PlasCred Circular Innovations Inc. Enhances Logistics and Operations with Palantir Technologies Inc. Software in Strategic Collaboration
CALGARY, AB, Dec. 12, 2023 /CNW/ - PlasCred Circular Innovations Inc. (the "Company" or "PlasCred") (CSE: PLAS) (Frankfurt: 304A), a transformative leader in the plastic waste upcycling sector, proudly announces a strategic collaboration with Palantir Technologies Inc. (the "Company" or "Palantir") (NYSE: PLTR), a leading provider of AI systems globally and in Canada. This partnership signifies a major step in integrating advanced AI technology into PlasCred's environmental efforts, particularly focusing on refining supply chain logistics for plastic waste feedstock and optimizing operational processes.
The collaboration will commence with the implementation of Palantir's Foundry and Artificial Intelligence Platforms at PlasCred's patent pending Primus plant as a beta test. This initiative is aimed at harnessing the power of Palantir's technology to optimize operational efficiency, resource management, and decision-making processes.
Importantly, the insights gained from this implementation will greatly inform the design and development of the upcoming PlasCred Maximus facility, ensuring it is built with the most advanced and optimized processes. The Maximus facility is designed to produce approximately 2,000 up to 10,000 barrels a day of zero sulphur green condensate (renewable naptha) and remove approximately 300 up to 1,300 metric tonnes a day of plastic waste from the environment while using minimal energy.
"After the beta phase at the patent-pending PlasCred Primus, we plan to extend this technology to PlasCred Maximus. The insights gained from Primus will be crucial in shaping the design and functionality of Maximus, underlining our commitment to sustainable industrial practices," stated Troy Lupul, CEO of PlasCred.
"We are excited to work with PlasCred and see our software being used by a company at the forefront of the environmental sector. This collaboration is a testament to our commitment to working with mission-driven companies of all sizes across Canada, helping them unlock the potential of their data," said Hanna Tomory, Lead, Palantir Canada's Commercial Business.
Palantir's artificial intelligence platform, AIP, is a cutting-edge platform that integrates and analyzes complex data streams, enabling organizations to gain actionable insights and make informed decisions. Its advanced machine learning and AI capabilities, ability to orchestrate numerous models and LLMs for various tasks, and highly scalable architecture make it an ideal solution for tackling the complexities of modern supply chains and operational challenges in industries like upcycling.
Palantir Foundry's ability to process vast amounts of data in real-time and provide predictive analytics will be a game changer in enhancing PlasCred's operational effectiveness and environmental impact.
The insights and improvements derived from the patent pending Primus facility will not only influence the design of the Maximus facility but also establish a foundation for the seamless expansion of additional Maximus plants across North America.
This strategy ensures uniformity in operational excellence and sustainability standards, supporting PlasCred's vision of widespread environmental impact through advanced upcycling technologies.
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 towards a climate-positive future, PlasCred aspires to be among the largest advanced plastic waste upcycler's in North America and globally. Their 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, Palantir Technologies Inc. and Fibreco Export Inc., providing PlasCred with unparalleled operational intelligence and logistics support across North America and globally for transportation and handling of plastic waste. Further information on PlasCred, see their YouTube channel and website located at http://www.youtube.com/@PlasCredInc and https://www.PlasCred.com
ON BEHALF OF THE BOARD
Troy Lupul – President & CEO
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance, or achievements that PlasCred anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking statements are based on assumptions, including expectations and assumptions concerning the metaverse and the Company's growth plan. While PlasCred considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive and other risks set out in public disclosure recorded and filed under the Company's profile on www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of PlasCred Circular Innovations Inc. which are available on SEDAR at www.sedar.com.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. PlasCred Circular Innovations Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
SOURCE PlasCred Inc.
please contact: PlasCred Circular Innovations Inc., Troy Lupul, +1 403-430-3004 - Email: [email protected]
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