PureCycle Technologies Inc. announced a new line of sustainable tamper-evident packaging, SnapPack Square EVO, in partnership with IPL Schoeller, with each unit containing 20% of PureCycle's PureFive recycled polypropylene. The launch builds on the two companies' earlier collaboration with Cleveland Kitchen on the first food-contact grocery container made with PureFive resin to reach full commercial production, which incorporated 25% post-consumer recycled polypropylene. PureCycle's patented dissolution technology will be used to ensure the 20% PureFive resin content in each SnapPack Square EVO unit, and the resin holds APR Certification for PCR content and has been acknowledged under New Jersey's Recycled Content Law, which currently requires covered rigid plastic containers to contain at least 10% post-consumer recycled content, rising to 20% in 2027 and 50% by 2036. The launch came alongside a weaker second quarter, in which PureFive output fell sequentially to 4.5 million pounds on a planned turnaround at the Ironton facility, adjusted EBITDA losses widened to $31.7 million from $27.8 million in Q2 FY25, and the company posted a net loss of $142.2 million, while management raised its full-year 2026 project spending guidance to a $45 million to $50 million range from previous estimates of $39 million to $45 million. As per 13F filing data for Q2 2026, 40 hedge funds held positions in the stock compared to 34 at the end of the first quarter, with Sylebra Capital the largest institutional investor at 34.08 million shares, or 16.96% of outstanding shares, followed by Abundance Wealth Counselors at 12.60% and BlackRock at 5.53%.
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Purecycle Technologies Holdings Corp