Latest news with #PlasCred
Globe and Mail
2 days ago
- Business
- Globe and Mail
PlasCred Awarded $5 Million Grant from Emissions Reduction Alberta to Advance Neos Facility
Calgary, Alberta--(Newsfile Corp. - July 23, 2025) - PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) (the " Company" or " PlasCred"), an Alberta-based clean technology company focused on advanced plastic recycling, is pleased to announce it has been awarded $5 million in non-dilutive funding from the Alberta government through Emissions Reduction Alberta (" ERA") to support the development of its first commercial-scale facility, Neos. 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™, a low sulphur, low carbon circular naphtha used as feedstock for the production of virgin plastic (" Condensate"). " By investing in advanced materials and circular economy solutions, we're helping Alberta's industries stay competitive, create jobs, and reduce emissions. This funding supports technologies that make better use of our resources while cutting costs. It's a win for both the economy and the environment." said Justin Riemer, CEO, Emissions Reduction Alberta With the Alberta government's support through ERA, PlasCred is advancing from pilot validation to commercial deployment, building on the technical and operational insights gained from its Primus facility to begin construction of the Neos facility and ensure a smooth transition to full-scale operations. " The Alberta government and ERA's support marks a critical milestone for PlasCred as we transition to commercial deployment," said Troy Lupul, President & CEO of PlasCred. "With this funding, we can move forward on construction, attract additional project capital, and demonstrate the role Alberta-based innovation can play in scaling circular solutions for hard-to-recycle plastics." Strategic Scalability in Alberta's Industrial Heartland PlasCred's entire scalability strategy is anchored at CN Rail's Scotford Yard in Fort Saskatchewan, inside Alberta's Industrial Heartland Canada's pre-eminent hydrocarbon-processing corridor. The permitted yard offers enclosed industrial buildings, a 200-car siding, existing utilities, and direct Class I rail connectivity. This combination delivers reliable inbound feedstock logistics and seamless outbound product shipment while giving PlasCred access to a highly skilled process-operations workforce and a business-friendly regulatory environment. Neos and the follow-on Maximus complex will be co-located at Scotford, capturing shared infrastructure and operating synergies. The Neos facility will initially process 100 tonnes (metric) of post-consumer plastic waste per day converting it into approximately 500 barrels per day of condensate. Once operational, the Neos facility is expected to divert 36,500 tonnes of plastic waste annually and reduce greenhouse gas emissions by an estimated 51,000 tonnes of CO₂e per year. The design incorporates PlasCred's proprietary dual catalytic pyrolysis technology. This approach minimizes energy consumption, improves safety, and enables the efficient conversion of mixed and contaminated plastics, including PVC and PET. Unlike incineration or waste-to-energy approaches, PlasCred's process produces a circular petrochemical feedstock that can be reused in the production of new, food-grade plastics. The system has been validated through over two years of continuous operation at the Primus pilot facility in Calgary. The Neos facility is forecasted to generate approximately $19 million in annual revenue and $6.9 million in EBITDA, based on management assumptions regarding feedstock cost, uptime, and offtake pricing. Neos has an estimated capital cost of $25 million, with construction targeted to begin later this year, subject to final project financing and permitting. Based on internal forecasts and current engineering assumptions, the project is expected to deliver an internal rate of return (IRR) of approximately 22.8% and a payback period of 4.3 years. These forward-looking estimates are based on internal models and subject to risks including construction timing, input costs, operations, and market conditions. The projected economics remain strong even without accounting for potential upside from plastic credit monetization or byproduct sales. PlasCred has executed a definitive five-year offtake agreement with a global commodities company (" GCC") for 100 percent of Neos production at a fixed price of $120.00 CAD per barrel, inclusive of freight terms. The agreement also includes a right of first refusal (" ROFR") on future volumes from PlasCred's next phase facility, Maximus. This offtake structure ensures predictable revenue and underpins long term capital planning. Neos will integrate Palantir Foundry, an industrial data platform from Palantir Technologies to capture real-time data on feedstock, facility performance and product