PlasCred Circular Innovations
PlasCred Circular Innovations is a Calgary-based advanced recycling company that converts mixed, unsorted post-consumer plastic into refined hydrocarbon condensate via patent-pending catalytic pyrolysis, serving petrochemical manufacturers, EPR-regulated consumer brands, and government feedstock suppliers.
- Company typePublic
- Founded2023
- HeadquartersCalgary, Canada
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What PlasCred Circular Innovations does
PlasCred Circular Innovations Inc. is a Calgary-based, publicly traded (CSE: PLAS, FSE: XV2) advanced recycling company that converts mixed, unsorted, unwashed post-consumer plastic waste into low-sulphur refined hydrocarbon condensate, carbon char, and process gas using a patent-pending three-step catalytic pyrolysis system (thermal liquefaction, controlled degradation vaporization, and dual catalytic upgrading) operating at atmospheric pressure. Its technology stack is wrapped in a Palantir Foundry AI data environment that provides real-time traceability, performance tracking, and infrastructure-grade oversight across CN Rail-integrated logistics, with operations anchored at the Primus pilot plant in Calgary and the planned commercial-scale Neos facility at CN's Scotford Yard in Fort Saskatchewan, Alberta, alongside a future Maximus expansion roadmap.
The company monetizes condensate through long-term offtake contracts (a five-year fixed-price agreement at CAD $120/barrel with a global commodities firm covering 100% of planned Neos production), earns processing/tolling fees from feedstock suppliers such as Circular Materials under Alberta's EPR framework, and generates ancillary revenue from Verra- and SCS-verified plastic credits ($50-$800/tonne) and voluntary carbon credits ($8-$30/tonne, ~$1.5M annual potential at Neos). Customer segments span petrochemical and plastic manufacturers (drop-in feedstock for virgin naphtha replacement), EPR-regulated consumer goods brands seeking verified plastic credits, and government/EPR organizations supplying post-consumer bales. The company has secured approximately CAD $15.85 million in non-dilutive and debt support (ERA, BDC, Alberta Innovates, NRC IRAP) plus CAD $6.68 million in equity, covering more than half of the $25 million Neos capital project, with PwC engaged to lead the remaining capital raise.
PlasCred Circular Innovations firmographics
Firmographics- Name
- PlasCred Circular Innovations
- Legal name
- PlasCred Circular Innovations Inc.
- Website
- https://plascred.com
- Company type
- Public
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- PlasCred Circular Innovations is a Calgary-based advanced recycling company that converts mixed, unsorted post-consumer plastic into refined hydrocarbon condensate via patent-pending catalytic pyrolysis, serving petrochemical manufacturers, EPR-regulated consumer brands, and government feedstock suppliers.
- Ownership category
- akta.pro rank
PlasCred Circular Innovations industry classification
Industry- Product category
- Advanced Plastic Recycling / Cleantech Industrial Infrastructure
- NAICS
- Materials Recovery Facilities (562920), Materials Recovery Facilities (56292)
- SIC
- Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Refuse Systems (4953)
- akta.pro primary industry
- Chemical/Advanced Recycling (Pyrolysis, Depolymerization, Solvolysis, Gasification) (EUAIAKAC)
- akta.pro secondary industries
- Chemical/Advanced Plastics Recycling (Depolymerization, Pyrolysis, Solvolysis) (IMANAMAD), Plastic Recycling Equipment & Technology Providers (Sorting, Washing, Extrusion) (EUAIAKAM), Post-Consumer Plastic Collection & Sorting (MRF/PRF, Bale Supply) (EUAIAKAA)
Keywords
Where PlasCred Circular Innovations is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
PlasCred Circular Innovations business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Infrastructure, Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales
Revenue model
- Refined Hydrocarbon Condensate Sales: PlasCred sells refined hydrocarbon condensate produced from advanced recycling under a five-year fixed-price offtake agreement with a global commodities firm at CAD $120 per barrel. The condensate serves as drop-in feedstock for petrochemical and plastic production, and can also be used as transportation fuel blend stock or pipeline diluent. This is the primary revenue driver, with 100% of planned Neos production contracted.
- Processing/Tolling Fees: PlasCred charges processing fees under tolling arrangements with feedstock suppliers like Circular Materials. This provides contracted revenue supporting commercial processing while de-risking procurement and transportation logistics.
