Mr. Troy Lupul reports

PLASCRED CIRCULAR INNOVATIONS INC. ANNOUNCES NON-DILUTIVE FUNDING TO ADVANCE THE NEOS FACILITY

Plascred Circular Innovations Inc. is receiving advisory services and funding of up to $2.35-million from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) funding to support engineering, staffing and operating activities for the company's proposed commercial facility (Neos).

The Neos facility is currently designed to process approximately 100 metric tonnes of mixed plastic waste per day into refined hydrocarbon condensate. When constructed, Neos will be the commercial-sized facility of the original pilot plant, Primus.

The IRAP funding will be used by Plascred to advance the commercial development of Neos, including engineering and design costs. The previously announced government funding, including grants of $5-million from Emissions Reduction Alberta (ERA), a government of Alberta agency, will become available when the construction of Neos commences. The company continues to pursue the remaining funding required for the construction of Neos pursuant to the previously announced PwC engagement.

About Plascred Circular Innovations Inc.

Plascred is an Alberta-based company developing an advanced plastic recycling facility. The company's engineered, modular platform converts mixed plastic waste into refined hydrocarbon condensate for use in virgin plastic production, petrochemical feedstock and upstream energy applications.

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