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.
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Cover Technologies Inc. (CSE: COVE) (OTC: MGPRF) has announced a new phase in producing magnesium metal via Tech Magnesium's Aluminothermic Reduction Process. Following initial promising results in 2019, this next step will be conducted over four months in three stages. The company aims to become the lowest-cost, greenest primary magnesium producer globally. Additionally, Cover is launching a division for non-fungible tokens (NFTs) to enhance its operations and explore various applications beyond commodity minerals.
Cover Technologies Inc. has initiated the development of ElectrumX, a blockchain platform designed for tracking and trading commodity minerals. This project will feature a spot market and integrations with decentralized finance solutions. Steven Dryall, appointed as the new Chief Technology Officer, will lead this initiative following the acquisition of Flurbo Technology. ElectrumX aims to provide enhanced visibility into mineral provenance and streamline transactions with lower fees and faster speeds. The platform is expected to launch in Q2 2022, complementing Cover's current activities in the minerals sector.
COVER TECHNOLOGIES INC. (CSE: COVE) (OTC: MGPRF) has successfully acquired Flurbo, a DeFi blockchain application focused on digital asset management. This acquisition, valued with 5.5 million shares at $0.265 each, aims to enhance Cover's existing magnesium processing business by integrating resource sector logistics and finance. Flurbo's technology promises increased transparency and efficiency in tracking mineral production.
Additionally, Cover has engaged Bello Capital Partners for a three-month digital marketing campaign, for which it will pay $350,000.
Cover Technologies Inc. has finalized an asset purchase agreement for Nifty Technologies' blockchain technology, Flurbo. This acquisition, completed on August 16, 2021, enhances Cover's aim to develop environmentally sustainable magnesium processing technology. By integrating Flurbo, Cover seeks to improve logistics and financing in the resource sector, facilitating mineral production tracking. As part of the deal, Cover will issue 5.5 million shares and potential performance shares based on Flurbo's financial success. Additionally, Dorian Banks has been appointed CEO, succeeding Louie, who has resigned.