PureCycle Wins $46.4 Million Grant, Plans Belgium Recycling Facility

MT Newswires Live

03/25

PureCycle Technologies (PCT) said Wednesday it has signed a 40 million euro ($46.4 million) grant agreement with the European Climate, Infrastructure and Environment Executive Agency to finance a new recycling project in Belgium.

PureCycle said it plans to build a polypropylene dissolution facility capable of producing 130 million pounds of resin annually at the Port of Antwerp-Bruges.

The planned site aims to supply circular material alternatives to lower greenhouse gas emissions by 85% compared to conventional manufacturing, PureCycle said.

The company said it has also requested additional financial support from regional authorities to back the development.

Shares of the company were more than 6% in Wednesday trading.

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