Purecycle Technologies Inc
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Materials : Chemicals | Small Cap Blend
Company profile

PureCycle Technologies, Inc. is engaged in commercializing a patented purification recycling technology developed by The Procter & Gamble Company (P&G), for restoring waste polypropylene into resin with near-virgin characteristics, called ultra-pure recycled (UPR) resin. The Company’s process includes two steps: Feed Pre-Processing (Feed PreP) and the use of the Technology for purification. The Feed PreP step collects, sorts, and prepares polypropylene waste (feedstock) for purification. The purification step is a purification recycling process that uses a combination of solvent, temperature, and pressure to return the feedstock to near-virgin condition through a novel configuration of commercially available equipment and unit operations. The purification process puts the plastic through a physical extraction process using critical fluids that both extract and filter out contaminants and purify the color, opacity, and odor of the plastic without changing the bonds of the polymer.

Closing Price
Day's Change
-0.18 (-2.83%)
B/A Size
Day's High
Day's Low

10-day average volume:

P&G stock leads the Dow's losers as debt-ceiling optimism turns investors away from safety of consumer staples

12:07 pm ET May 30, 2023 (MarketWatch)

Shares of Procter & Gamble Co. (PG) slumped 1.6% toward a 2 1/2-month low in midday trading, enough to pace the Dow Jones Industrial Average's decliners, as optimism over a debt-ceiling deal took investors' focus away from the safety of the consumer staples sector. The stock of P&G, which is the parent of staples brands such as Tide, Pampers, Tampax and Gillette, was falling as the Consumer Staples Select Sector SPDR exchange-traded fund shed (XLP) 1.2% as 34 of its 37 equity components lost ground. Among some of the ETF's biggest decliners, shares of discount retailer Target Corp. (TGT) dropped 2.7% and snacks giant Mondelez International Inc. (MDLZ) slid 2.5%. That compared with the 0.6% gain in Consumer Discretionary Select Sector ETF (XLY), which was led by the 4.9% rally in Ford Motor Co.'s stock (F) and Tesla Inc. shares' (TSLA) 3.9% jump.

-Tomi Kilgore

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 30, 2023 12:07 ET (16:07 GMT)

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