Leadership & Pay ·
PureCycle appoints Fernando Musa as Executive Chairman; reports Q3 revenue of $2.3 million
PCTPureCycle Technologies, Inc.
PureCycle Technologies appointed Fernando Musa, an independent board member and former Braskem CEO, as Executive Chairman effective November 3, 2026. Dan Coombs stepped down as Chairman but remains on the Board. The company reported third-quarter revenue of $2.3 million, down from $4.5 million in Q2, primarily due to operational issues at its Ironton facility and regulatory delays in New Jersey that shifted approximately 50 million pounds of expected annual volume into 2027. Production reached 5.2 million pounds, up 14% sequentially as operational issues were resolved. The company ended the quarter with $193 million in liquidity and an undrawn $200 million revolving credit facility extended to September 2028. PureCycle Technologies operates a patented polypropylene recycling technology that transforms plastic waste into purified resin.