PlasCred's $8.5M Financing Brings Scalable Circular Plastics Platform Closer to Reality

PlasCred Circular Innovations Inc. has secured a non-binding term sheet from the Business Development Bank of Canada for up to $8.5 million in senior debt financing to accelerate construction of its Neos commercial recycling facility. Combined with a $5 million non-dilutive grant from Emissions Reduction Alberta and $500,000 in R&D funding from Alberta Innovates, the company now has more than half of its targeted $25 million capital package committed—a significant validation for its advanced plastic-to-naphtha conversion technology.

How PlasCred’s Technology Creates Value

At its core, PlasCred operates a dual-catalytic pyrolysis platform that transforms post-consumer plastic waste into a circular feedstock. The Neos facility, strategically positioned at CN Rail’s Scotford Yard in Fort Saskatchewan, is engineered to process approximately 100 metric tonnes of waste plastic daily, converting it into 500 barrels of Renewable Green Condensate™—a low-sulphur, low-carbon naphtha that serves as virgin plastic production input.

The environmental impact is substantial: the facility is forecast to divert roughly 36,500 tonnes of plastic waste annually while avoiding 51,000 tonnes of CO₂e emissions through displacement of traditional virgin fossil feedstocks and conventional disposal pathways. These figures underscore why circular plastic recycling has become critical infrastructure in North America’s transition toward climate-positive manufacturing.

Revenue Model Built on Long-Term Contracts

What distinguishes PlasCred’s approach is its secured revenue stream. The company has locked in a five-year offtake agreement with a Global Commodities Company at $120 per barrel inclusive of freight—providing predictable cash flow rather than exposure to spot commodity volatility. This contractual stability differentiates PlasCred from speculative recycling ventures and validates market demand for its Renewable Green Condensate™.

From Pilot Success to Commercial Scale

The Neos facility builds on more than 24 months of continuous pilot-scale validation at PlasCred’s Primus unit in Calgary. Construction is targeted to commence in Q1 2026 pending final financing closure, with commissioning expected later in 2026. This timeline reflects disciplined project management rooted in proven operational data.

Scaling to Maximus and Beyond

The Neos facility functions as a proof-of-concept for PlasCred’s broader vision: the Maximus platform, co-located at the same Scotford Yard site. Maximus is designed to launch at 400 tonnes per day capacity (2,000 barrels daily) and scale to 2,000 tonnes per day (10,000 barrels daily) through phased deployment. This modular architecture positions the platform for replication across North America—converting regional waste streams into circular feedstock at scale.

AI-Driven Operations and Compliance

Neos integrates Palantir Foundry, an industrial AI platform that captures real-time data on feedstock composition, facility performance, and product quality. This digital infrastructure enables auditable lifecycle assessments, Extended Producer Responsibility (EPR) compliance tracking, GHG emissions verification, and plastic-credit issuance—transforming operational data into environmental and regulatory assets.

Strategic Partnerships Anchor Execution

PlasCred’s execution model leverages strategic partnerships with CN Rail for integrated logistics, Palantir Technologies for operational intelligence, the Government of Alberta for policy alignment, and Fibreco Export Inc. for supply chain integration. Project fabrication is supported by Alberta-based vendors, embedding an Alberta-first deployment model designed for scalability.

The financing package, combined with pilot validation and locked-in revenue contracts, positions PlasCred as a credible player in the advanced plastic recycling infrastructure buildout now underway across North America.