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great call, shorts are toast on the nxt update imvho ANT
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.
fyi a keeper in my book ANT
Lookin' forward to numbers today and cc, just because of the huge short and their games, loads of cash on the side, me and the company lol ANT
volume intact, 6 million shares with 2,5 hours to go, ANT
jfyi shorty: you don't take out ur fire with fuel, but welcome anyway... ANT
15,46~~ ANT
15,07~~ ANT
almost 1 hour of tradin' and closin' in on 2 million shares traded, i like it, ANT
This puppy wants 15's today, jmho ANT
added some more just under 14, numbers soon, ANT
got it already, ANT
14 million shares traded, it's a start.... ANT
14,69~~ ANT
13,60~~ ANT
my nxt number, keeper for the future, ANT
12,50~~ ANT
12,37~~ ANT
ding ding ding 12's approachin', ANT
11,83~~ ANT
11,70~~ ANT
11,59~~ ANT
11,47~~ ANT
any day now we'll enter 12's, stay tuned, ANT
churnin' on less and less shares, think twice b4 u sell, i added some 11's, ANT
350k shares traded after 1 hour, nice because it shows most are holdin', where will shorts get their shares? Lol ANT
14,50 my first target, imvho ANT
11,41~~ and shortie will start to feel it, hmm, don't u luv it? ANT
11,32~~ ANT
11,30~~ overseas buyin' for a squa eeze? Hmm ANT
11,21~~ ANT
I can feel the hunger, earnings a comin', ANT
pct 11,25~~ ANT
pct 11,20~~ ANT
pct 10,53 ~~ ANT
PCT under $10
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