- Verified Plastic Credits: PlasCred generates revenue from verified plastic credits through partnerships with Verra and SCS Global Services. The Neos facility is expected to process 100 tonnes of plastic per day with verified credit potential of $5,000 to $80,000 per day. Current market value of plastic credits ranges from $50-$800 per tonne of plastic processed. Demand is driven by consumer goods companies like Pepsi, Coke, Unilever, Nestle, and P&G.
- Carbon Credits / GHG Reduction: PlasCred's Neos facility achieves approximately 51,000 tonnes of CO2 reduction per year, generating potential revenue of $1.5 million per year from voluntary carbon credits valued at $8 to $30 per tonne of carbon removed.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Refined Hydrocarbon Condensate - CAD $120 per barrel (5-year fixed-price offtake) |
| Unit Pricing | Pay-as-you-go | Verified Plastic Credits - $50 to $800 per tonne |
| Unit Pricing | Pay-as-you-go | Voluntary Carbon Credits - $8 to $30 per tonne |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
PlasCred Circular Innovations product offering
Product offeringCore offering
PlasCred operates advanced plastic recycling facilities that use a patent-pending catalytic pyrolysis process to convert unsorted, unwashed, mixed hard-to-recycle plastics into low-sulphur refined hydrocarbon condensate, carbon char, and process gas. The company generates revenue through condensate sales under long-term offtake agreements, processing/tolling fees, and verified plastic and carbon credits.
Product overview
PlasCred Circular Innovations operates a unified advanced recycling platform that transforms plastic waste into refined hydrocarbon condensate and generates verified plastic and carbon credits. The product portfolio consists of the Primus pilot plant (brought online in May 2023 to validate patent-pending pyrolysis technology), the commercial-scale Neos facility (processing 100 tonnes/day into 500 barrels/day of condensate with full offtake contracted at CAD $120/barrel), and the planned Maximus expansion (scaling from 400 to 2,000 tonnes/day). The platform produces three main outputs: refined hydrocarbon condensate (80% yield, ISCC+ and REACH certified), carbon char (10% by-product), and process gas (captured for thermal reuse). Revenue streams include contracted product offtake, processing fees, and verified plastic and carbon credits. Operations are powered by Palantir Foundry AI for data-driven optimization and CN Rail logistics for integrated feedstock and product distribution.
Differentiator
Problem solved
Functional benefit
Brands
- PlasCred Primus: Original processing facility brought online in May 2023 to validate patent-pending pyrolysis technology under real-world conditions. Serves as proving ground for the three-step thermal conversion system that underpins future commercial builds.
- PlasCred Neos
- PlasCred Maximus
Products and services
- PlasCred Neos Next-generation modular, rail-integrated commercial-scale facility at Alberta's Industrial Heartland processing 100 tonnes/day of mixed hard-to-recycle plastics into 500 barrels/day of refined hydrocarbon condensate. For petrochemical, plastic manufacturing, and consumer goods customers.
- PlasCred Primus Original pilot processing facility validating the patent-pending three-step thermal conversion (thermal liquefaction, controlled degradation vaporization, dual catalytic upgrading). Demonstrates viability of the recycling technology for industrial-scale builds.
- Refined Hydrocarbon Condensate Low-sulphur refined hydrocarbon condensate serving as drop-in feedstock for petrochemical and plastic production (virgin naphtha replacement), transportation fuel blend stock, and pipeline diluent. ISCC+ and REACH certified for international supply chains.
- Carbon Char Carbon-rich solid by-product (10% of process output) used in industrial applications including asphalt, filtration media, and advanced materials.
- Process Gas Gaseous by-products including hydrogen, propane, and butane captured and reused for heat, improving thermal efficiency and system stability at higher feed rates.
- Verified Plastic Credits Verified plastic recovery credits generated through partnership with Verra and SCS Global Services. Market value ranges from $50 to $800 per tonne of plastic processed, with Neos verified credit potential of $5,000 to $80,000 per day. Targets EPR-regulated consumer goods companies.
- Voluntary Carbon Credits Voluntary carbon credits generated from GHG reduction at advanced recycling facilities. Neos facility achieves approximately 51,000 tonnes of CO2 reduction per year with potential revenue of $1.5 million per year at $8 to $30 per tonne of carbon removed.
