PlasCred Circular Innovations Inc. Announces Non-Binding Term Sheet from Business Development Bank of Canada for up to $8.5 Million Building on ERA Grant Support
PlasCred Circular Innovations (CSE: PLAS) has secured a non-binding term sheet from the Business Development Bank of Canada for up to $8.5 million in senior debt financing. This complements a $5.0 million non-dilutive grant from Emissions Reduction Alberta and $500,000 in R&D funding from Alberta Innovates.
The company's planned Neos facility in Fort Saskatchewan will process 100 metric tonnes of post-consumer plastic waste daily, producing 500 barrels of Renewable Green Condensate™. The facility has secured a five-year offtake agreement at $120 per barrel with a Global Commodities Company. The $25 million project is expected to begin construction in Q1 2026, with commissioning later that year.
The facility will divert 36,500 tonnes of plastic waste annually and avoid 51,000 tonnes of CO₂e emissions. PlasCred plans to expand with a larger Maximus facility, scaling up to 2,000 tonnes per day capacity.
PlasCred Circular Innovations (CSE: PLAS) ha ottenuto un term sheet non vincolante dalla Business Development Bank of Canada per un finanziamento senior fino a $8,5 milioni. Questa iniziativa si affianca a una contribuzione non diluitiva di $5,0 milioni da Emissions Reduction Alberta e a $500.000 di finanziamento per R&S da Alberta Innovates.
Lo stabilimento pianificato Neos a Fort Saskatchewan tratterà 100 tonnellate metriche di rifiuto plastico post-consumo al giorno, producendo 500 barili di Renewable Green Condensate™. L’impianto ha siglato un accordo di offtake quinquennale a $120 per barile con una Global Commodities Company. Il progetto da $25 milioni dovrebbe iniziare la costruzione nel primo trimestre del 2026, con avvio della messa in servizio nello stesso anno.
La struttura permetterà di deviare 36.500 tonnellate di rifiuti plastici all’anno ed eviterà 51.000 tonnellate di emissioni equivalenti di CO₂. PlasCred prevede di espandersi con un impianto più grande, Maximus, incrementando la capacità fino a 2.000 tonnellate al giorno.
PlasCred Circular Innovations (CSE: PLAS) ha asegurado una hoja de términos no vinculante del Business Development Bank of Canada para un financiamiento de deuda sénior de hasta $8.5 millones. Esto complementa una subvención no dilutiva de $5.0 millones de Emissions Reduction Alberta y $500,000 en fondos de I+D de Alberta Innovates.
La planta prevista Neos en Fort Saskatchewan procesará 100 toneladas métricas de residuos plásticos posconsumo por día, produciendo 500 barriles de Renewable Green Condensate™. La instalación ha asegurado un acuerdo de offtake por cinco años a $120 por barril con una Global Commodities Company. El proyecto, de $25 millones, comenzaría la construcción en el primer trimestre de 2026, con puesta en marcha más adelante ese año.
La planta desviará 36.500 toneladas de residuos plásticos al año y evitará 51.000 toneladas de emisiones equivalentes de CO₂. PlasCred planea expandirse con una planta mayor, Maximus, alcanzando una capacidad de hasta 2.000 toneladas por día.
PlasCred Circular Innovations (CSE: PLAS)는 캐나다 비즈니스 개발 은행(Business Development Bank of Canada)으로부터 최대 $8.5백만의 선순위 채무에 대한 비구속적 조건표를 확보했습니다. 이는 Emissions Reduction Alberta의 $5.0백만 비희석 보조금과 Alberta Innovates의 연구개발 자금 $500,000을 보완하는 것입니다.
포트 새스커처원에 계획된 Neos 시설은 일일 100톤의 소비 후 플라스틱 폐기물을 처리하여 500배럴의 Renewable Green Condensate™를 생산할 예정입니다. 이 시설은 Global Commodities Company와 배출물 구매 계약(오프테이크)을 5년간 배럴당 $120로 체결했습니다. 총 $25백만 규모의 이 프로젝트는 2026년 1분기에 착공하여 같은 해 말 시운전을 목표로 합니다.
