PlasCred Circular Innovations Inc. Announces Non-Dilutive Funding to Advance the Neos Facility

Executive Summary

• PlasCred Circular Innovations Inc. secured advisory services and up to C$2.35 million from the National Research Council of Canada Industrial Research Assistance Program (NRC‑IRAP) to advance its commercial “Neos” plastic‑recycling facility.
• The Neos plant is designed to process ~100 metric tonnes of mixed plastic waste per day into refined hydrocarbon condensate, scaling up from the pilot “Primus” unit.
• Previously announced C$5.0 million grant from Emissions Reduction Alberta will become available once construction commences; PlasCred continues to seek additional funding for the project.

Key Details

• Funding Source: NRC‑IRAP (National Research Council of Canada Industrial Research Assistance Program).
• Amount: Up to C$2.35 million in advisory services and cash support.
• Use of Proceeds: Engineering, design, staffing, and operating activities for the Neos commercial facility.
• Neos Facility Capacity: ~100 metric tonnes/day of mixed plastic waste → refined hydrocarbon condensate.
• Project Status: Design phase; will become the commercial‑scale version of the pilot “Primus” plant.
• Additional Government Funding: Previously announced C$5.0 million grant from Emissions Reduction Alberta (ERA) to be released upon construction start.
• Funding Gap: Company continues to pursue remaining capital required for Neos construction, including a PwC‑led financing engagement.

Notable Quotes

• “We are pleased to receive NRC‑IRAP support, which will accelerate the commercial development of our Neos facility and bring us closer to delivering large‑scale advanced plastic recycling solutions,” – Troy Lupul, President & CEO.