Quantifiable outcome
- 80% conversion rate of unsorted, waste plastic into refined hydrocarbon condensate
- +6 more outcomes
Companies that use PlasCred Circular Innovations
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
PlasCred Circular Innovations technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature3 records
PlasCred Circular Innovations partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and supporting.
- Circular MaterialscoreCommercial supply agreement to receive post-consumer plastic waste collected in Alberta for advanced recycling at the Neos facility. The agreement provides a contracted portion of feedstock requirements under a tolling arrangement, supporting commercial processing revenue while de-risking procurement and transportation logistics. PlasCred was selected through Circular Materials' Request for Expressions of Interest process.
- Business Coalition for a Global Plastics Treaty (WWF / Ellen MacArthur Foundation)supportingMembership in the coalition founded by WWF and Ellen MacArthur Foundation, representing over 300 companies, investors, and NGOs advocating for a global agreement to address plastic pollution. PlasCred contributes technical expertise and engages in policy dialogue on extended producer responsibility, traceability, and investment in circular infrastructure.
- CN RailcoreStrategic partnership providing continent-wide logistics infrastructure for plastic waste feedstock collection and finished product distribution. PlasCred has a long-term lease agreement at CN's Scotford Yard in Fort Saskatchewan, Alberta, with an initial 15-year term (renewal options up to 30 years). The partnership includes direct rail access, a 35,000-square-foot industrial building, existing rail infrastructure, and a 200-railcar siding.
- Palantir Technologies Inc.coreAI-powered data environment partnership using Palantir Foundry platform to enable real-time traceability, performance tracking, and infrastructure-grade oversight across CN-integrated logistics. Supports AI-driven systems for smarter, faster decisions at every operational level.
- PricewaterhouseCoopers Corporate Finance Inc. (PwC)supportingRetained as financial advisor to secure the final tranche of capital for the Neos commercial-scale advanced recycling facility. PwC is leading the capital raise to complete the funding for the $25 million project.
- Global Commodities CompanycoreFive-year fixed-price offtake agreement at CAD $120 per barrel for the refined hydrocarbon condensate produced at the Neos facility. 100% of planned production is contracted under this agreement, ensuring predictable revenue from day one of operations.
- SCS Global ServicessupportingPartnership for ISCC PLUS verification and sustainability certifications. SCS Global Services advances PlasCred's sustainability commitments and enables the refined condensate to meet globally recognized standards for sustainability and compliance.
- VerrasupportingPartnership with Verra to establish verification methodologies for advanced recycling facilities and industrial plastic waste processing, enabling the generation of verified plastic credits.
- Fibreco Export Inc.supportingPartner mentioned in the PlasCred platform description for powering scalable, end-to-end operations alongside CN Rail and Palantir.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
PlasCred Circular Innovations competitors and assessment
Company assessmentBroad incumbents
- Eastman Chemical Company: Eastman operates large-scale chemical/advanced recycling using methanolysis to depolymerize PET and mixed plastics back to monomer feedstock. It is a broad incumbent with a mature molecular recycling platform (Kingsport, TN plant) directly comparable to PlasCred's pyrolysis approach and drop-in feedstock offtake model.
- ExxonMobil (Advanced Recycling / Exxtend): ExxonMobil's advanced recycling business processes mixed plastics via pyrolysis into feedstock for virgin-quality polymers at multi-thousand bpd scale. Comparable to PlasCred in technology (pyrolysis), end-product (feedstock for petrochemicals), and customer base (consumer brands seeking certified recycled content).
- BASF (ChemCycling): BASF's ChemCycling initiative uses pyrolysis oil from mixed plastic waste as feedstock for its production, supplying certified-circular polymers to consumer brands. Comparable to PlasCred's drop-in feedstock model and customer base (Coca-Cola, Unilever, etc.) seeking ISCC-certified recycled content.
- Shell (Advanced Recycling): Shell operates advanced recycling via pyrolysis at its Norco and other facilities, producing feedstocks for circular polymers. Comparable in technology approach (pyrolysis), scale ambition, and partnership model with consumer goods brands.
Direct peers
- Plastic Energy: Plastic Energy operates commercial-scale pyrolysis plants converting mixed, contaminated post-consumer plastic waste into TACOIL, a refinery feedstock. Directly comparable to PlasCred as a specialized chemical recycling company targeting hard-to-recycle plastics at industrial scale.
