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Aduro Clean Technologies Inc. (OTCQX: ACTHF) is a leading Canadian technology company specializing in the chemical transformation of low-value feedstocks such as waste plastics, heavy bitumen, and renewable oils into valuable resources for the 21st century. Operating on the frontier of sustainable innovation, Aduro leverages its patented Hydrochemolytic™ Technology (HCT) to address some of the most pressing environmental challenges today. This innovative technology harnesses the power of water to deconstruct complex molecules at relatively low temperatures, offering a cost-effective and environmentally friendly solution for chemical recycling.
In recent developments, Aduro has been featured in the prestigious Viewpoint with Dennis Quaid documentary series, which showcases groundbreaking technologies. The company's segment, airing in February 2024, underscores its commitment to scalable, sustainable solutions for chemical recycling, particularly in addressing waste plastic pollution.
Significant progress was also made with the Continuous Flow Plastic Reactor, where over 240 test runs validated the efficacy of HCT in converting up to 95% of polyolefin feedstocks into new plastics and chemicals. This development aligns with Aduro's Customer Engagement Program (CEP), designed to ensure the technology meets market needs and integrates specialized expertise.
Aduro continues to expand its market presence through strategic partnerships. Notable collaborations include a technical evaluation project with a leading multinational food packaging company to recycle food packaging plastics, and another with a multinational building materials company to recycle cross-linked polymers, a notoriously difficult material to recycle.
Financially, Aduro reported record revenue growth in Q3 2024, with a robust cash position bolstered by the exercise of warrants and options. The company also announced a non-brokered private placement expected to raise up to $3.525 million, further supporting its innovative research and development initiatives.
Aduro's participation in the Intergovernmental Negotiating Committee on Plastic Pollution (INC-4) highlights its commitment to global sustainability goals. The company advocates for a circular economy and supports international policies promoting advanced recycling technologies, aligning its efforts with broader environmental objectives.
For more information, visit Aduro Clean Technologies Inc.
Aduro Clean Technologies Inc. (CSE: ACT, OTCQB: ACTHF) has announced a progress update on its joint research project with Western University, focused on enhancing plastic recycling technologies. The project, which has a total budget of $1.53 million, includes $1.15 million from NSERC and Mitacs. It aims to improve processing techniques and assess contaminants in plastic feedstocks. Led by Dr. Paul Charpentier and Dr. Cedric L. Briens, the three-year project began in January 2023, employing 18 skilled researchers. Aduro retains ownership of all intellectual property generated from this initiative.
Aduro Clean Technologies Inc. (CSE: ACT, OTCQB: ACTHF) announced its participation in the Uttar Pradesh Global Investors Summit 2023 from February 10-12 in Lucknow, India. This summit aims to connect global leaders and explore investment opportunities. Aduro will showcase its Hydrochemolytic technology for recycling plastics, addressing India's substantial plastic waste issue, which reaches 8.5 million tonnes annually. CEO Ofer Vicus highlighted the significance of Uttar Pradesh's population of 230 million as a potential market for their innovative solutions. The summit supports India’s goal of becoming a $5 trillion economy while focusing on economic growth and sustainability.
Aduro Clean Technologies Inc. (OTCQB: ACTHF) will participate in the CEM AlphaNorth Capital Event in Nassau, Bahamas, from January 20-23, 2023. The company has achieved significant milestones, including a $1.14 million research grant from NSERC and a Letter of Intent with Prospera Energy to develop a pilot plant for converting low API bitumen. Additionally, Aduro has joined the Shell GameChanger program to advance its Hydrochemolytic™ technology for recycling plastics. CEO Ofer Vicus highlighted the company's growth potential in the clean technology sector.
Aduro Clean Technologies Inc. (CSE: ACT, OTCQB: ACTHF) announced the issuance of 2,075,000 stock options to directors, officers, employees, and consultants, exercisable at $1.00 for five years. Of these, 1,775,000 options will vest monthly over two years, while 300,000 will vest immediately. Additionally, the company awarded 150,000 restricted share units (RSUs) to an officer, which will vest immediately. All options and RSUs are subject to a four-month hold period. The release includes forward-looking statements regarding the vesting schedule and potential market conditions affecting future performance.
Aduro Clean Technologies Inc. (CSE: ACT, OTCQB: ACTHF) announced it has received $1,109,103 from the exercise of warrants and stock options since September 1, 2022. This includes 1,638,390 warrants at $0.50, 118,635 at $0.80, and 300,000 stock options at $0.65, resulting in the issuance of 2,057,025 common shares. The CEO highlighted that these proceeds will support laboratory expansion and ongoing projects, including commissioning continuous flow pilot units.
Aduro Clean Technologies has completed the construction and mechanical assembly of its pilot-scale Hydrochemolytic™ continuous flow plastic reactor, known as R2 Plastic. This reactor is designed to process various plastic feedstocks and evaluate the impact of multilayer materials. Plans for testing and certification by the Technical Standard and Safety Authority are underway, with completion expected soon. In 2023, the company aims to execute a research and testing program for the R2 Reactor, along with scaling up the pre-commercial R3 Reactor unit. Further details are available in a video walk-through.
Aduro Clean Technologies has been accepted into Shell's GameChanger program, which aims to accelerate innovative energy solutions. Their patented Hydrochemolytic™ Technology (HCT) will be utilized to convert hard-to-recycle plastics into sustainable Naphtha Cracker feedstock. Shell will provide non-dilutive funding over six project phases and technical expertise to optimize the technology for commercial use. The 12-month project seeks to minimize developmental risks while advancing Aduro’s goal of contributing to plastic circularity and the energy transition.
Aduro Clean Technologies, developer of patented water-based recycling technologies, has announced a joint research project with the University of Western Ontario. The project, entitled 'Tuning Supercritical Fluids for Polymer Recycling to Monomers and Chemicals', has received $1.15 million in funding from NSERC and Mitacs. Aduro will contribute $382,500. The research aims to enhance the company's Hydrochemolytic™ process by improving plastic feedstock processing and minimizing sorting requirements. The project is set to employ 18 individuals and will last for three years, commencing in November 2022.
Aduro Clean Technologies, trading under the symbol ACTHF, has announced the nearing completion of its pilot-scale HydrochemolyticTM continuous flow plastic reactor, R2 Plastic. This unit, designed to process various plastic feedstocks, is set to be commissioned by mid-November 2022. The company is also planning the R3 Plastic unit, with a targeted throughput of 2,000 kg/day, aiming for completion by the end of 2023. These advancements are part of Aduro's strategy to enhance customer engagement and ultimately commercialize its innovative recycling technologies.
Aduro Clean Technologies (OTCQB: ACTHF) has signed a Letter of Intent (LOI) with Prospera Energy (TSX.V: PEI) to develop a pre-commercial pilot plant for converting low API bitumen into higher-value products. The partnership follows Aduro's advancements with its bitumen reactor and outlines an 18-month plan divided into three phases, culminating in the construction of a 50 bbl/day pilot plant by Q2 2024. Prospera will pay Aduro $25,000 CAD monthly for the first phase, aimed at testing feedstocks and evaluating economics.
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