PlasCred Circular Innovations Inc. Enters Long-Term Renewable Green Condensate Agreement for PlasCred's Neos Facility
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 (CSE: PLAS) ha firmato un Accordo Definitivo con una Società Globale di Commodities per l'acquisto a lungo termine di Condensato Verde Rinnovabile dalla sua proposta di impianto Neos vicino a Fort Saskatchewan, Alberta. L'accordo stabilisce un prezzo fisso di $120,00 CAD per barile per cinque anni con un'opzione di rinnovo.
Il sito Neos tratterà 100 tonnellate metriche di rifiuti plastici al giorno, producendo circa 500 barili al giorno di condensato. L'azienda prevede anche di sviluppare l'impianto Maximus in tre fasi, raggiungendo infine una capacità di 10.000 barili al giorno e trattando fino a 2.000 tonnellate metriche di rifiuti plastici al giorno.
L'accordo include un diritto di prelazione per GCC per acquistare ulteriore produzione da entrambi gli impianti. CN Rail fornirà supporto logistico, mentre Palantir ottimizzerà le operazioni attraverso il suo software Foundry alimentato da IA.
PlasCred Circular Innovations (CSE: PLAS) ha firmado un Acuerdo Definitivo con una Compañía Global de Commodities para la compra a largo plazo de Condensado Verde Renovable de su propuesta de instalación Neos cerca de Fort Saskatchewan, Alberta. El acuerdo establece un precio fijo de $120.00 CAD por barril durante cinco años con una opción de renovación.
La instalación Neos procesará 100 toneladas métricas de residuos plásticos al día, produciendo aproximadamente 500 barriles por día de condensado. La compañía también planea desarrollar la instalación Maximus en tres fases, alcanzando finalmente una capacidad de 10,000 barriles por día y procesando hasta 2,000 toneladas métricas de residuos plásticos al día.
El acuerdo incluye un derecho de tanteo para que GCC compre producción adicional de ambas instalaciones. CN Rail proporcionará apoyo logístico, mientras que Palantir optimizará las operaciones a través de su software Foundry impulsado por IA.
PlasCred Circular Innovations (CSE: PLAS)는 알버타주 포트 사스카체완 근처에 제안된 Neos 시설에서 재생 가능한 녹색 응축수를 장기적으로 구매하기 위해 글로벌 상품 회사와 최종 계약을 체결했습니다. 이 계약은 5년 동안 $120.00 CAD 배럴의 고정 가격을 설정하며 갱신 옵션이 있습니다.
Neos 시설은 매일 100미터 톤의 플라스틱 폐기물을 처리하여 약 500배럴의 응축수를 생산할 예정입니다. 이 회사는 또한 Maximus 시설을 세 단계로 개발할 계획이며, 궁극적으로 10,000배럴의 용량에 도달하고 하루에 최대 2,000미터 톤의 플라스틱 폐기물을 처리할 것입니다.
이 계약에는 GCC가 두 시설에서 추가 생산을 구매할 수 있는 우선 구매권이 포함되어 있습니다. CN Rail은 물류 지원을 제공하고, Palantir는 AI 기반의 Foundry 소프트웨어를 통해 운영을 최적화할 것입니다.
PlasCred Circular Innovations (CSE: PLAS) a signé un Accord Définitif avec une Société de Matières Premières Mondiale pour l'achat à long terme de Condensat Vert Renouvelable de son installation proposée Neos près de Fort Saskatchewan, Alberta. L'accord fixe un prix fixe de 120,00 CAD par baril pour cinq ans avec une option de renouvellement.
L'installation Neos traitera 100 tonnes métriques de déchets plastiques par jour, produisant environ 500 barils par jour de condensat. L'entreprise prévoit également de développer l'installation Maximus en trois phases, atteignant finalement une capacité de 10 000 barils par jour et traitant jusqu'à 2 000 tonnes métriques de déchets plastiques par jour.
L'accord comprend un droit de premier refus pour que GCC achète une production supplémentaire des deux installations. CN Rail fournira un soutien logistique, tandis que Palantir optimisera les opérations grâce à son logiciel Foundry alimenté par l'IA.
PlasCred Circular Innovations (CSE: PLAS) hat einen endgültigen Vertrag mit einem globalen Rohstoffunternehmen über den langfristigen Kauf von erneuerbarem grünem Kondensat von seiner vorgeschlagenen Neos-Anlage in der Nähe von Fort Saskatchewan, Alberta, unterzeichnet. Der Vertrag legt einen Festpreis von 120,00 CAD pro Barrel für fünf Jahre mit einer Verlängerungsoption fest.
