Welcome to our dedicated page for PlasCred Circular Innovations news (Ticker: MGPRF), a resource for investors and traders seeking the latest updates and insights on PlasCred Circular Innovations stock.
PlasCred Circular Innovations Inc. (MGPRF) is a Canadian clean technology company focused on advanced plastic recycling, with shares also listed as PLAS on the Canadian Securities Exchange and XV2 on the Frankfurt Stock Exchange. This news page aggregates company announcements and market updates related to PlasCred’s efforts to convert hard-to-recycle plastic waste into Renewable Green Condensate™, a circular naphtha feedstock for virgin plastic production.
Readers can find coverage of PlasCred’s progress on its Neos commercial facility at CN Rail’s Scotford Yard in Fort Saskatchewan, Alberta, along with updates on the larger proposed Maximus platform. News items include details on project milestones, lifecycle impact projections for plastic waste diversion and CO₂e reductions, and the company’s use of proprietary dual catalytic pyrolysis technology.
PlasCred’s disclosures also highlight financing and partnership developments, such as non-dilutive grants from Emissions Reduction Alberta and Alberta Innovates, a non-binding senior debt term sheet from the Business Development Bank of Canada, and non-brokered private placements. Announcements describe strategic relationships with CN Rail, Palantir Technologies Inc., Fibreco Export Inc., the Government of Alberta, and a Global Commodities Company that has signed a five-year offtake agreement for all Neos production.
In addition, the news flow covers PlasCred’s participation in the Business Coalition for a Global Plastics Treaty and its research collaborations with the University of Calgary’s Centre for Advanced Polymers and Nanotechnology. Investors and observers can use this page to follow how PlasCred reports on its transition from pilot-scale validation at the Primus facility to planned commercial deployment, as well as its role in the broader circular plastics economy.
PlasCred Circular Innovations, a leader in advanced plastic waste recycling, has announced significant updates to its private placement offering. The company has doubled the offering size from $500,000 to $1,000,000 due to strong investor interest.
Key details of the amended offering include:
- Up to 20 million units priced at $0.05 per unit
- Each unit includes one common share and one purchase warrant
- Warrants exercisable at $0.07 per share for 36 months
- First closing scheduled for May 1, 2025, issuing 9,050,000 units for $452,500
The funds will support several strategic initiatives:
- Construction of the Neos facility
- Detailed engineering and R&D for process optimization
- Deposits on long-lead equipment
- Marketing expansion
- Working capital needs
The private placement requires regulatory approvals, including CSE approval, and securities will have a four-month-plus-one-day hold period.
PlasCred Circular Innovations (CSE: PLAS) has announced a strategic non-brokered private placement offering to raise up to $500,000 through the issuance of 10,000,000 units at $0.05 per unit. Each unit comprises one common share and one warrant, with each warrant allowing the purchase of an additional common share at $0.07 for 36 months following the closing date.
The proceeds will fund key business initiatives, including:
- Detailed engineering for the Neos facility
- R&D efforts for process optimization
- Deposits on long-lead equipment
- General corporate purposes
The offering is expected to close around April 28th, 2025, subject to regulatory approvals including CSE approval. Securities issued will have a four-month-plus-one-day hold period.
PlasCred Circular Innovations (CSE: PLAS) has secured a $500,000 funding grant from Alberta Innovates to enhance its Renewable Green Condensate™ technology. The research will be conducted with the University of Calgary's Centre for Advanced Polymers and Nanotechnology, focusing on catalyst optimization and production process refinement.
The company's pilot facility, Primus, has been operational since May 2023, demonstrating successful conversion of waste plastics into high-value condensate. PlasCred plans two facilities at CN Rail Scotford Yard: Neos, processing 100 metric tonnes daily to produce 500 barrels of condensate, and Maximus, initially handling 400 metric tonnes daily for 2,000 barrels, scalable to 2,000 metric tonnes producing 10,000 barrels daily.