quality; generate auditable life-cycle assessments (LCA) that verify every tonne of waste plastic is converted into new plastic and support Extended Producer Responsibility (EPR) compliance; track plastic-credit issuance, greenhouse-gas (GHG) emissions, and logistics for both inbound feedstock and outbound product; and fuse all inputs into a digital twin that delivers 360-degree operational visibility and AI-driven optimisation across PlasCred's entire business. The proposed Maximus facility is engineered to launch at 400 metric tonnes per day, approximately 2,000 barrels per day, and scale up to 2,000 tonnes per day, or 10,000 barrels per day condensate, through modular expansion. This co-location approach leverages existing enclosed infrastructure, CN integrated rail logistics, and shared site services, offering significant cost and execution advantages while anchoring Alberta as a hub for scalable, low carbon plastic circularity. PlasCred is well positioned for sustainable, long-term growth through a combination of strategic site selection, integrated logistics, and secured revenue from industry partnerships. Its co-located infrastructure at CN's Scotford Yard enables scalable deployment while minimizing execution risk. With support from the Alberta government through ERA, PlasCred is accelerating to commercial operations at Neos. This milestone highlights the strength of Alberta-developed technology and reinforces the province's leadership in advancing circular economy infrastructure. Neos represents a significant step forward in scaling clean, plastics-to-plastics innovation rooted in Alberta's industrial and innovation ecosystem. 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., the Government of Alberta, 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. For further information on PlasCred, visit our website at ON BEHALF OF THE BOARD Troy Lupul - President & CEO Forward-looking Statements Forward-looking statements in this release include, but are not limited to: the timing and cost of constructing the Neos facility; projected operating performance, revenues, EBITDA, internal rate of return and payback period; expected greenhouse-gas reductions; the availability of financing, feedstock and regulatory approvals; and the Company's broader commercialization and expansion plans. Such statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including, without limitation: construction and commissioning risks, cost overruns, supply-chain disruptions, operational performance at scale, feedstock pricing and availability, changes in commodity prices, regulatory or permitting delays, counter-party risk under offtake or financing agreements, and general economic conditions. A discussion of these and other factors that may affect future results is contained in the Company's continuous disclosure filings available under its profile on SEDAR+ at Forward-looking statements are not guarantees of future performance and readers should not place undue reliance on them. Except as required by applicable securities laws, the Company undertakes no obligation to revise or update any forward-looking statements to reflect new events or circumstances.
Associated Press
4 days ago
- Business
- Associated Press
PlasCred Circular Innovations Inc. Announces Closing of Strategic Private Placement
Calgary, Alberta--(Newsfile Corp. - July 21, 2025) - PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) ('PlasCred' or the 'Company'), a transformative leader in the advanced plastic waste recycling sector, is pleased to announce is pleased to announce that it has closed its previously announced non-brokered private placement (the 'Offering') on July 14, 2025. This follows the amended terms as disclosed in the Company's news release dated April 28, 2025. Under the Offering, the Company issued an aggregate of 16,380,000 units (each, a 'Unit') at a price of $0.05 per Unit for gross proceeds of $819,000. Each Unit consists of one common share and one common share purchase warrant (each, a 'Warrant'). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.07 for a period of 36 months from the date of closing. The net proceeds of the Offering will be used to advance construction of the Company's Neos facility, fund engineering and ongoing initiatives to optimize process efficiency, expand marketing efforts, and support general corporate and working capital purposes. All securities issued pursuant to the Private Placement will be subject to a statutory four-month-plus-one-day hold period. The completion of the Private Placement is subject to the receipt of all required regulatory approvals, including approval from the CSE. The Common Shares were offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation. In connection with the Offering, the Company's Board of Directors approved a revision to the vesting conditions of 5,000,000 previously issued Performance Warrants. The amended milestones align with the development of the Neos facility: one-third will vest upon securing $15 million in financing or commencement of construction, one-third upon mechanical completion of the facility, and the final third upon achieving a sustained average production rate of 450 barrels per day over a one year period. 