PureCycle Technologies, Inc. 8-K

What Happened
PureCycle Technologies, Inc. announced on its Form 8-K that on December 29, 2025 it entered into a Construction Progress Agreement (CPA) with the Development Authority of Augusta, Georgia (AEDA) to revise and supplement the Economic Development Agreement for its second‑generation polypropylene recycling facility in Augusta. Under the CPA, PureCycle agreed to pay AEDA a total of $500,000 in two equal cash installments of $250,000 (the first expected by January 9, 2026). The company also waived its Phase II option to lease an additional ~50 acres beyond the Phase I site.

Key Details

• Cash commitment: $500,000 total, paid in two $250,000 installments; first payment expected by January 9, 2026.
• Land/scale: PureCycle waived the Phase II ~50‑acre lease option; Phase I site remains planned to support the second‑generation lines.
• Production capacity context: Phase I was originally sized for eight first‑generation lines (~130M lbs each); second‑generation lines are currently anticipated to produce ~300M lbs of recycled polypropylene pellets.
• Timeline & rights: CPA sets revised construction and milestone targets through commissioning, startup, and full production, including a required start of construction no later than March 2028, and gives AEDA certain penalties and termination rights if milestones are missed.

Why It Matters
This filing updates investors on a formal change to PureCycle’s local development agreement and project timeline for its Augusta recycling facility. The $500k cash payments and waiver of the Phase II land option reflect near‑term financial and site‑planning commitments, while the revised milestones (including a March 2028 latest start of construction) and AEDA’s penalty/termination protections clarify risks and deadlines tied to project progress. Investors should view this as a material operational update about the company’s plant development schedule and obligations.