The Market Online speaks with PlasCred Circular Innovations President & CEO, Troy Lupul as PlasCred Enters Long-Term Renewable Green Condensate Sales Agreement.
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00:00Welcome back to The Watchlist. I'm Lindsay Melchak. Well, we all know that renewable energy
00:10has taken a big piece of the spotlight. And one company out of Calgary, Alberta, named Plascred
00:16Inc. is their transformative leader in that advanced plastic waste recycling sector. Now,
00:22they just dropped their announcement on the signing of a definitive agreement
00:26with a global commodities company for the long-term purchase and sale of renewable green
00:31condensate. Now, here to circle through what that all means is President and CEO of Plascred,
00:38Troy LePaul. Hello, Troy. It's great to have you with us.
00:42Hello. Thank you for having me today.
00:44So why don't you actually first tell us just a little bit about, you know, for the audience
00:49members that really aren't familiar quite yet with the company, your elevator pitch on who you are and
00:54the technology you have developed and go.
00:58Oh, perfect. Yeah. So Plascred was evolved basically with a lot of talent pool within
01:02Alberta. Obviously, as you know, we're a hydrocarbon society here in Alberta. We, you know,
01:07natural gas or SAG-D, thermal. We do a lot of things, oil and gas. One of the things we saw
01:13when the slowdown happened here in Calgary was the fact that obviously we have a lot of talent,
01:18but most of all, if you look at plastic around the world, it's being consumed at incredible,
01:23insatiable amounts by human beings around the world, whether it be food packaging, agriculture,
01:28medical, automotive, a lot of plastic being made, but there's no real high level form of advanced
01:35recycling. What we've been able to achieve is we took this great talent pool here we had in Calgary
01:40and kind of reverse engineered the molecule. So we can basically take any type of species of mixed
01:45plastic, regardless of where it is in the world, what it is, and actually transform it back to its
01:50original mother earth molecule, if I can simplify it that way. And basically by putting it back to
01:55a simple molecule that can be repurposed rather than kind of ground up and shrunk into plastic that
02:01can make other kind of bad plastics, we can actually two phase it back to its original mother earth
02:06molecule. Well, that allows petrochemical companies, and that leads me into some fantastic opportunities
02:12to create a product that is really, really wanted by a lot of the petrochemical companies. So they can
02:18basically take that molecule and basically repurpose it as plastic, as anything they want to do with
02:24inside their petrochemical companies. This is fascinating. I really do want to hear more about
02:31this. I want to touch just a little bit more about that recent announcement as well. And that announcement
02:37was basically the signing of an offtake agreement for your green condensate product. So tell us some high
02:43level insights about that agreement and really why that is so important for investors.
02:48Well, to embellish a little bit, we were really, when we created the molecule, we were really,
02:54the green condensate is what we call it. We were really quite flabbergasted with the amount of major
02:59big corporations that basically chased us down and wanted to give us an offtake agreement.
03:04We were quite flattered. We currently are getting $120 a barrel for a five-year deal,
03:10and they're paying the shipping through Trafigura, which is our, basically the company that we're
03:15selling to. And we're super excited working with them, but we had many of other petrochemical
03:20companies saying, look, I'll offset buying virgin feedstock and I'd rather have your renewable
03:24molecule. So it's been really exciting. We, the market has, you know, we were, like I said,
03:29for us, a little small company startup. It was incredible to be dealing with fortune 500 companies
03:35at that level and them offering us these very flattering offers for offtake.
03:40Well, you know, I hope that the audience has actually been taking notes because I know for me,
03:45I have definitely been taking notes and this has been such a great conversation. Thank you again
03:49for joining us.
03:50Thank you very much. Appreciate it.
03:51Again, that was Troy Lupo, president and CEO of Plascred Inc. Their website is plascred.com
03:58for more information. And don't forget to bookmark starkhouse.com for all of your market news.
04:04I'm Lindsay Melchick. Tune in next time.