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 circular plastics economy. For further information on PlasCred, visit our website at ON BEHALF OF THE BOARD Troy Lupul - President & CEO Contact Information For more information please contact: PlasCred Circular Innovations Inc. Troy Lupul Email: [email protected] Forward-looking StatementsThe Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release. To view the source version of this press release, please visit
Associated Press
03-06-2025
- Business
- Associated Press
PlasCred Circular Innovations Inc. Reports 2024 Year-End Results
PlasCred Wraps Transformational Year: Long-Term Offtake Secured, Neos Facility Progressing Calgary, Alberta--(Newsfile Corp. - June 3, 2025) - PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) ('PlasCred' or the 'Company'), a Canadian clean technology company transforming plastic waste into renewable industrial hydrocarbon feedstock, today announces its audited financial and operating results for the year ended December 31, 2024, highlighting key milestones including a significant offtake agreement, major project advancements, and strategic funding initiatives. PlasCred secured a definitive five-year offtake agreement with a leading Global Commodities Company ('GCC') for the entire output of its first commercial facility, Neos. The agreement provides a fixed price of CAD $120.00 per barrel for Renewable Green Condensate™ ('Condensate'), PlasCred's proprietary low-carbon hydrocarbon feedstock used in the production of virgin plastics, with renewal options and rights of first refusal on future production from both Neos and the planned larger-scale Maximus facility. Under FCA Incoterms, the customer assumes transportation responsibility at the Scotford site. 'This offtake agreement significantly de-risks our commercialization pathway and confirms strong market demand for our product,' said Troy Lupul, President & CEO of PlasCred. 'We now have market validation, secured long-term revenue, and a strategically advantageous site-all the necessary elements to begin building Canada's circular plastics infrastructure.' Neos Facility Development - Strategic Hub at CN's Scotford Yard Construction of PlasCred's Neos, to be strategically located at CN Rail's Scotford Yard in Fort Saskatchewan, Alberta, is expected to commence construction in early 2026, subject to regulatory approvals and financing completion, with commissioning anticipated late 2026. The Neos facility will process approximately 100 metric tonnes of plastic waste daily, producing around 500 barrels/day of condensate. The site's rail connectivity and proximity to Alberta's petrochemical infrastructure ensure efficient feedstock supply and product distribution. The facility will be co-located with the proposed Maximus plant, designed for phased expansion up to 2,000 tonnes/day processing capacity, yielding up to 10,000 barrels/day of condensate. Lifecycle assessments project Neos will annually divert over 36,000 tonnes of plastic waste annually and reduce approximately 51,000 tonnes of CO₂e, comparable to removing over 11,000 cars from roads each year. When fully operational, the Maximus facility is expected to deliver GHG reductions of more than 350,000 tonnes of CO₂e annually, significantly contributing to Canada's environmental goals. Alberta Innovates Grant Supports Technology Optimization In April 2025, PlasCred received a $500,000 non-dilutive grant from Alberta Innovates, Alberta's leading innovation funding agency, in collaboration with the University of Calgary's Centre for Advanced Polymers and Nanotechnology. The ongoing research focuses on enhancing product quality and energy efficiency of PlasCred's patent-pending catalytic pyrolysis process, directly benefiting the upcoming commercialization at the Neos facility. Project Financing and Execution Roadmap The Neos facility requires approximately CAD $25 million for construction and commissioning. PlasCred is actively pursuing a blended financing strategy that includes non-dilutive government grants, senior project-level debt, and strategic equity investments from industry partners. The Company is in advanced discussions with both capital and debt providers and anticipates finalizing the remaining components of the funding package ahead of the planned construction start in Q1 2026. While positive progress has been made, the Company notes that construction remains contingent to securing the full financing required. The company's executive team brings significant expertise to ensure effective execution. CEO Troy Lupul has successfully scaled multiple industrial companies, and CTO Dr. Wayne Monnery possesses over 30 years' experience in fluid processing and catalyst optimization, essential for advancing PlasCred's technological and operational milestones. 