Plascred hires PwC Corporate as financial adviser

Executive Summary

• Plascred Circular Innovations Inc. engaged PricewaterhouseCoopers Corporate Finance Inc. as financial adviser for the Neos advanced‑recycling facility capital raise.
• The Neos plant is projected to cost ~$25 million; $5 M non‑dilutive grant secured and a non‑binding $8.5 M senior‑debt term sheet received, indicating >50 % project funding already anchored.
• A five‑year fixed‑price offtake agreement at $120 per barrel for 100 % of Neos production has been signed, providing predictable revenue from day one.

Key Details

• Financial Adviser: PricewaterhouseCoopers Corporate Finance Inc. appointed to lead the capital raise for the Neos facility.
• Facility Capacity: 100 tonnes/day of mixed hard‑to‑recycle plastic waste → circular naphtha (low‑sulphur condensate).
• Environmental Impact: Expected diversion of ~36,500 metric t/yr of plastic waste and elimination of ~51,000 t CO₂e/yr.
• Project Cost: Estimated at $25 million total.
• Funding Secured to Date:
• $5 million non‑dilutive grant from Emissions Reduction Alberta (ERA).
• Non‑binding indicative senior‑debt term sheet for $8.5 million from Business Development Bank of Canada (BDC).
• Offtake Agreement: Five‑year fixed‑price contract at $120 per barrel with a global commodities company, covering 100 % of Neos output.
• Strategic Partners: CN Rail (logistics), Palantri​r Technologies (AI/industrial data platform), Global Commodities Company (offtake).
• Location: CN Rail’s Scotford Yard, Fort Saskatchewan, Alberta – Class I rail access, 200‑car siding, existing utilities.
• Future Expansion: Neos serves as proof‑point for “Maximus” expansion (up to 2,000 t/day, 10,000 bbl/day condensate) at the same site; additional North American locations under consideration.

Notable Quotes

"With key funding anchors already secured and strong strategic partners in place, our focus is now on closing the final tranche of capital and moving Neos into construction," — Troy Lupul, President & CEO.