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Cover Technologies ( (TSE:PLAS) ) just unveiled an update.
PlasCred Circular Innovations provided an update on its Alberta Innovates–supported work for its first commercial-scale Neos facility, noting that the government-backed project has helped validate key engineering and operating parameters for processing mixed plastic waste and has reduced scale-up and execution risk ahead of final engineering, procurement planning and construction. The Neos plant is designed to handle about 100 tonnes per day of mixed plastic waste and produce refined hydrocarbon condensate under a five-year fixed price of CAD $120 per barrel with a global commodities buyer, while PlasCred also disclosed a recent equity draw of about $100,462 under an existing Equity Growth Agreement and said it remains in talks with institutional investors for a larger capital raise to fund Neos’ construction, highlighting the company’s gradual advancement from pilot to commercial scale and its ongoing need for project financing.
More about Cover Technologies
PlasCred Circular Innovations Inc. is an Alberta-based company in the advanced recycling sector, developing engineered, modular facilities that convert mixed plastic waste into refined hydrocarbon condensate. Its output is targeted for use in virgin plastic production, petrochemical feedstocks and upstream energy applications, positioning the firm within the circular economy and low-carbon materials value chain.
Average Trading Volume: 212,648
Technical Sentiment Signal: Hold
Current Market Cap: C$13.33M
See more data about PLAS stock on TipRanks’ Stock Analysis page.