2024 Financial Summary As a pre-commercial company, PlasCred reported no revenue and incurred a net loss of CAD $3,175,785 for the year, reflecting planned investments in engineering, pilot operations, permitting, and commercial development. At year-end, total assets were CAD $851,757. The company had 70.8 million shares outstanding as of December 31, 2024. Full audited financial statements and MD&A are available on PlasCred's website and SEDAR+. Operational Results For the 12 months ending December 31 st , 2024, PlasCred reported the following: Net loss from operations: $(3,175,785) Basic and diluted loss per common share: $(0.05) Comparatively, for the year ending December 31 st , 2023 , 2023 Net loss from operations: $(3,092,996) Basic and diluted loss per common share: $(0.07) Financial Position as of December 31 st , 2024: Net current assets: $68,612 Total assets: $851,757 including our Primus facility Current liabilities: $ 1,399,511 Total liabilities and shareholders' equity: $851,757 Shares Outstanding: The company common shares outstanding totaled 70,780,636 as of December 31 st 2024. Subsequent event: In May 2025 the company closed a private placement for $452,500. 2025 Outlook - Transitioning to Execution Phase With 100% of Neos' planned output secured under a long-term offtake agreement, all Renewable Green Condensate™ will be delivered through PlasCred's Global Commodities Company ('GCC') partner into global markets for use in virgin plastic production. This agreement provides long-term revenue visibility and reinforces PlasCred's role as a key upstream contributor to the global circular plastics economy. In the year ahead, PlasCred's priority is to secure final project financing and commence construction of the Neos facility at CN Rail's Scotford Yard. The Company will also finalize long-term feedstock supply agreements and advance integrated logistics planning with CN Rail, which is positioned to support both inbound plastic waste and outbound product shipments. The near-term objective is to bring Neos into profitable, cash-flow-generating operations, establishing a strong commercial foundation for scaling into the larger Maximus platform. 'With completed engineering, secured offtake, and permitting in advanced stages, we are well-prepared for full-scale execution,' Lupul concluded. 'PlasCred is positioned to deliver significant environmental and economic impacts as we build Canada's industrial-scale circular infrastructure.' 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 circular plastics economy. For further information on PlasCred, visit our website at ON BEHALF OF THE BOARD Troy Lupul - President & CEO Contact Information For more information please contact: PlasCred Circular Innovations Inc. Investor Relations Email: [email protected] 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 . 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. The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release. To view the source version of this press release, please visit
The Market Online
22-05-2025
- Business
- The Market Online
Turning Plastic Waste into a Commercial-Grade Renewable Green Condensate
PlasCred Circular Innovations is turning plastic garbage into a commercial-grade product — and doing it in a way that challenges how we think about recycling. Lyndsay Malchuk recently caught up with President and CEO Troy Lupul, to spotlight the who, what and how it's all possible. The following is a transcription of the above video, and The Market Online has edited it for clarity . Lyndsay: The first question is, you know, your tech turns mixed plastic waste, really the things that nobody wants, into something petrochemical giants are eyeing. Now, is this just better PR for plastic or are you actually changing the game? Troy: No, we are a real game changer. What we primarily focused on in the beginning for the evolution of plastic credits, which is PlasCred, what we wanted to do is focus on plastic that will never be recycled. Stuff that'll definitely land in the landfill or incinerated or god forbid, the ocean. So, what we've been able to do is focus in on plastics that were just basically difficult, like your Tesla dashboard, your pen, your glasses, your medical waste. We really focused in on things that were not being recycled. So, it is a game changer. Lyndsay: Your process converts up to 80% of landfill bound plastics into renewable green condensate. So why hasn't anyone else done this and what's stopping the oil majors from just copying you? Troy: Well, that's a simple question. Most majors like Shell and Exxon and some of the bigger