이 시설은 연간 36,500톤의 플라스틱 폐기물을 우회 처리하고 51,000톤의 CO₂e 배출을 회피할 것으로 예상됩니다. PlasCred는 더 큰 Maximus 시설로 확장하여 하루 최대 2,000톤 규모로 증설할 계획입니다.
PlasCred Circular Innovations (CSE: PLAS) a obtenu une feuille de conditions non contraignante de la Business Development Bank of Canada pour un financement par dette senior allant jusqu’à 8,5 M$. Cela complète une subvention non dilutive de 5,0 M$ d’Emissions Reduction Alberta et 500 000 $ de financement R&D d’Alberta Innovates.
L’installation prévue Neos à Fort Saskatchewan traitera 100 tonnes métriques de déchets plastiques post-consommation par jour, produisant 500 barils de Renewable Green Condensate™. L’usine a sécurisé un contrat d’offtake de cinq ans à 120 $/baril avec une Global Commodities Company. Le projet de 25 M$ devrait démarrer les travaux au premier trimestre 2026, avec la mise en service plus tard la même année.
La centrale permettra de détourner 36 500 tonnes de déchets plastiques par an et d’éviter 51 000 tonnes d’émissions équivalentes de CO₂. PlasCred prévoit de s’étendre avec une plus grande installation, Maximus, en augmentant la capacité jusqu’à 2 000 tonnes par jour.
PlasCred Circular Innovations (CSE: PLAS) hat ein unverbindliches Term Sheet von der Business Development Bank of Canada über eine Senior-Darlehensfinanzierung von bis zu $8,5 Millionen erhalten. Dies ergänzt einen $5,0 Millionen nicht verwässernden Zuschuss von Emissions Reduction Alberta sowie $500.000 an F&E-Fördermitteln von Alberta Innovates.
Die geplante Neos-Anlage in Fort Saskatchewan wird täglich 100 metrische Tonnen an post-consumer Kunststoffabfällen verarbeiten und 500 Barrel Renewable Green Condensate™ produzieren. Für die Anlage wurde ein fünfjähriger Offtake-Vertrag zu $120 pro Barrel mit einer Global Commodities Company abgeschlossen. Das $25 Millionen-Projekt soll im ersten Quartal 2026 mit dem Bau beginnen und noch im selben Jahr in Betrieb genommen werden.
Die Anlage wird jährlich 36.500 Tonnen Kunststoffabfälle umleiten und 51.000 Tonnen CO₂e-Emissionen vermeiden. PlasCred plant eine Erweiterung mit einer größeren Maximus-Anlage, die eine Kapazität von bis zu 2.000 Tonnen pro Tag erreichen soll.
- Secured $8.5M potential debt financing from BDC plus $5.5M in non-dilutive grants
- Five-year offtake agreement locked in at $120 per barrel
- Facility will process 100 tonnes of plastic waste daily, avoiding 51,000 tonnes of CO₂e emissions annually
- Strategic location at CN Rail's Scotford Yard with integrated logistics
- Scalable platform with planned expansion to 2,000 tonnes per day capacity
- Term sheet is non-binding and subject to due diligence and approvals
- Project still requires additional equity financing to reach $25M total cost
- Construction not expected to begin until Q1 2026
- Significant capital expenditure required for facility development
Calgary, Alberta--(Newsfile Corp. - September 9, 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 received a non-binding term sheet (the "Term Sheet") from the Business Development Bank of Canada ("BDC") for up to
PlasCred's Neos facility is designed to process approximately 100 metric tonnes of post-consumer plastic waste per day into 500 barrels of Renewable Green Condensate™, a low-sulphur, low-carbon circular naphtha ("Condensate") used as a feedstock for virgin plastic production. Strategically located at CN Rail's Scotford Yard, Neos will divert about 36,500 tonnes of plastic waste annually and is forecast to avoid 51,000 tonnes of CO₂e emissions through lifecycle displacement of virgin fossil feedstocks and traditional disposal methods. All production is secured under a five-year offtake agreement with a Global Commodities Company ("GCC") at
The Neos facility is expected to cost approximately
The non-binding Term Sheet provided by BDC is intended for discussion purposes only. It does not constitute a loan offer or commitment to finance. Any advancement of funds remains subject to, among other things, further due diligence, internal approvals, and negotiation and execution of definitive legal agreements. BDC is not under any obligation to proceed with financing and reserves full discretion to amend or withdraw the terms at any time prior to execution of such definitive agreements.
