a method and apparatus for underwater pelletizing and subsequent drying of polyethylene terephthalate polymers and other high temperature crystallizing polymeric materials to crystallize the polymer pellets without subsequent heating . high velocity air or other inert gas is injected into the water and pellet slurry line to the dryer near the pelletizer exit . the slurry line has a substantially straight component , and air is preferably injected at the end of the straight component nearest the pelletizer exit and in a direction substantially coincident with the axis of the straight component . the air injection significantly increases the speed of the pellets into and out of the dryer such that the pet polymer pellets leave the dryer above at least 135 ° c ., and preferably above 145 ° c ., to self - initiate crystallization .