PlasCred Circular Innovations Inc. Announces Alberta Innovates Funding Grant
' PlasCred is rapidly working on a solution that can reduce the amount of plastic waste ending up in our landfills by turning it back into raw materials that can be used in the petrochemical industry," says Mark Summers, VP Agriculture & Environment at Alberta Innovates. " We are pleased to support the development of technologies that expand Alberta's circular economy capacity; creating new jobs in new industries, and empowering local entrepreneurs.'
PlasCred has already demonstrated proof-of-concept success with patent pending Primus, its pilot-scale unit, which has been operational since May 2023. Primus has served as a foundational testing platform, validating the conversion of waste plastics into high-value Renewable Green Condensate™ ('Condensate') at a small scale. Over the past year, extensive testing on diverse feedstocks has provided critical data on catalyst behavior, polymer breakdown efficiency, and product quality stability. This research has guided the engineering design of PlasCred's proposed Neos facility and provided insights into optimizing feedstock processing, reaction conditions, and end-product refinement.
With this Alberta Innovates funding, PlasCred is taking the next step-building upon the scientific groundwork established by Primus. Leveraging the proven results from Primus, this phase will focus on incremental optimization of catalyst formulations and process conditions, further enhancing efficiency, consistency, and energy management, ensuring a smooth transition to full-scale commercial operations.
' Our Alberta Innovates-backed research partnership is a key milestone in optimizing our process for commercial deployment," said Troy Lupul, President & CEO of PlasCred. " Primus has already validated the commercial feasibility of our process. Our current work is centered on detailed refinements and operational enhancements to further optimize efficiency and prepare for immediate scale-up. '
Strategic Scalability in Alberta's Industrial Heartland
PlasCred's scalability strategy is strategically centered on the CN Rail Scotford Yard, a fully permitted industrial site located within Alberta's Industrial Heartland-Canada's premier hydrocarbon processing region. This site provides PlasCred with exceptional infrastructure, robust transportation networks, a favorable regulatory environment, and access to a highly skilled workforce experienced in industrial operations and advanced processing technologies. Building on the successful demonstration achieved by the Primus pilot facility, both the proposed Neos and Maximus facilities will be co-located at the CN Rail Scotford Yard site in Fort Saskatchewan.
The proposed Neos facility will initially process 100 metric tonnes of plastic waste per day, yielding approximately 500 barrels of Renewable Green Condensate™ daily. The larger proposed Maximus facility is designed to start operations processing 400 metric tonnes per day, producing roughly 2,000 barrels per day condensate, with built-in scalability to expand up to 2,000 metric tonnes per day, generating 10,000 barrels per day condensate.
This co-location leverages substantial existing enclosed infrastructure, extensive rail connectivity, and operational synergies, providing significant logistical advantages. Moreover, PlasCred's recent execution of a definitive long-term offtake agreement with a Global Commodities Company ('GCC') adds an additional layer of financial certainty. Under the terms of the agreement, GCC will purchase all Renewable Green Condensate produced at Neos for a fixed price of $120.00 CAD per barrel over a five-year period, with a right of first refusal ('ROFR') on future volumes from PlasCred's Maximus facility. This offtake ensures predictable revenue streams that will support sustainable operational growth and capital planning as the company scales.
PlasCred is ideally positioned for economic and sustainable growth through this combination of strategic site selection, strong industrial partnerships, and long-term revenue assurance.
This latest Alberta Innovates funding and continued advancements in material properties and catalyst research, PlasCred is accelerating its transition from pilot-scale success to large-scale deployment, reinforcing its commitment to innovation and sustainability. This progression underscores PlasCred's role as a transformative force in true plastics circularity.
About PlasCred Circular Innovations Inc.
PlasCred is at the forefront of rebalancing the future of plastics. The company is transforming plastic waste by granting it a valuable second life. With a vision of advancing towards a climate-positive future, PlasCred aspires to be among the largest advanced plastic waste recyclers in North America and globally. Their groundbreaking patent-pending technology is set to revolutionize the approach to plastic waste management and advanced recycling.
PlasCred also has strategic partnerships with CN Rail, Palantir Technologies Inc., Fibreco Export Inc., and a Global Commodities Company . These collaborations provide PlasCred with world-class logistics, advanced operational intelligence, and stable long-term revenue, supporting its leadership in the global circular plastics economy.
ON BEHALF OF THE BOARD
Troy Lupul - President & CEO
Contact Information
For more information please contact:
PlasCred Circular Innovations Inc.
Troy Lupul
Phone: +1 403-863-4788
Forward-looking Statements
This press release includes forward-looking statements under applicable securities laws. Such statements relate to future activities, results, or developments anticipated by PlasCred Circular Innovations Inc. and are based on reasonable assumptions but involve risks and uncertainties. Forward-looking statements can often be identified by terms such as 'expects,' 'intends,' 'plans,' or similar expressions. Actual results may differ materially due to economic conditions, regulatory changes, and other risks described in the Company's public filings available on SEDAR at www.sedarplus.ca. Readers are cautioned not to place undue reliance on these statements. PlasCred disclaims any obligation to update forward-looking statements except as required by law.
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