “the Company”) (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today announced a corporate update and financial results for the fourth quarter ending December 31, 2022.

Management Commentary

Dustin Olson, PureCycle’s Chief Executive Officer, said, “I could not be more proud of our PureCycle team as the Company’s flagship purification facility in Ironton is weeks away from the final installation of remaining processes and we expect to reach mechanical completion by early April. Despite experiencing delays outside of our direct control, we expect to be on track for commercial production of pellets and be in a position to ramp-up production by the end of April. The whole Company has worked hard to overcome various challenges during the last four months, and like many of you who have followed our progress, we cannot wait to start-up operations at Ironton.”

While our focus was primarily on Ironton during the fourth quarter and year-to-date, PureCycle continued its momentum on pursuing its growth strategy. Since our last corporate update, we announced our first PP recycling facility in Europe at the Port of Antwerp-Bruges in Belgium and continued to make progress on our joint venture agreement with Mitsui in Japan and development plans with SK geo centric in South Korea.

Larry Somma, PureCycle’s Chief Financial Officer, added, “We are pleased to have reached a mutually agreeable resolution with our Bondholders on a limited waiver. Equally important, we secured a $150 million revolving line of credit to be available for general working capital purposes. We are also in various stages related to additional capital raises in order to further strengthen our balance sheet. As we have noted previously, our goal is to maintain financial flexibility and optionality with the capital we raise prior to Ironton being fully operational. The interest in our mission is very strong and once Ironton is operational, we will endeavor to raise the capital necessary to fund Phase 1 of our Augusta project at an attractive cost of capital for the benefit of all stakeholders.”

Ironton Update

Construction of the Company’s flagship purification facility in Ironton is in its final stages of construction and nearly mechanically complete, with the remaining systems expected to be mechanically complete in April. PureCycle expects to be in a position for commercial production of Ultra-Pure Recycled (“UPR”) resin and begin ramping up production at the Ironton facility by the end of

April. The delay in our start-up commissioning timeline was primarily due to engineering rework, extruder component deliveries, and extruder electric equipment damaged during commissioning.

Subsequent to year-end and following the Company’s inability to complete all construction activities by December 1, 2022, the Company and Ironton Bondholders agreed to a limited waiver to the original Indenture Agreement that principally adjusts certain operational milestones and transfer of funds for specified purposes.

Expansion Update

The Company continues to move forward on engineering and pre-construction activities at its planned multi-line purification facility in Augusta, Georgia. As of year-end, the Company has committed or spent $185.7 million on long-lead equipment for Phase 1 of the Augusta project.

On January 17, 2023, PureCycle and the Port of Antwerp-Burges announced the Company’s first European PP recycling facility in the port’s NextGen District located in Belgium. Initially the site will have one purification line with an annual nameplate capacity of 130 million pounds, with the potential to expand up to four purification lines with a nameplate capacity of 520 million pounds. We anticipate construction activities to commence in the first half of 2024, with production ramp-up currently anticipated in the first half of 2026.

Additionally, PureCycle signed a Heads of Agreement (“HOA”) with Mitsui, which outlines the general terms of the expected joint venture agreement, and together have identified two potential sites to develop a multi-line purification facility. Our joint venture team with SK geo centric in Ulsan

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Exhibit 99.1

PureCycle Technologies Provides Third Quarter 2022 Update

-PureCycle’s flagship purification facility in Ironton, Ohio, (“Ironton”) targeting mechanical completion and pellet production in the first quarter of 2023.

-Closed on offtake agreements representing 106.0 million pounds of ultra-pure recycled (“UPR”) resin bringing total signed offtake agreements to 111% of nameplate capacity for Augusta lines 1 and 2.

-Finalized its Joint Venture Agreement with SK geo centric to develop a purification facility in Ulsan, South Korea.

