PlasCred Neos is a novel, patent-pending advanced recycling facility designed to process mixed and contaminated plastics into Renewable Green Condensate, a circular naphtha product, using low-temperature and low-pressure pyrolysis combined with in-situ and ex-situ catalyst technology. The facility will divert up to 36,500 tonnes of single-use plastics annually from landfills and incineration. Its design is based on two years of testing at PlasCred’s Primus pilot facility in Calgary, which processes 400 kg of plastic waste daily, providing valuable operational data and process enhancements that have been incorporated into Neos. A Front-End Engineering Design (FEED) study and a Class 4 Cost Estimate have been completed to validate technical and economic feasibility. Neos is engineered to handle 100 metric tonnes of plastic waste per day, producing approximately 500 barrels of Renewable Green Condensate daily, which can serve as a petrochemical feedstock or an energy source, reducing reliance on virgin fossil-derived materials. By-products such as non-condensable gases and carbon char are either utilized internally or managed sustainably.
Located in Fort Saskatchewan, the facility benefits from a long-term, fixed-price offtake agreement at CAD $120 per barrel, secured through a fully executed Definitive Agreement with a leading global commodities company, ensuring consistent demand for its Renewable Green Condensate. Situated on a fully developed industrial CN Rail site, the facility leverages CN’s logistics network for efficient feedstock delivery and product transportation. Additionally, PlasCred has partnered with Palantir Technologies to integrate its Foundry AI software for optimizing operational efficiency and supply chain management. PlasCred Neos provides a scalable solution for advanced recycling. PlasCred’s planned Maximus expansion, co-located at the CN site and designed for profitability, will increase plastic waste processing capacity to 730,000 metric tonnes per year and 10,000 barrels per day, further enhancing plastic diversion and emissions reductions. This will contribute to Alberta’s plastics circularity and GHG reduction targets while offering a sustainable competitive advantage.