PlasCred Secures Conditional Long-Term CN Rail Lease for Advanced Recycling Facility
CALGARY, Alberta, June 25, 2026 (GLOBE NEWSWIRE) -- PlasCred Circular Innovations Inc. (CSE:PLAS) (FSE: XV2) today announced it has entered into a conditional long-term lease agreement with Canadian National Railway Company (CN) for the site of the proposed Plascred Neos project, an advanced recycling facility at CN’s Scotford Yard in Fort Saskatchewan, Alberta.
The term of the lease agreement is subject to certain conditions being met before the current effective date of August 1, 2026. Once in effect, the agreement will provide PlasCred with an initial 15-year lease term, with options for renewal securing up to 30 years of site control within Alberta’s Industrial Heartland.
The leased property comprises approximately 7.34 acres and includes a 35,000-square-foot industrial building and an existing 200-car rail siding. The site will support receipt and storage of mixed plastic waste bales, advanced recycling operations, condensate storage, and direct rail access for shipment of finished products.
Once operational, PlasCred Neos will be able to process up to 100 tonnes of mixed hard-to-recycle plastics per day and convert that material into approximately 500 barrels per day of refined hydrocarbon condensate used in the manufacture of new plastics as well as other industrial applications.
The facility is being developed within Alberta’s Industrial Heartland, one of North America’s largest hydrocarbon processing regions. PlasCred Neos will have direct access to CN’s rail network allowing for great transportation efficiency for both inbound plastic bales and outbound products while reducing new infrastructure requirements.
"Securing the Scotford Yard site is a foundational milestone for Neos," said Troy Lupul, President and CEO of PlasCred. "This agreement gives us long-term access to strategically located industrial infrastructure and strengthens the logistics platform required to support future growth."
"CN worked closely with PlasCred to develop the right supply chain and rail logistics strategy for the Neos project," said Buck Rogers, Vice-President, Petroleum and Chemicals at CN. "Our team helped evaluate infrastructure requirements, rail capacity, and market access considerations to create a solution that supports both current operations and future expansion. The initial Scotford Yard site provides PlasCred with access to CN's North American network allowing for a strong foundation ensuring the project's long-term success."
The lease supports PlasCred’s broader commercialization strategy and future expansion plans. The company is currently advancing detailed engineering activities and regulatory processes required to support a final investment decision and construction readiness.
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. For further information on PlasCred, visit our website at www.PlasCred.com.
Contact Information
For more information please contact:
PlasCred Circular Innovations Inc.
Email: IR@plascred.com
Forward-looking Statements
Forward-looking statements in this release include but are not limited to: the commencement and timing of the lease; satisfaction of the lease conditions; the timing, scope, and cost of constructing the Neos facility; offtake performance; the availability and timing of financing; regulatory approvals; and the Company's phased expansion plans, including the proposed Maximus facility. Forward-looking statements are based on management’s current assumptions and expectations, which are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Such risks and uncertainties include, without limitation: construction, commissioning, and start-up risks; cost overruns; delays or disruptions in the supply chain; ability to achieve and maintain nameplate capacity at scale; changes in feedstock availability, composition, or pricing; fluctuations in commodity prices and foreign exchange rates; failure of counterparties to perform under offtake, financing, or strategic agreements; changes in applicable laws, regulations, or EPR requirements; inability to secure or maintain permits; adverse changes in market demand for advanced recycling products; evolving ESG reporting standards; technology performance or reliability issues; and general economic, political, and capital market conditions. A discussion of these and other factors that may affect future results is contained in the Company’s continuous disclosure filings available under its profile on SEDAR+ at www.sedarplus.ca. Forward-looking statements are not guarantees of future performance, and readers should not place undue reliance on them. Except as required by applicable securities laws, the Company undertakes no obligation to revise or update any forward-looking statements to reflect new events, circumstances, or otherwise.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
