PlasCred Circular Innovations Inc. Announces Alberta Innovates Funding Grant
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) ha ottenuto un finanziamento di 500.000 dollari da Alberta Innovates per migliorare la sua tecnologia Renewable Green Condensate™. La ricerca sarà condotta in collaborazione con il Centro per i Polimeri Avanzati e la Nanotecnologia dell'Università di Calgary, concentrandosi sull'ottimizzazione dei catalizzatori e sul perfezionamento del processo produttivo.
La struttura pilota dell'azienda, Primus, è operativa dal maggio 2023, dimostrando la conversione riuscita di plastica di scarto in condensato di alto valore. PlasCred prevede di costruire due impianti presso il CN Rail Scotford Yard: Neos, che tratterà 100 tonnellate metriche al giorno per produrre 500 barili di condensato, e Maximus, inizialmente in grado di gestire 400 tonnellate metriche al giorno per 2.000 barili, scalabile fino a 2.000 tonnellate metriche producendo 10.000 barili al giorno.
L'azienda ha siglato un contratto di fornitura di cinque anni con una Global Commodities Company a CAD $120,00 per barile per tutta la produzione dell'impianto Neos, con diritti di prelazione sui volumi di Maximus.
PlasCred Circular Innovations (CSE: PLAS) ha conseguido una subvención de financiación de $500,000 de Alberta Innovates para mejorar su tecnología Renewable Green Condensate™. La investigación se llevará a cabo en colaboración con el Centro de Polímeros Avanzados y Nanotecnología de la Universidad de Calgary, enfocándose en la optimización de catalizadores y el perfeccionamiento del proceso de producción.
La instalación piloto de la empresa, Primus, ha estado operativa desde mayo de 2023, demostrando una conversión exitosa de plásticos de desecho en condensado de alto valor. PlasCred planea construir dos instalaciones en CN Rail Scotford Yard: Neos, que procesará 100 toneladas métricas diarias para producir 500 barriles de condensado, y Maximus, que inicialmente manejará 400 toneladas métricas diarias para 2,000 barriles, escalable a 2,000 toneladas métricas produciendo 10,000 barriles diarios.
La empresa ha asegurado un contrato de compra de cinco años con una Global Commodities Company a CAD $120.00 por barril para toda la producción de la instalación Neos, con derechos de preferencia sobre los volúmenes de Maximus.
PlasCred Circular Innovations (CSE: PLAS)는 Alberta Innovates로부터 500,000달러의 자금 지원을 확보하여 Renewable Green Condensate™ 기술을 향상시키고 있습니다. 이 연구는 캘거리 대학교의 고급 폴리머 및 나노기술 센터와 협력하여 촉매 최적화 및 생산 공정 개선에 중점을 두고 진행됩니다.
회사의 파일럿 시설인 Primus는 2023년 5월부터 운영되고 있으며, 폐플라스틱을 고부가가치 응축수로 성공적으로 전환하는 것을 보여주고 있습니다. PlasCred는 CN Rail Scotford Yard에 두 개의 시설을 계획하고 있습니다: Neos, 하루에 100톤의 플라스틱을 처리하여 500배럴의 응축수를 생산하며, Maximus, 처음에는 하루에 400톤을 처리하여 2,000배럴을 생산하고, 2,000톤으로 확장하여 하루에 10,000배럴을 생산할 수 있습니다.
회사는 5년간의 구매 계약을 글로벌 원자재 회사와 체결하여 CAD $120.00 per barrel의 가격으로 Neos 시설의 모든 생산량을 확보하였으며, Maximus의 물량에 대한 우선 구매권을 보유하고 있습니다.
PlasCred Circular Innovations (CSE: PLAS) a obtenu une subvention de financement de 500 000 $ d'Alberta Innovates pour améliorer sa technologie Renewable Green Condensate™. La recherche sera réalisée en collaboration avec le Centre des polymères avancés et de la nanotechnologie de l'Université de Calgary, en se concentrant sur l'optimisation des catalyseurs et le perfectionnement du processus de production.
La structure pilote de l'entreprise, Primus, est opérationnelle depuis mai 2023, démontrant la conversion réussie de plastiques de déchets en condensat de grande valeur. PlasCred prévoit de construire deux installations au CN Rail Scotford Yard : Neos, qui traitera 100 tonnes métriques par jour pour produire 500 barils de condensat, et Maximus, qui traitera initialement 400 tonnes métriques par jour pour 2 000 barils, extensible à 2 000 tonnes métriques produisant 10 000 barils par jour.
L'entreprise a signé un contrat d'achat de cinq ans avec une Global Commodities Company à CAD 120,00 $ par baril pour toute la production de l'installation Neos, avec des droits de premier refus sur les volumes de Maximus.
PlasCred Circular Innovations (CSE: PLAS) hat eine Finanzierungszusage über 500.000 Dollar von Alberta Innovates erhalten, um seine Renewable Green Condensate™-Technologie zu verbessern. Die Forschung wird in Zusammenarbeit mit dem Zentrum für fortgeschrittene Polymere und Nanotechnologie der Universität Calgary durchgeführt, wobei der Schwerpunkt auf der Optimierung von Katalysatoren und der Verfeinerung des Produktionsprozesses liegt.
Die Pilotanlage des Unternehmens, Primus, ist seit Mai 2023 in Betrieb und zeigt die erfolgreiche Umwandlung von Abfallkunststoffen in hochwertigen Kondensat. PlasCred plant zwei Anlagen im CN Rail Scotford Yard: Neos, die täglich 100 metrische Tonnen verarbeitet, um 500 Fässer Kondensat zu produzieren, und Maximus, die zunächst täglich 400 metrische Tonnen für 2.000 Fässer verarbeitet, skalierbar auf 2.000 metrische Tonnen, die täglich 10.000 Fässer produzieren.
Das Unternehmen hat einen Fünfjahresvertrag mit einem Global Commodities Company zu CAD $120,00 pro Fass für die gesamte Produktion der Neos-Anlage gesichert, mit Vorkaufsrechten auf die Volumina von Maximus.
- Secured $500,000 research grant from Alberta Innovates
- Five-year offtake agreement at CAD $120/barrel for all Neos facility production
- Proven technology with operational pilot facility since May 2023
- Scalable production capacity up to 10,000 barrels per day at Maximus facility
- Strategic location in Alberta's Industrial Heartland with existing infrastructure
- Commercial facilities Neos and Maximus not yet operational
- Significant capital investment required for facility construction and scale-up
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
"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
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.
For further information on PlasCred, visit our website at www.PlasCred.com
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
Email: IR@PlasCred.com
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.
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 https://www.newsfilecorp.com/release/247577
FAQ
What is the production capacity of PlasCred's (PLAS) planned Neos and Maximus facilities?
What is the value of the Alberta Innovates funding grant received by PlasCred (PLAS)?
What are the terms of PlasCred's (PLAS) offtake agreement for Renewable Green Condensate?
When did PlasCred's (PLAS) Primus pilot facility begin operations?
