Mr. Troy Lupul reports

PLASCRED CIRCULAR INNOVATIONS INC. ACHIEVES MAJOR MILESTONE WITH PATENT-PENDING PRIMUS PILOT PLANT

Plascred Circular Innovations Inc. has provided an update on the successful commissioning of its cutting-edge, patent-pending Primus pilot plant in Calgary, achieved in May, 2023. This significant accomplishment follows an intensive engineering design and fabrication phase in collaboration with Grey Owl Engineering Ltd.

The Primus facility, a testament to Plascred's commitment to the circular economy, was engineered for beta testing of Plascred's unique upcycling process. To maximize flexibility, the process was designed to function with or without catalysts, ensuring optimal and consistent system parameters.

Initial tests, without utilizing catalysts, using polypropylene plastic beads as the primary material revealed outstanding results. The plant achieved yields of about 80 per cent, producing high-quality, zero-sulphur green condensate that meets industry specifications.

Troy Lupul, Plascred's chief executive officer, commented: "Our progressive upcycling method can convert up to 80 per cent of dirty, mixed waste plastic. The resultant liquid, which puts plastic waste back to its original molecules, has vast potential as raw feedstock for refineries, conversion back to virgin plastic and as a pipeline diluent. This process negates the need for new oil wells being drilled and substantially cuts down on GHG [greenhouse gas] emissions."

Dr. Wayne Monnery, PhD, Eng, chief technology officer of Plascred, stated, "Plascred's flexible process can treat a variety of plastics pyrolyzing the molecules back to their hydrocarbon origins while using minimal energy with catalysis. The mix of catalysts can target selective products. Such hydrocarbons offset the need for new fossil feedstock and reduce waste ending up in landfills and oceans.

Dr. Monnery is a seasoned expert in the industry. Holding a PhD in chemical engineering from the University of Calgary, he has over three decades of experience, specializing in gas processing and crude oil dehydration.

Dr. Monnery has been instrumental in projects related to plastic pyrolysis, lithium extraction from brine and geothermal energy. Renowned for his expertise in thermodynamics and fluid properties, he has provided consultation services to various EPC ((engineering, procurement and construction) and operating companies.

The insights and data gathered from the Primus testing will be instrumental in the construction of the inaugural Plascred Maximus plant. This coming facility is designed to produce approximately 2,000 up to 10,000 barrels a day of zero-sulphur green condensate and remove approximately 300 metric tonnes a day and up to 1,300 metric tonnes a day of plastic waste from the environment while using minimal energy.

As Plascred continues its revolutionary journey, the company is preparing for catalytic runs in the coming weeks. "Our primary aim is to transform unrecyclable plastic waste into pristine zero-sulphur green condensate," stated Mr. Lupul.

In its commitment to scalability and adaptability, Plascred has planned rigorous testing over the next six months, incorporating a variety of mixed waste plastics and a proprietary blend of catalysts. This initiative solidifies Plascred's dedication to addressing the global plastic waste challenge and reinforces its leadership in environmental sustainability.

About Plascred Circular Innovations Inc.

Plascred is at the forefront of rebalancing the future of plastics. The company is transforming plastic waste by granting it a valuable second life. With a vision of advancing toward a climate-positive future, Plascred aspires to be among the largest advanced plastic waste upcycler's in North America and globally. The company's groundbreaking patent-pending technology is set to revolutionize the approach to plastic waste management and upcycling.

Plascred is also developing strategic partnerships with CN Rail and Fibreco Export Inc., providing Plascred with unparalleled logistics support across North America and globally for transportation and handling of plastic waste.

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