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PureCycle Corporation (NASDAQ small cap:PCYO) is an investor-owned water company providing water and wastewater services including water production, storage, treatment, distribution, wastewater collection and treatment, irrigation water treatment and distribution, construction management, billing and collection and emergency response to its customers located in the greater Denver metropolitan area.
Throughout the arid western United States, water has been the single most important component in the development of land. The administration of water rights has a rich history of real property entitlement in Colorado. Dating back to the early gold rush days, the doctrine of ‘prior appropriation’ has developed into an intricate set of laws and policies governing who has the right to put surface water and groundwater to beneficial use. Water rights are administered by the State Engineers Office and the State’s water court system.
Pure Cycle has acquired a unique and sizable water portfolio from which the company diverts, treats, stores, and distributes water to customers in the Denver metropolitan region. The Company acquired its water rights through a series of acquisitions, the largest of which was a privatization agreement with the Colorado State Board of Land Commissioners and the Rangeview Metropolitan District, a quasi-municipal district.
Pure Cycle owns or has rights to approximately 30,000 acre feet of water per year near the Denver metropolitan area as well an additional approximately 70,000 acre feet of Colorado River water on the state’s western slope.
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