-Financing to fund Augusta’s first two purification lines and three East Coast preprocessing (“PreP”) facilities targeted for completion by year-end with PureCycle evaluating scenarios with the objective of maintaining optionality in its capital structure as it moves to operational revenue in 2023.

(ORLANDO, Florida – November 9, 2022) – PureCycle Technologies, Inc. ("PureCycle” or “the Company") (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today announced a corporate update and financial results for the third quarter ending September 30, 2022.

Management Commentary

Dustin Olson, PureCycle’s Chief Executive Officer, said, “The PureCycle team continued to make significant progress in executing the Company’s strategic growth plans during the third quarter. Timing of mechanical completion and pellet production at our flagship Ironton facility has been pushed back a few weeks due to unexpected delays in the delivery of key processing equipment. Currently, all our construction modules are set, and we anticipate reaching mechanical completion and pellet production in the first quarter of 2023.

Since our last corporate update we executed a joint venture agreement (“JVA”) with SK geo centric for the development of a polypropylene purification facility in Ulsan, South Korea. Our commercial team continued to sign offtake agreements for Augusta lines 1 and 2 with Ironton fully committed and the first two lines in Augusta overcommitted at 111% through multi-year agreements. Lastly, in partnership with Milliken & Co, we announced the first fully sustainable, odorless concentrate for the recycled PP resin marketplace. PureCycle remains steadfast in its mission to advance the sustainable plastic revolution on a global basis through its unique purification process.”

Larry Somma, PureCycle’s Chief Financial Officer, added, “We have experienced a more challenging financing market than originally anticipated when initiating our fund raising efforts in June. Despite the market, we are encouraged by the meaningful interest that has been created in support of our mission. At this stage, PureCycle has several options that are being evaluated that gives us confidence that the Company will raise the necessary capital to fund Phase 1 of our multi-line development in Augusta and three East Coast PreP facilities. Our objective remains raising the necessary capital to fund our growth and help bridge us to our goal of delivering Ironton operational revenue in 2023. We are working diligently to have financial flexibility and the needed commitments by year-end.”

Operational Update

PureCycle’s flagship purification facility in Ironton, Ohio is in the final phases of construction with all 26 modules delivered and lifted into place. In addition, PureCycle has completed its Ironton PreP build out and is currently in commissioning and processing feedstock onsite. The Ironton purification facility will have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled (“UPR”) resin.

The Company continues to move forward on engineering and construction activities at its planned multi-line purification facility in Augusta, Georgia. Based on the current expectation that funding for the project will be in place by year-end, we now anticipate mechanical completion, startup, and full commissioning of Augusta lines 1 and 2 to be in the second half of 2024. We are discussing the financing timeline with the Development Authority of Augusta, Georgia (“AEDA”).

PureCycle continues to execute its East Coast Prep strategy to supply feedstock for its Augusta purification operations and has adjusted the start-up timelines at the three locations to be aligned with our revised purification facility timeline. The Company continues to work with local officials in Central Florida in an effort to remedy issues related to obtaining the necessary water and sewer permits to construct its current PreP site. The Company has also begun an evaluation of alternative sites in Central Florida. Should efforts with local officials be unsuccessful, the Company does not currently believe the delays associated with relocation of this PreP site will impact the operations at the Augusta Facility, or have a material financial impact on the Company. We expect our three PreP facilities (Central Florida, Denver, Pennsylvania, and Augusta, G

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Exhibit 99.1

PRESS RELEASE

PureCycle Technologies Provides Second Quarter 2022 Update

-Project debt financing to fund Augusta’s first two purification lines and three East Coast PreP facilities expected to be completed by the fourth quarter.

-Received FDA prenotification letter confirming that the company will receive an agency opinion letter for the use of food-grade post-industrial recycled materials for all food types under Conditions of Use A-H, and a Letter of No Objection (LNO) for all food types under Conditions of Use E-G for food-grade post-consumer (stadium trash) recycled feedstock.

