Plastics recycling in Canada is gaining renewed momentum as PlasCred Round Improvements Inc. has secured a non-binding time period sheet from the Enterprise Improvement Financial institution of Canada (BDC) for as much as $8.5 million in senior debt financing.
The transfer follows a $5 million grant from Emissions Discount Alberta (ERA) and $500,000 in R&D help from Alberta Innovates, marking regular progress towards building of the corporate’s first commercial-scale facility.
PlasCred’s deliberate Neos facility in Fort Saskatchewan is designed to course of 100 metric tonnes of post-consumer plastic waste per day, changing it into about 500 barrels of Renewable Inexperienced Condensate
. This low-sulphur, low-carbon naphtha substitute is meant as a feedstock for virgin plastic manufacturing, addressing each plastic waste diversion and decarbonization of petrochemical provide chains.
The plant’s location at CN Rail’s Scotford Yard allows streamlined logistics, whereas lifecycle assessments forecast annual avoidance of 51,000 tonnes of CO₂-equivalent emissions. All manufacturing is secured beneath a five-year offtake settlement with a International Commodities Firm at $120 per barrel together with freight, offering a predictable income baseline.
Financing and Development Roadmap
The Neos facility carries an estimated $25 million capital value. With ERA’s grant and BDC’s proposed time period sheet, greater than half of the required capital is recognized. Fairness discussions stay ongoing, with building focused for early 2026 and commissioning anticipated later that yr.
BDC’s time period sheet is non-binding and topic to additional due diligence, approvals, and definitive authorized agreements. Whereas this doesn’t symbolize a ultimate dedication, it indicators rising institutional curiosity in scaling Canada’s round financial system infrastructure.
Neos builds on over two years of steady operations at PlasCred’s pilot-scale Primus unit in Calgary, the place the corporate refined its patent-pending dual-catalytic pyrolysis course of. The business design emphasizes modularity and replication potential, offering a pathway to PlasCred’s larger-scale Maximus platform.
Maximus, proposed for co-location at Scotford Yard, is initially deliberate at 400 tones per day capability—roughly 2,000 barrels per day of condensate—and will scale as much as 2,000 tones per day and 10,000 barrels per day by means of phased growth.
A distinguishing characteristic of PlasCred’s strategy is its integration of Palantir Foundry, an industrial AI platform. By embedding real-time monitoring of feedstock composition, facility efficiency, and product high quality, the system allows auditable lifecycle assessments, Prolonged Producer Accountability (EPR) compliance, and issuance of plastic credit. This digital infrastructure additionally supplies a full-process digital twin, supporting optimization and clear verification for regulators and prospects.
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