producers that make plastic as well as do crack ethane, they're not aggregators of plastic. They're not garbage people. They're not going to go out and do dumpster diving and chase. It's not in their mandate or their core competency. So realistically, they build refining capabilities. They're not into, even though they make the virgin feedstock, plastic, they're not aggregators of plastic. And that's where we've created a huge gap between the oil and gas world and the plastic world. Lyndsay: Why don't we talk about your pilot. The, the Primus pilot has been running for two years now. So what have you learned and really what steps are the next steps to scaling the operation? Troy: That's one of the expertise because we are, you know, our DNA is hydrocarbons and we're in Calgary and we've got a lot of phenomenal talent here. What we've been able to achieve is what I'm going to say, a very large pilot plant that's very scalable. And what we wanted to do is de-risk it for the investment community, is to allow ourselves to build a big enough pilot plant, which we call Primus, and then be able to scale it to the 500 barrels a day, which will be our next phase. Lyndsay: Let's talk CN Railroads, they don't usually bet on early stage cleantech, so what's the real value proposition you sold them on and really how critical is this partnership to scaling nationally? Troy: Well, when we look at plastics as a whole in North America we needed to have a backbone. And we took a page out of Jeff Bezos, logistics, logistics, logistics. And one of the unique features about CN, it's really driven by them, is the fact that, as you know, in North America, most of our goods come from the west coast, go to Chicago, go to Toronto, and there's a lot of empty sea container boxes sitting there as liabilities sitting in these yards doing nothing. So what we wanted to do is take advantage of that backhaul, and this is a crown jewel in our story. We have a competitive advantage to get huge volumes of feedstock in these empty sea containers and backhaul them. Instead of hauling an empty sea container back to Vancouver or Prince Rupert or to Newport Beach, we can actually fill it up with waste plastic, bring it to the best place in the world, which is Fort Saskatchewan to face change that feedstock into a renewable molecule. And that's a huge back haul story for CN. So CN has a been a phenomenal champion of us and we couldn't build this big of a plant without them. So, we're super excited for them as a partner. Lyndsay: You've recently actually also signed a five year agreement with a global commodities company. Now, Troy, that's big, but what happens if they like your product and they don't like your price? Are you building a business model or just hoping for a buyout? Troy: No, we are here for the long term. We have built a molecule, a renewable molecule that is repurposed back. And that's one of the things that we're doing differently, is that we are creating a renewable molecule. And by creating a renewable molecule, it can go into all these petrochemical companies around North America. We're building it and we're not making transportation fuel. We're not doing anything silly like that. All we're doing is taking the worst grade of plastic efficiently, bringing it back and taking advantage of the billions of dollars worth of infrastructure in North America that's already built and repurposing that molecule to basically go back into making other building blocks of plastic. So think of it as advanced chemical recycling. Advanced recycling that is done at a large scale, takes advantage of a huge problem. The future looks incredibly bright for us. We're super excited about building our first phase, which is Neos 500 barrel a day system. Lyndsay: This is such an innovative thing that you've done, and I'm really actually truly surprised that no one's thought about this before. The simple things like the highlighter we use, like you said, the pen, the parts of the EV cars or whatever that nobody's thinking about what happens after. Troy: The carpet you're walking on right now, your television set, these are the things that we as a human species consume every day for plastics. And I know governments are trying, but we are the real outlet. Like we needed to create this advanced recycling capability because we could throw all the legislation at it you want, and straws well, that's pretty simplified. I mean, that really doesn't move the needle. The real plastics are the things that don't get caught. We're talking like medical waste. We're talking agricultural waste. We're talking things that are ending up in the ocean. And if you look at it, we are a type of species that needs plastic. Our planes are made from it. Our cars, our computers, our lifestyle. So we need to come in with a real advanced and basically we're all we're doing is we're taking and pushing away the