SEATTLE (Recycling Monster): In Q4 of last year, leading recycling company PureCycle reported making major strides toward profitability. Over the course of the preceding year, the business faced numerous operational and financial difficulties.

The company's journey to commercialization was largely aided by the upgrades made to its Ironton, Ohio factory and the recent launch of its new sorting facility in Denver, Pennsylvania.

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The CEO of PureCycle, Dustin Olson, stated that the company's 2024 financial results showed a $289.14 million loss. This is comparable to a $101.72 million loss in 2023. About $33 million was made from the recent sale of about 4.1 million shares of common stock. Additionally, the company made almost $18 million in gross profits in August from the selling of almost $22.5 million worth of bonds.
The year 2024 was a very challenging one for the business. After a mechanical malfunction, the Ironton facility had to stop operations in April in order to make upgrades. The business settled a lawsuit involving a major power outage at the plant in May of last year.

Both production volume and product quality increased from quarter to quarter as a result of the Ironton facility's upgrades. Noteworthy is the fact that in 2024, Ironton produced 3.6 million pounds of resin.