The company has secured a five-year offtake agreement with a Global Commodities Company at CAD $120.00 per barrel for all Neos facility production, with first refusal rights on Maximus volumes.
PlasCred Circular Innovations (CSE: PLAS) has signed a Definitive Agreement with a Global Commodities Company for the long-term purchase of Renewable Green Condensate from its proposed Neos facility near Fort Saskatchewan, Alberta. The agreement sets a fixed price of $120.00 CAD per barrel for five years with a renewal option.
The Neos facility will process 100 metric tonnes of plastic waste daily, producing approximately 500 barrels per day of condensate. The company also plans to develop the Maximus facility in three phases, ultimately reaching a capacity of 10,000 barrels per day and processing up to 2,000 metric tonnes of plastic waste daily.
The agreement includes a right of first refusal for GCC to purchase additional production from both facilities. CN Rail will provide logistics support, while Palantir will optimize operations through its AI-powered Foundry software.
PlasCred Circular Innovations, a leader in advanced plastic waste recycling, has announced a stock option grant of 3,650,000 options to its directors, officers, staff, and consultants. The options are priced at $0.05 per common share with a 5-year exercise period. The vesting schedule is structured with one-third vesting immediately, another third after six months, and the final third after 12 months from the grant date.
PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) has announced the first tranche of its Equity Growth Facility. The company closed an Initial Subscription on October 4th, 2024, with an arm's length institutional investor agreeing to subscribe for 739,120 common shares at a price of $0.0668 per share. This is part of an equity facility with a principal amount of up to CAD$10,000,000.
The proceeds from this Initial Subscription will be used for working capital. The subscription followed a 30-day Pricing Period that began after PlasCred submitted a Capital Call on July 4, 2024. The securities issued are in accordance with ASC Rule 72-501 and are not subject to a hold period. They are not registered under the U.S. Securities Act and cannot be offered or sold within the United States without registration or an applicable exemption.
PlasCred Circular Innovations Inc. (CSE: PLAS) has announced significant progress in its plastic waste upcycling operations. The company's Primus pilot facility in Calgary has achieved liquid yield rates of up to 80% renewable green condensate. PlasCred is now advancing its PlasCred Neos facility, designed to produce 300 barrels of renewable green condensate and upcycle 60 tonnes of plastic waste daily. A FEED study for Neos is underway, expected to complete by early Q4 2024.
The company reported financial results for Q2 2024, with a net loss of $(1,339,447) for the six months ending June 30, 2024, compared to $(696,432) for the same period in 2023. As of June 30, 2024, PlasCred had total assets of $1,541,196 and 62,471,604 common shares outstanding.
PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2), a leader in plastic waste upcycling, has announced the first tranche of its CAD$10 million Equity Growth Facility. An institutional investor has agreed to subscribe for 739,120 common shares at $0.0668 per share, expected to close by August 23, 2024. The company will also issue 2,050,000 Initial Warrants at $0.0767 and 2,050,000 Draw Down Warrants at $0.0735. A $300,000 commitment fee will be paid in cash or shares. The securities are issued under ASC Rule 72-501 and are not subject to a hold period.
PlasCred Circular Innovations has reported its Q1 2024 results, highlighting strategic partnerships and financial outcomes. The company announced a Growth Equity Agreement with Nimbus Capital, committing up to CAD $10M to fund various projects and operational needs. A significant milestone was the commissioning of the PlasCred Primus pilot plant with an 80% liquid yield, and the development of the Neos facility, expected to produce 300 barrels of green condensate and upcycle 45 tonnes of plastic waste daily. PlasCred's Q1 2024 operational results showed a net loss of $(662,689) with basic and diluted loss per share at $(0.01), compared to a net loss of $(283,161) in Q1 2023. Current assets are at $1,007,117, with total liabilities and shareholders' equity at $1,859,651. The company aims to scale its operations with strategic partnerships involving CN Rail and Palantir Technologies.
Summary not available.