-PureCycle’s flagship purification facility in Ironton, Ohio, (“Ironton”) remains on schedule, targeting mechanical completion in the fourth quarter 2022 and expected pellet production by year-end 2022.

(ORLANDO, Florida – August 11, 2022) – PureCycle Technologies, Inc. ("PureCycle” or “the Company") (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today announced a corporate update and financial results for the second quarter ending June 30, 2022.

Management Commentary

Dustin Olson, PureCycle’s Chief Executive Officer, said, “PureCycle continued to build on its operational momentum during the second quarter of 2022 and execute against its strategic growth plan. The operational start-up of our flagship facility in Ironton remains on track and marks a significant milestone in PureCycle’s commercial path to addressing the global plastic waste crisis. Our Augusta multi-line purification facility build-out is underway, with startup now expected to be in the first quarter of 2024. We continued to expand our feedstock supply network, with full allocation of Ironton and the first two lines in Augusta through multi-year commitments.

“PureCycle remains steadfast in its mission to advance the sustainable plastic revolution through its unique purification process. Our inaugural ESG report highlights PureCycle’s commitment to sustainability with LCA data expecting to support a lower carbon footprint and reduction in energy expenditure as compared to traditional plastic production. PureCycle aims to mitigate its environmental footprint through proactive evaluation of operational impacts from preprocessing through pellet production. We look forward to updating the market with a more in-depth evaluation once our Ironton facility becomes fully operational.”

Larry Somma, PureCycle’s Chief Financial Officer, added, “We are pleased that project debt financing is expected to be completed by the fourth quarter of 2022. Upon the anticipated closing of this transaction, we expect to have sufficient capital to fund Augusta’s first two purification lines and three East Coast PreP facilities.”

Operational Update

PureCycle’s flagship purification facility in Ironton remains on track with mechanical completion expected in the fourth quarter 2022 followed by initial pellet production by year-end. We are in the final phases of construction with 14 of the 26 modules delivered and lifted into place. In addition, PureCycle is nearing completion of its feed preprocessing (“PreP”) build out and full

commissioning is underway. The Ironton purification facility will have an annual capacity of 107 million pounds per year of Ultra-Pure Recycled (“UPR”) resin.

During the second quarter, the Company’s engineering, procurement, and construction activities at its first multi-line purification facility in Augusta continued to make progress. Due to the current economic climate, current projections anticipate mechanical completion, startup, and full commissioning in 2024. The PureCycle team is integrating lessons learned, and improvements from the Ironton construction into the Augusta development, which we expect will improve installation efficiency.

On May 25, 2022, PureCycle received a prenotification letter from the United States Food and Drug Administration (FDA) confirming that the company will receive an agency opinion letter for the use of food-grade post-industrial recycled materials for all food types under Conditions of Use A-H, and a Letter of No Objection (LNO) for all food types under Conditions of Use E-G for food-grade post-consumer (stadium trash) recycled feedstock. The Company currently plans for additional testing and intends to make further LNO submissions for additional Post-Consumer Recycled (PCR) sources and expanded conditions of use.

The Company recently announced three leadership changes effective August 5, 2022. Mike Otworth, Chairman of the Board of Directors and CEO of PureCycle, resigned and Dustin Olson, PureCycle's Chief Operating Officer and Chief Manufacturing Officer, was promoted to the role of CEO and joined the Company’s Board of Directors. Mr. Olson has been with PureCycle since January 2021, leading technical, manufacturing and project operations. Dan Coombs, a current member of PureCycle's Board of Directors, was appointed, upon

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Exhibit 99.1

PureCycle Technologies Provides First Quarter 2022 Update

- PureCycle’s flagship purification facility in Ironton, Ohio, remains on schedule targeting mechanical completion in early fourth quarter 2022 and expected pellet production by year-end 2022.

- Construction is underway for PureCycle’s second purification facility, the first multi-line purification facility in Augusta, Georgia, with Phase 1 (260 million pounds capacity) on track for startup in fourth quarter of 2023.