Die Neos-Anlage wird täglich 100 metrische Tonnen Kunststoffabfälle verarbeiten und etwa 500 Barrel pro Tag Kondensat produzieren. Das Unternehmen plant auch, die Maximus-Anlage in drei Phasen zu entwickeln, um letztendlich eine Kapazität von 10.000 Barrel pro Tag zu erreichen und täglich bis zu 2.000 metrische Tonnen Kunststoffabfälle zu verarbeiten.
Der Vertrag umfasst ein Vorkaufsrecht für GCC, um zusätzliche Produktion aus beiden Anlagen zu kaufen. CN Rail wird logistische Unterstützung bieten, während Palantir die Abläufe über seine KI-gestützte Foundry-Software optimieren wird.
- Secured 5-year fixed-price agreement at $120 CAD per barrel, providing stable revenue stream
- Buyer assumes transportation costs (FCA terms)
- Right of first refusal agreement for additional production expansion
- Planned production capacity of 500 barrels/day at Neos facility
- Maximus facility expansion to reach 10,000 barrels/day capacity
- Facilities are still in proposed stage, not yet operational
- Significant capital investment required for multi-phase development
- Revenue generation dependent on successful facility construction and operation
Calgary, Alberta--(Newsfile Corp. - March 24, 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 the signing of a Definitive Agreement (the "Agreement") with a Global Commodities Company ("GCC") for the long-term purchase and sale of Renewable Green Condensate ("Condensate") to be produced at PlasCred's proposed Neos advanced recycling facility, which is expected to be located at CN Rail's Scotford Yard near Fort Saskatchewan, Alberta. This Agreement aligns with PlasCred's mission to revolutionize plastic waste management using its patent-pending technology.
The Neos plant will convert post-consumer plastic waste into valuable products through PlasCred's proprietary, patent-pending process. Under the Agreement, GCC will purchase Condensate produced at Neos at a fixed price of
The proposed Neos and Maximus facilities will be developed in multiple phases to support long term growth. The initial Neos facility is planned to have a production capacity of approximately 500 barrels per day condensate and will process approximately 100 metric tonnes of plastic waste daily. The Maximus facility will significantly expand production, processing an estimated 400 to 2,000 metric tonnes of plastic waste per day. The Maximus plant is planned in three phases: Phase 1 will produce an estimated 2,000 barrels per day condensate, Phase 2 will increase production to roughly 4,500 barrels per day condensate, and Phase 3 will reach a full capacity of around 10,000 barrels per day condensate.
PlasCred's growth is driven by strategic agreements with industry leaders. CN Rail will provide logistics support to ensure the efficient transportation of plastic feedstock and end product logistics. Palantir will enhance supply chain and operational intelligence through its advanced AI-powered Foundry software, optimizing production and distribution.
"CN is proud to partner with PlasCred in advancing sustainable supply chains. By combining our logistics expertise with environmentally responsible initiatives, we will create innovative solutions to drive growth in the circular economy of plastics," said Buck Rogers, Vice-President, Petroleum and Chemicals at CN.
"We are excited about the potential of the proposed Neos and Maximus facilities to revolutionize advanced plastic waste advanced recycling at scale," said Troy Lupul, President and CEO of PlasCred. "This agreement reflects our vision to create a sustainable future, and the development of these facilities is a critical step toward achieving that goal."
The Agreement represents a significant milestone for PlasCred as it continues its journey to becoming a global leader in advanced plastic waste recycling. With its scalable, innovative technology, PlasCred is positioned to play a pivotal role in addressing the global plastic waste crisis. As it expands across North America, the Company will continue partnering with industry leaders to deliver sustainable solutions and drive the circular economy forward.
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., and Fibreco Export Inc. These collaborations not only provide PlasCred with unparalleled operational intelligence and logistics support across North America and globally for the transportation and handling of plastic waste but also ensure consistent long term product purchases strengthening PlasCred's market presence and financial stability.
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
+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/245598
FAQ
What is the price per barrel in PlasCred's (MGPRF) new condensate agreement?
What is the production capacity of PlasCred's (MGPRF) Neos facility?
What is the maximum production capacity of PlasCred's (MGPRF) Maximus facility?
Who are PlasCred's (MGPRF) key strategic partners for the Neos facility?
