PURE CYCLE CORP

Pure Cycle Corporation is a diversified water and wastewater service provider, land developer, and home rental company. The company provides wholesale water and wastewater services in the Denver, Colorado area. It develops land it owns into master planned communities and develops single-family homes for rent. Each of these businesses generates recurring monthly income. For over 30 years, Pure Cycle has accumulated a portfolio of water rights, land interests, and single-family rental homes along the Front Range of Colorado. The company operates and maintains an extensive network of wholesale water production, storage, treatment, and distribution systems, as well as wastewater collection and treatment systems. These systems serve domestic, commercial, and industrial customers in the eastern Denver metropolitan region. Pure Cycle's primary land asset, Sky Ranch, is located in the Denver metropolitan region along the I-70 corridor. Here, the company is developing lots for residential, commercial, retail, and light industrial uses. Sky Ranch is zoned to include up to 3,200 single-family and multifamily homes, parks, open spaces, trails, recreational centers, schools, and over two million square feet of retail, commercial, and light industrial space. All these will be serviced by the company's water and wastewater services segment. Additionally, Pure Cycle has retained lots in its Sky Ranch development for its single-family rental business. The company contracts with national homebuilders to construct single-family homes for rent, typically under annual lease agreements. Pure Cycle currently owns and rents 14 homes and plans to expand this business to include more than 200 rental homes at Sky Ranch over the next several years.