- Commercial pipeline progressing with the Augusta purification facility (lines 1 & 2) currently 70% allocated through multi-year commitments. Feedstock discussions remain on track with 75% of lines 1 & 2 under letters of intent (LOIs).

- PureCycle added top industry leaders to its Board of Directors with the appointments of Steven Bouck and Allen Jacoby as independent directors, effective March 15, 2022.

(ORLANDO, Florida – May 12, 2022) – PureCycle Technologies, Inc. ("PureCycle” or “the Company") (NASDAQ: PCT), a U.S.-based company revolutionizing plastic recycling, today announced a corporate update and financial results for the first quarter ending March 31, 2022.

Management Commentary

Mike Otworth, PureCycle’s Chairman and Chief Executive Officer, said, “PureCycle made considerable operational progress during the first quarter of 2022 and continues to execute against its strategic growth plan. Our Augusta purification facility build-out is underway and remains on track for startup in the fourth quarter of 2023. We continue to expand our feedstock supply network highlighted by significant progress on our first two lines in Augusta, while the successful commercial market progress of our team is visible through the full allocation of Ironton and 70% allocation of the first two lines in Augusta through multi-year commitments.

“PureCycle remains steadfast in our mission to advance the sustainable plastic revolution through our unique purification process. We are excited about our recent progress and look forward to updating you as we continue to advance our objectives throughout the remainder of 2022 and beyond.”

Larry Somma, PureCycle’s Chief Financial Officer, added, “Following our successful private placement equity raise in March, we remain intently focused on securing project debt financing for Augusta lines 1 and 2, along with three PreP facilities. We have engaged Jefferies LLC to lead the project debt financing, which is progressing, and we look forward to providing updates to the market as soon as it is completed.”

Operational Update

PureCycle’s flagship purification facility in Ironton, Ohio remains on track with mechanical completion expected in early fourth quarter 2022 followed by initial pellet production by year-end. The construction site is now energized and 4 out of the 26 modules have been delivered and lifted into place. In addition, 98% of the PreP equipment is now on site and the Company plans a preprocessing soft start in the third quarter of 2022. The Ironton flagship purification facility has a capacity of 107 million pounds per year of Ultra-Pure Recycled (UPR) resin and will mark the Company’s first step in tackling the ongoing plastic waste crisis around the globe.

During the first quarter, PureCycle broke ground on its first multi-line purification facility in Augusta, Georgia, in-line with the Company’s previously stated timeline. Since starting construction, engineering activities remain on track and key construction contracts are in place. PureCycle has placed key long lead orders including vessels, precision machinery and instrumentation. PureCycle anticipates an acceleration of Phase 1 construction activities by leveraging the existing key strategic partnerships utilized in Ironton’s buildout; the first two purification lines are currently on track for start-up in the fourth quarter of 2023.

The Company recently announced the appointment of two new members to its existing Board of Directors, Steven F. Bouck and Allen Jacoby, effective March 15, 2022. With 50 years of combined experience, these additions to the PureCycle’s leadership team will be instrumental in advancing the Company’s mission and business objectives. PureCycle’s also announced its recent elevation of Dustin Olson to chief operating officer in addition to his chief manufacturing officer responsibilities and the expansion of two key roles to the Company’s current finance team. The supplemental positions include the vice president of finance and senior director of revenue.

Feedstock and Commercial Update

PureCycle has continued to advance the feedstock procurement pipeline, with approximately 215 million pounds of polypropylene under LOI, to supply the first two lines of the Company’s Augusta’s purification facility. The Company continues to focus on securing feed for the remaining feedstock capacity and is actively targeting feed streams that are cu

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*PRESS RELEASE*

PureCycle Technologies Provides Fourth Quarter 2021 Update, Announces $250 Million Investment

-Announced $250 million private equity capital raise to support the build out of the Augusta, Georgia multi-line manufacturing complex and other strategic and general corporate purposes; Transaction expected to close on March 17, 2022, subject to the satisfaction of closing conditions