virgin feedstock. So instead of drilling, fracking and going after that virgin feedstock that the petrochemical companies need, we're basically offsetting that virgin feed stock, which gives a reduction in CO2 by about 92%. So that's a real impact that I can actually show you physically and also show you what we're redoing for a renewable molecule. Lyndsay: I know that we just have a little bit of time left, but we spoke a little bit about this last time off camera. I want to know what got you into this. Troy: My background is water treatment, and when I got into doing what is called removing microplastics from water, what I couldn't understand was the reject stream or basically once you remove the plastic, it went back into the water again. So why would you clean the water and send it back? And one of the things, using my own funds, I went around the world and I couldn't figure out why this was not working. And what you saw in life is that people think that you can grind plastic and reuse it. It doesn't work that way when you have cross contamination because there's so many species of plastic. So when you're sitting on a Boeing plane or an Airbus, the back of that seat plastic is so much different than your pen. Your computer screen is much different than what you have as a kid's toy. So, when you co-mingle those species of plastic, they're unrecyclable, they're just too much to sort out and grind. Whereas what we've done is we've basically have created a funnel where we can take all species of plastics no matter what we use on terra firma, and we can put that back to original Mother Earth molecule. And that happened because we've got the skillset here. We've got this incredible talent pool in our own country and in Alberta where we build these complex refineries. And a lot of it leads to, what I would say is much more complicated problems like taking sulfur out of gas, Sag-D thermal. So we took all those talents and we applied it to this problem, and that's why we've been so successful compared to anybody else in the world. A lot of petrochemical companies want a renewable molecule. They have an ethical choice. If I'm going to make billions of tons of plastic and sell it to, Ford, GM, all the automotive, medical, I need a recycling story. But I can't do that with mechanical guys. They're not big enough and the logistics isn't there. Here we've got a backbone with CN, and now we can create a renewable molecule that takes advantage of North America's infrastructure, which is billions of dollars worth of refining capacity that can offset virgin feed stock and repurpose it back into plastic again. So, think of me as an above ground oil company. I'm drilling into an above ground oil field. Lyndsay: So perfectly put. Now, you've listened, you've experienced things firsthand, and then you built that bridge, which is such a huge step for you. And I'm so happy that you were able to come on and just break this all down for us, literally. Troy: Thank you. And the goal here is we're we've got a good team. We've got good pedigree in this. We've all been into the bigger projects, but I'm super excited about this company because it does make an impact. You can actually visually see it, you can actually see different species of plastic coming out of the ocean. We can two phase that back to a renewable molecule and that's what's really gratifying. Whereas, you know, other things are kind of greenwashing, whereas here it's got a really big impact. You can actually physically see it. You can PlasCred Circular Innovations Inc. on the CSE under the ticker symbol PLAS and their website is Join the discussion: Find out what everybody's saying about this stock on the PlasCred Circular Innovations investor discussion forum, and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Associated Press
08-04-2025
- Business
- Associated Press
PlasCred Circular Innovations Inc. Announces Alberta Innovates Funding Grant
Calgary, Alberta--(Newsfile Corp. - April 8, 2025) - PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) (the 'Company' or 'PlasCred'), a transformative leader in the advanced plastic waste recycling sector, is pleased to announce that Alberta Innovates has approved $500,000 in funding to support continued research and development aimed at enhancing the quality and consistency of its Renewable Green Condensate™. The project will be conducted in collaboration with the University of Calgary's Centre for Advanced Polymers and Nanotechnology, led by Dr. Uttandaraman Sundararaj. The research will focus on refining catalyst optimization, modeling the fluid properties of liquid polymers, improving polymer breakdown efficiency, and refining production processes to support PlasCred's Neos and Maximus commercial advanced recycling facilities. ' 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 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.
