Mr. Troy Lupul reports

PLASCRED CIRCULAR INNOVATIONS INC. ANNOUNCES INITIAL CATALYTIC TEST RESULTS WITH PATENT-PENDING PRIMUS PILOT PLANT

Plascred Circular Innovations Inc. has released the initial catalytic test results from its cutting-edge, patent-pending Primus pilot plant in Calgary. This milestone achievement demonstrates the superior performance and efficiency of Plascred's unique upcycling process with catalysts.

The Primus facility, a testament to Plascred's commitment to the circular economy, was engineered for beta testing of Plascred's innovative upcycling process. The process was designed to function with or without catalysts, ensuring optimal and consistent system parameters. However, the catalytic runs showed remarkable results, surpassing the non-catalytic ones in terms of yield and quality.

The catalytic tests, using polypropylene plastic waste as the primary material, produced high-quality zero-sulphur green condensate that meets industry specifications with a yield of about 87 per cent. The condensate has a density and viscosity that fall within the desirable range for pipeline diluents, as indicated by the Enbridge Inc. specifications. This means that the condensate can be used as a raw feedstock for the production of fuels and chemicals, or as a blending agent for heavy oil transportation.

Note: The Enbridge specifications provide a benchmark indicating the desirable range of properties for materials to be used as pipeline diluents. Materials within these specifications are likely to perform better in pipeline transportation as they align with the established standards for density and viscosity, which are critical for ensuring smooth operation, minimizing friction and maintaining the integrity of the pipeline infrastructure.

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 various industries. The catalytic tests have proven that our process is more energy efficient and environmentally friendly than the conventional methods of plastic recycling or incineration. We are excited to share these results with our stakeholders and the public, as we continue to advance our technology and contribute to the circular economy." 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.

Using polypropylene plastic waste as the main feedstock, the Primus pilot plant conducted experiments with catalysts and obtained remarkable outcomes. The process generated high-quality green condensate with zero sulphur content, that met industry standards and operated at lower temperature (less than 300 degrees C) than non-catalytic runs, making it more energy efficient. The plant achieved liquid conversion rates of about 87 per cent during the catalytic runs.

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

In the company's 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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