-Plant 1, the first manufacturing plant in Ironton, Ohio, remains on schedule to complete construction in the fourth quarter of 2022

-Plant 2, first multi-line purification complex in Augusta, Georgia, to break ground with initial site work construction scheduled for March 22, 2022

-PureCycle signed letters of intent (LOI) for 60 million pounds of new feedstock from untapped waste streams that are currently landfilled or incinerated

-PureCycle’s chief manufacturing officer, Dustin Olson, has been elevated to chief operating officer

(ORLANDO, Florida – March 9, 2022) – PureCycle Technologies, Inc. ("PureCycle” or “the company") (NASDAQ: PCT), a U.S.-based advanced recycling company revolutionizing plastic waste, today announced a corporate update and financial results for the fourth quarter ending December 31, 2021.

This includes entering into subscription agreements with a select group of existing stockholders including among others, Sylebra Capital and Samlyn Capital along with a new investor, SK geo centric, for a private placement of common stock and warrants (the “Offering”). Upon closing of the private placement, PureCycle will receive net proceeds of approximately $250 million.

Mike Otworth, PureCycle’s Chairman and Chief Executive Officer, said, “PureCycle remains intently focused on executing against its strategic growth plan and advancing the sustainable plastic revolution through our unique purification process. That growth plan is now further supported by the additional $250 million investment from our long-term shareholders and a new investor. This transaction underscores the support from our shareholder base and highlights a vote of confidence in our technology.”

Larry Somma, PureCycle’s Chief Financial Officer, stated, “PureCycle’s successful announcement of our oversubscribed private placement financing marks an integral step for our company and highlights trust in our ability to execute. It is also a testament to the support we have from several of our long-term shareholders and a new investor. While we have an ambitious growth objective, this capital will provide sufficient capital to fund our business plan which includes building the first four purification lines in Augusta, the supporting feedstock pre-processing (PreP) facilities, our equity investment for the joint venture with SK geo centric and funding of general corporate purposes. This capital raise is a key element for the project debt process which is underway. Any news related to the project debt will be provided to the market at a future time. Operationally, we expect to break ground in Augusta on March 22, 2022, and look forward to providing further details during the corporate update call.”

Na Kyung-soo, CEO, SK geo centric, said, “The welcome addition of SK geo centric to the group of investors demonstrates another strong commitment to the PureCycle technology and business plan. SK geo centric and PureCycle engaged across multiple face to face meetings to understand the key technical details as well as chart a path into South Korea and broader Asia. Our company has a strategic

goal to increase the usage of recycle material into our core product platform that aligns perfectly with PureCycle’s core mission. Our equity investment into the PureCycle is the first step toward a long-term strategic partnership.”

Private Placement of Common Stock Details

The Offering included subscription agreements with Sylebra Capital, Samlyn Capital, and partner SK geo centric. Additionally, certain members of the PCT Board of Directors participated in the Offering. Upon closing of the Offering, PureCycle will receive net proceeds of approximately $250 million, resulting from the sale of 35.7 million shares of common stock and warrants to purchase 17.9 million shares of common stock. Subject to the satisfaction of conditions to closing set forth in the securities purchase agreement, the Offering is expected to close on March 17, 2022. Subscribers in the transaction will pay $7.00 per combination of one share of common stock and warrant to purchase one-half of a share of common stock. Each warrant will have an exercise price of $11.50 per share and can be exercisable through March 17, 2026.