"This proposed financing represents a critical step toward realizing Alberta's circular plastics economy," said Troy Lupul, President and CEO of PlasCred. "We're pleased to work with BDC to structure a capital-efficient package alongside our ERA support. These combined supports position PlasCred to advance the development of a fully integrated, low-carbon circular solution for plastic waste."
A Fully Integrated Platform for Circular Plastics
Neos is engineered for replication and modular expansion as the commercial foundation for PlasCred's larger-scale Maximus platform. The proposed Maximus facility is designed to launch at approximately 400 tonnes per day and 2,000 barrels per day condensate and scale up to approximately 2,000 tonnes per day and 10,000 barrels per day condensate through phased deployment. Co-located with Neos at CN Rail's Scotford Yard, Maximus will leverage existing enclosed infrastructure, 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. Neos will also integrate Palantir Foundry, an industrial AI platform, to capture real-time data on feedstock composition, facility performance, and product quality. The platform enables auditable lifecycle assessments ("LCA") that verify each tonne of waste plastic is transformed into new plastic, supports Extended Producer Responsibility ("EPR") compliance, tracks GHG emissions and plastic-credit issuance, and builds a digital twin of operations-delivering full-process traceability and AI-optimized decision-making.
With strategic site control, integrated rail logistics, and a five-year contracted revenue stream, PlasCred is advancing a scalable platform for circular plastics infrastructure. Project execution is led by Grey Owl Engineering Ltd., with modular fabrication supported by Alberta-based vendors. This Alberta-first deployment model is purpose-built for replication and growth across North America.
About BDC
The Business Development Bank of Canada ("BDC") is the nation's only bank exclusively dedicated to supporting entrepreneurs. With over 110 business centres across the country, BDC offers financing, venture capital, and advisory services to small and medium-sized enterprises ("SME") in all industries. Its investment arm, BDC Capital, provides equity and customized growth and business transition capital. As a Certified B Corporation, BDC meets high standards of social and environmental performance, accountability, and transparency. Learn more at www.bdc.ca.
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, AI-driven operational intelligence, and stable long-term revenue, while driving measurable environmental impact through large-scale waste diversion, CO₂e reduction, and circular economy leadership.
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.
Investor Relations
Email: IR@PlasCred.com
Forward-looking Statements
Forward-looking statements in this release include, but are not limited to: the timing, scope, and cost of constructing the Neos facility; projected operating performance, revenues, EBITDA, internal rate of return, and payback period; anticipated greenhouse-gas reductions; the availability, terms, and timing of financing; feedstock sourcing, quality, and pricing; regulatory approvals; offtake performance; and the Company's broader commercialization, replication, and expansion plans, including the proposed Maximus facility and any future North American locations. Forward-looking statements are based on management's current assumptions and expectations, which are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Such risks and uncertainties include, without limitation: construction, commissioning, and start-up risks; cost overruns; delays or disruptions in the supply chain; ability to achieve and maintain nameplate capacity at scale; changes in feedstock availability, composition, or pricing; fluctuations in commodity prices and foreign exchange rates; failure of counterparties to perform under offtake, financing, or strategic agreements; changes in applicable laws, regulations, or EPR requirements; inability to secure or maintain permits; adverse changes in market demand for advanced recycling products; evolving ESG reporting standards; technology performance or reliability issues; and general economic, political, and capital market 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 www.sedarplus.ca. 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, circumstances, or otherwise.
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/265399
FAQ
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