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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.
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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.
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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.
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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.
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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.
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“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.”
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“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.”
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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.
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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.
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