2023-04-28 12:40:43 ET
Achieving a major milestone this week, PureCycle Technologies (NASDAQ: PCT) announced that it has reached mechanical completion of its first polypropylene purification facility, representing a major development that brings the facility closer to commencing operations.
As of the end of Thursday's trading session, the plastic recycling stock has climbed 13.2% since the end of last Friday's trading session, according to data provided by S&P Global Market Intelligence .
With mechanical completion of the facility located in Ironton, Ohio, PureCycle Technologies says it will now begin operational pre-start-up activities and safety review processes. In addition, the company has filed for formal certification of completion regarding Ironton -- an important step, since certification from the site's independent construction monitor will provide PureCycle with access to additional financing.
For further details see:
Why Shares of PureCycle Technologies Are Soaring This Week