PureCycle (PCT) Surges 12% on EU Expansion

We recently published Monstrous Gains: 10 Stocks Leaving Wall Street in the Dust. PureCycle Technologies Inc. (NASDAQ:PCT) is one of the best performers on Tuesday.

PureCycle snapped a three-day losing streak on Tuesday, jumping 12.22 percent to close at $14.78, as investors snapped up shares amid its expected expansion into the European Union (EU).

This followed the receipt of its Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) Compliance, which certifies that PureCycle Technologies Inc. (NASDAQ:PCT) has met the EU’s stringent regulatory requirements for human health and environmental protection.

“Achieving EU REACH certification will allow us to help expand the reach of our first-of-a-kind dissolution recycling technology. We’re seeing demand for PureFive resin in Europe, and this certification will allow us to put future orders of our high-quality recycled polypropylene into the hands of these potential customers, allowing them to try our products before our European production starts in 2028,” said Wiebe Schipper, vice president for European and Asia Pacific operations of PureCycle Technologies Inc. (NASDAQ:PCT).

The certification supports the company’s plans to build its first European facility at the port of Antwerp in Belgium, with the project expected to be completed over the next three years.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.