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Cover Technologies ( (TSE:PLAS) ) has shared an announcement.
PlasCred Circular Innovations has secured up to $2.35 million in non-dilutive advisory services and funding from the National Research Council of Canada’s Industrial Research Assistance Program to support engineering, staffing, and operations for its planned Neos commercial facility. Neos is designed to process about 100 metric tonnes of mixed plastic waste per day into refined hydrocarbon condensate, scaling up the company’s Primus pilot plant and advancing its commercial platform for advanced plastic recycling.
The IRAP support will fund key development work ahead of Neos’ construction, complementing a previously announced $5 million grant from Emissions Reduction Alberta that becomes available once building begins. PlasCred is also continuing to seek additional financing for Neos through its existing engagement with PwC, underscoring the project’s significance in moving from pilot-scale validation toward commercial deployment in the advanced recycling sector.
More about Cover Technologies
PlasCred Circular Innovations Inc. is an Alberta-based advanced recycling company focused on converting mixed plastic waste into refined hydrocarbon condensate. Its engineered, modular platform targets markets including virgin plastic production, petrochemical feedstock supply, and upstream energy applications, positioning the firm within the circular economy and low-carbon materials value chain.
Average Trading Volume: 265,136
Technical Sentiment Signal: Buy
Current Market Cap: C$9.7M
For a thorough assessment of PLAS stock, go to TipRanks’ Stock Analysis page.