PlasCred secures $500,000 funding for recycling innovations

In Calgary, Alberta, on April 8, 2025, PlasCred Circular Innovations Inc., a leader in the plastic waste recycling sector, announced that Alberta Innovates has granted $500,000 to support their research and development efforts. The funding is specifically aimed at improving the quality and consistency of PlasCred's proprietary Renewable Green Condensate™. This research will involve advancing catalyst optimization, modeling fluid properties of liquid polymers, and enhancing polymer breakdown efficiency, which are essential steps for PlasCred’s commercial recycling facilities named Neos and Maximus. Since May 2023, PlasCred has operated a pilot-scale unit called Primus, which has successfully validated the conversion of waste plastics into high-value Renewable Green Condensate™. The proof-of-concept results obtained from the Primus unit are now poised to inform further optimization of catalyst formulations and production processes. As a part of their scalability strategy, PlasCred plans to co-locate its Neos facility within Alberta’s Industrial Heartland, processing 100 metric tonnes of plastic waste daily and generating around 500 barrels of Renewable Green Condensate™. This strategic location benefits from existing infrastructure and rail connectivity, enhancing logistical efficiency while aligning with Alberta's goals for a circular economy. The facility will also have a guaranteed buyer in GCC, which will contractually purchase all produced condensate at a fixed price of $120.00 CAD per barrel, providing PlasCred with reliable revenue assurance over the next five years. The recent funding from Alberta Innovates, alongside PlasCred’s partnerships with key industrial players like CN Rail and Palantir Technologies, solidifies the company's vision of transitioning from pilot-scale success to large-scale operations, emphasizing their commitment to sustainability and innovation in tackling the challenges of plastic waste.