PlasCred Circular Innovations Inc. Announces 2023 Year-End Results

PlasCred Advances Sustainability, Forges Transformative Partnerships, and Successfully R&Ds Patent-Pending Primus Facility

Calgary, Alberta–(Newsfile Corp. – May 7, 2024) – PlasCred Circular Innovations Inc. (CSE: PLAS) (FSE: XV2) (the “Company” or “PlasCred”), a transformative leader in plastic waste recycling sector, is pleased to publish its financial and operational results for the end of 2023.

“As we look ahead to 2023, PlasCred has not only strengthened its operational capabilities and partnerships, but has also made significant progress on sustainability. The successful R&D and ongoing rigorous testing of our patent-pending Primus facility marks a critical advancement in our plastics processing mission. waste management. We are setting new standards in environmental stewardship and innovation, ready to lead the circular economy into the future,” says Troy Lupul, President and CEO. “As we celebrate our achievements, we look forward to the introduction of our proposed Maximus facility, an important step in increasing our impact.” Building on lessons learned from our Primus installation, we are currently designing the Neos installation to demonstrate our ability to expand our operations. efficiently to the Maximus installation. Further details on Neos will be provided soon. Our progress illustrates what is achievable when dedication meets vision, underscoring our commitment to a sustainable future.

2023 highlights:

• Patent-pending PlasCred Primus Operations: The commissioning of the patent-pending Primus pilot plant in May 2023 is an important milestone for PlasCred. The installation demonstrates PlasCred’s commitment to the sustainable and efficient recycling of plastic waste. Currently, the facility is engaged in rigorous and ongoing testing processes, using a wide range of mixed plastic waste sources and catalysts. This diverse testing approach, verified by an independent third-party laboratory, ensures a comprehensive assessment of the effectiveness of PlasCred’s innovative technology on various types of plastic waste, demonstrating the potential and versatility of the Primus pilot plant to advance the transformation of plastic waste.

• Strategic partnerships: PlasCred has significantly enhanced its logistics and operational capabilities through strategic partnerships with industry leaders such as CN Rail and Palantir Technologies Inc. Additionally, PlasCred has entered into negotiations for large-scale procurement of waste raw materials plastics and a potential offtake for PlasCred’s renewable green condensate from the industry’s leading producers, strengthening its economic and sustainability efforts.

  • NC: PlasCred has significantly advanced its strategic objectives through an updated Memorandum of Understanding (MOU) with CN. This partnership is critical to enhancing our logistics capabilities, utilizing CN’s extensive network to support the transportation and distribution of PlasCred’s renewable green condensate as well as logistics for the supply of plastic waste raw materials across North America. North. The collaboration is also exploring the potential development of the inaugural Maximus facility at CN’s Scotford Yard, depending on the results of lease negotiations currently underway. Additionally, CN’s support extends to identifying potential strategic Maximus locations in North America and locations for plastic waste collection, including areas such as the Greater Chicago area and the Gulf Coast , in the USA. Further expanding our operational footprint, PlasCred received a lease offer from MSE (Mississippi Export Railroad) for a potential Maximus site in Helena, Mississippi, following a site visit facilitated by CN and Mississippi government officials .

  • Palantir Technologies Inc.: Palantir’s artificial intelligence platform, AIP, is state-of-the-art, capable of integrating and analyzing complex data streams to provide organizations with actionable insights and informed decision-making. Its advanced machine learning capabilities, ability to manage multiple models and LLMs for various tasks, and scalable architecture make it an optimal solution for addressing the complexities of modern supply chains and operational challenges in industries like upcycling. This partnership marks a significant milestone for PlasCred, integrating cutting-edge AI technology into its environmental initiatives, specifically focusing on refining plastic waste supply chain logistics and optimizing operational processes. The collaboration began with a beta test at PlasCred’s Primus facility, using Palantir’s foundry and AI platforms. Additionally, an impact study is underway with Palantir to evaluate the effectiveness of these integrations, aimed at improving operational efficiency, resource management and strategic decision-making processes.

The story continues

• Sustainability certifications and commitments: PlasCred is stepping up its commitment to sustainability by partnering with SCS Global Services for ISCC PLUS verification, recently including a full inspection of our Primus facility to assess our processes. This commitment to sustainability is also underlined by our official registration with Verra for plastic credit trade verification. These efforts are part of our broader strategy to adhere to the highest standards in environmental management, contributing to certified environmental benefits and significant reductions in greenhouse gas emissions. Additionally, these initiatives align with global sustainability goals, positioning PlasCred as a leader in responsible plastic waste management and recycling, striving to set industry benchmarks in ecological impact and transparency.

Operational results:
For the 12 months ending December 31, 2023, PlasCred reported the following:

• Net operating loss: $(3,092,996)

• Basic and diluted loss per common share: $(0.07)

In comparison, for the financial year ending December 31^st2022:

• Net operating loss: $(629,543)

• Basic and diluted loss per common share: $(0.01)

Financial situation as of December 31^st2023:

• Net current assets: $1,209,095

• Total assets: $2,107,561

• Current liabilities: $1,320,747

• Total liabilities and equity: $2,107,561.

Outstanding shares:
The Company’s common shares outstanding totaled 62,471,604.

About PlasCred Circular Innovations Inc.
PlasCred is at the forefront of rebalancing the future of plastic. The company transforms plastic waste, giving it a valuable second life. With a vision of moving toward a climate-positive future, PlasCred aspires to be among the largest advanced plastic waste recyclers in North America and the world. Their revolutionary patent-pending technology is poised to revolutionize the approach to plastic waste management and recycling. PlasCred is also developing strategic partnerships with CN Rail, Palantir Technologies Inc. and Fibreco Export Inc., providing PlasCred with unprecedented logistical and operational support in North America and around the world for the transportation and handling of plastic waste. For more information about PlasCred, check out their YouTube channel and website located at www.youtube.com/@PlasCredInc and www.plascred.com.

ON BEHALF OF THE COUNCIL

Troy Lupul – President and CEO

Contact details

For more information please contact:

PlasCred Circular Innovations Inc.
Troy Lupul
+1 587-430-3004 – Email: [email protected]

Forward-looking statements

This press release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, that address activities, events, results, developments, performance or achievements that PlasCred anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking. search for information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts” “, “intends”, “anticipates”, or “believes” or variations (including negative variations) of these words and expressions, or statements in the future tense or indicating that certain actions, events or results ” could”, “could”, “would”, “could” or “will” (or other variations of the foregoing) be taken, occur, be achieved or be achieved. Forward-looking statements are based on assumptions, including expectations and assumptions regarding the Company’s metaverse and growth plan. Although PlasCred considers these assumptions to be reasonable, based on currently available information, they may prove to be incorrect. place undue reliance on forward-looking statements. Additionally, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse events in the industry; future legislative, tax and regulatory developments. Readers are cautioned that the above list is not exhaustive and that other risks set forth in public information are recorded and filed under the Company’s profile on www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations on which they are based will be realized. This information, although considered reasonable by management at the time of its preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For additional information regarding risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Plascred Circular Innovations Inc. which are available on SEDAR at address www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof and are therefore subject to change thereafter. PlasCred Circular Innovations Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved the contents of this press release.

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