- Agilyx: Agilyx is a chemical/advanced recycling technology provider operating pyrolysis systems to convert waste plastics into crude oil feedstock. Comparable in technology stack (pyrolysis), customer orientation (petrochemical off-takers), and project-based scaling model.
- Brightmark Energy: Brightmark built one of the largest U.S. plastics-to-fuel pyrolysis plants (Ashley, IN) producing fuels and feedstocks from mixed plastic waste. Directly comparable to PlasCred's pyrolysis-to-condensate model, with similar technology risk profile and feedstock strategy.
- Mura Technology: Mura Technology uses supercritical steam-based advanced recycling (HydroPRS) to convert mixed plastics into feedstocks at commercial scale, with partners including Dow and Mitsubishi Chemical. Comparable to PlasCred as an advanced/chemical recycler targeting hard-to-recycle mixed plastics.
Emerging players
- Renewlogy: Renewlogy operates pyrolysis plants converting mixed plastics into fuels and feedstock, with a technology-provider model. Comparable as a smaller-scale advanced recycler in similar feedstock-to-condensate conversion space, though with less integrated logistics infrastructure.
Regional players
- CarbonLite (now CarbonLite Holdings): CarbonLite operates large-scale PET-to-food-grade rPET recycling facilities primarily serving U.S. beverage brands. Comparable in end-market focus on consumer goods EPR/ESG commitments and credit-based revenue, though in mechanical (rPET) recycling rather than pyrolysis.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
PlasCred Circular Innovations social profiles
Digital presencePlasCred Circular Innovations compliance and trust
Trust signalCompliance4 records
PlasCred Circular Innovations financial estimates
Financial estimateRevenue estimate
Valuation estimate
PlasCred Circular Innovations leadership team
Management profileNumber of profiles
Profiles4 records
PlasCred Circular Innovations subsidiaries and ownership
Company hierarchySubsidiaries3 records
PlasCred Circular Innovations funding detail
Funding detailFunding overview
Funding rounds7 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PlasCred Circular Innovations M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PlasCred Circular Innovations
What does PlasCred Circular Innovations do?
PlasCred operates advanced plastic recycling facilities that use a patent-pending catalytic pyrolysis process to convert unsorted, unwashed, mixed hard-to-recycle plastics into low-sulphur refined hydrocarbon condensate, carbon char, and process gas. The company generates revenue through condensate sales under long-term offtake agreements, processing/tolling fees, and verified plastic and carbon credits.
Is PlasCred Circular Innovations a public or private company?
PlasCred Circular Innovations is a public company. It is classified as public and is currently operating.
When was PlasCred Circular Innovations founded?
PlasCred Circular Innovations was founded in 2023. It employs 1 to 10 people.
Where is PlasCred Circular Innovations based?
PlasCred Circular Innovations is headquartered in Calgary, Canada, in the North America region.
How does PlasCred Circular Innovations make money?
Four revenue lines are on record. Refined Hydrocarbon Condensate Sales are the primary driver. The others are processing/Tolling Fees, verified Plastic Credits and carbon Credits / GHG Reduction.
Who are PlasCred Circular Innovations's main competitors?
Broad incumbents on record are Eastman Chemical Company, ExxonMobil (Advanced Recycling / Exxtend), BASF (ChemCycling) and Shell (Advanced Recycling). Direct peers are Plastic Energy, Agilyx, Brightmark Energy and Mura Technology. Renewlogy is listed as an emerging player. CarbonLite (now CarbonLite Holdings) is listed as a regional player.
Does PlasCred Circular Innovations have an API?
No public API is recorded for PlasCred Circular Innovations.
What industry is PlasCred Circular Innovations in?
PlasCred Circular Innovations's product category is Advanced Plastic Recycling / Cleantech Industrial Infrastructure. Its primary akta.pro industry code is EUAIAKAC, Chemical/Advanced Recycling (Pyrolysis, Depolymerization, Solvolysis, Gasification), with a secondary code of IMANAMAD, Chemical/Advanced Plastics Recycling (Depolymerization, Pyrolysis, Solvolysis). Its NAICS code is 562920 and its SIC code is 2821.