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PlasCred Circular Innovations Inc. Enters Long-Term Renewable Green Condensate Agreement for PlasCred's Neos Facility
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 ex
About this update from Plascred Circular Innovations Inc
[{"type":"text","content":"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.","length":767,"tagName":"p"},{"type":"text","content":"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 $120.00 CAD per barrel for a term of five years with a renewal option. Additionally, GCC will hold a right of first refusal ("ROFR") to purchase additional production at Neos and production from other plants of the Company, such as Maximus, a plant projected to be co-located with Neos at the CN Scotford site. The contract follows FCA ("Free Carrier") Incoterms, meaning GCC will take custody of the condensate at PlasCred's Neos facility at Scotford and assume responsibility for transportation and associated costs from that point onward. The fixed price and long-term agreement provides PlasCred when operational with enhanced financial stability, allowing more predictable revenue streams as the company scales operations, while underscoring the Company's commitment to sustainability and creating true circularity for plastic waste.","length":1092,"tagName":"p"},{"type":"text","content":"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 ...