The securities were offered only to accredited investors. PureCycle is required to prepare and file a resale registration statement with the Securities and Exchange Commissions (the “SEC”) under the Securities Act of 1933, as amended (the "Securities Act"), covering the resale of the shares of common

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EXHIBIT 99.1

Exhibit 99.1

NEWS RELEASE

PureCycle Technologies Provides Third Quarter 2021 Update

- Plant 1, the first manufacturing plant in Ironton, Ohio, remains on schedule for expected completion in the fourth quarter of 2022

- Plant 2, first cluster facility in Augusta, Georgia, on track for site work expected to begin in the first quarter of 2022

- Identified 1.6-billion-pound feedstock supply pipeline; Signed 6 new LOIs representing 168 million pounds of feedstock

- Submitted FDA Letter of No Objection on September 10, 2021

- Total liquidity of $494.1 million, including $221.1 million of unrestricted cash and investments and $273.0 million of restricted cash, at quarter-end September 30, 2021

(ORLANDO, Florida – November 10, 2021) – PureCycle Technologies, Inc. ("PureCycle” or “the Company") (NASDAQ: PCT), a company seeking to revolutionize polypropylene recycling, today announced a corporate update and financial results for the third quarter ending September 30, 2021.

Management Commentary

“Since our second quarter update, we have continued to execute and advance our strategic plan, highlighted by Plant 1 in Ironton, Ohio, which is progressing on schedule to be operational in the fourth quarter of 2022. In addition, our first cluster facility in Augusta, Georgia remains on track with site work expected to begin in the first quarter of 2022,” said Mike Otworth, PureCycle's Chairman and Chief Executive Officer.

“We successfully expanded our feedstock supply network during the quarter signing multiple LOIs for feedstock, as well as identifying a 1.6-billion-pound feedstock supply pipeline. On the commercial front, we continue to see demand and the market continues to accept our Feedstock+ pricing model. Additionally, we completed the submission of the FDA Letter of No Objection in September and the first ever PureCycled plastic product was brought to market. PureCycle remains on schedule to achieve our strategic milestones and we look forward to updating you on our progress next quarter.

“What we are creating at PureCycle is more than a plastic that can be infinitely sustainable, we are giving brands an opportunity to be deliberate and genuine when it comes to creating sustainable products that put our environment at the forefront. The work we have done over the last quarter not only positions us well to achieve our strategic goals, but also helps bring this tremendous opportunity to the commercial market.”

Operational Update

In Ironton, Ohio, our flagship facility is well under way and is expected to be operational in the fourth quarter of 2022. Our first facility is expected to produce 107 million pounds per year of Ultra-Pure Recycled (UPR) resin. In the second quarter of next year, we expect to have both our module equipment delivered and our Ironton feedstock preprocessing facility (PreP) operational. In Ironton’s September 2021 Leidos report, the noted schedule delays are non-critical path activities that include the rail line and final building modifications. We expect that these activities should not impact the final project completion.

During the third quarter, PureCycle approved additional investments in Ironton with a focus on de-risking and processing expansion, contributing to an increase in the total project costs by $30-40 million relative to the initial budget. Approximately two-thirds of the additional cost represents an investment to process a higher percentage of feed contaminants and safety design improvements, while approximately one-third represents an escalation in base material pricing.

The Augusta cluster facility, which is designed to ultimately produce up to 650 million pounds annually per year across five processing lines, remains on track for preliminary site work to begin in the first quarter of 2022. PureCycle continues to address the critical path for Augusta by making long lead purchases which will occur throughout the rest of this year.

During the third quarter, the Company has made considerable progress on European site selection, identified potential European feedstocks, and with the Company’s submitted FDA Letter of No Objection, PureCycle has begun preparations for communications with the European Food Safety Authority (EFSA).

PureCycle made significant announcements during the third quarter as it relates to the Company’s expansion into the Asia-Pacific and continues to progress the memoranda of understanding with Mitsui in Japan and SK Geo Centric in South Korea to definitive agreements, which will help the Company pave the way for building a PureCycle ecosystem globally.

Feedstock and Commercial Update

PureCycle made significant advancements in the Company’s feedstock procurement process during the third quarter highlighted by the identification of approximately 1.6 billion pounds of potential feedstock that is, at present, moving through the market and/or being landfilled. This feedstock supply pipeline compr