Plastic recycling is on the verge of a potential major breakthrough.

‍What’s happening:‍

• PureCycle (NASDAQ: PCT) has announced a new record of successfully recycling more than a million pounds of plastic feedstock in a single week at their flagship facility located in Ironton, Ohio
  

Why it matters:‍

• Plastic does not biodegrade naturally, which causes severe negative impacts to soil, groundwater and the environment as a whole
  
• Finding ways to recycle common plastics and turn them into renewable inputs for new materials has the ability to drastically change the paradigm of how to deal with plastic waste
  

By the numbers:‍

• PureCycle’s Ohio based facility is now processing approximately 10,000 pounds of plastic per hour when operating at full capacity
  
• PureCycle also recently raised $90M USD in a new financing round, which was led by Sylebra Capital and Samlyn Capital
  
• In the United States only about 5-6% of all plastic waste is currently being recycled
  

Going deeper:‍

• PureCycle is aiming to become a first mover in turning the resin generated from recycled plastics into high quality inputs for new materials such as apparel and fabrics at commercial scale
  
• The technology underpinning PureCycle’s plastic recycling process was originally developed by The Proctor & Gamble Company (NYSE: PG) prior to PureCycle exclusively licensing it from them

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