PlasCred Circular Innovations Inc. Announces Alberta Innovates Funding Grant
Summary
"PlasCred is rapidly working on a solution that can reduce the amount of plastic waste ending up in our landfills by turning it back into raw materials that can be used in the petrochemical industry," says Mark Summers, VP Agriculture & Environment at Alberta Innovates. Over the past year, extensive testing on diverse feedstocks has provided critical data on catalyst behavior, polymer breakdown efficiency, and product quality stability. Leveraging the proven results from Primus, this phase will focus on incremental optimization of catalyst formulations and process conditions, further enhancing efficiency, consistency, and energy management, ensuring a smooth transition to full-scale commercial operations. This site provides PlasCred with exceptional infrastructure, robust transportation networks, a favorable regulatory environment, and access to a highly skilled workforce experienced in industrial operations and advanced processing technologies. Under the terms of the agreement, GCC will purchase all Renewable Green Condensate produced at Neos for a fixed price of $120.00 CAD per barrel over a five-year period, with a right of first refusal ("ROFR") on future volumes from PlasCreds Maximus facility.