LONDON, Ontario, July 16, 2024 (GLOBE NEWSWIRE) — Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: ACT) (OTCQX: ACTHF) (FSE: 9D50), a Canadian technology company using the power of chemistry to transform lower value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21st century, is excited to provide updates on its Next Generation Process (“NGP”) for waste plastics.
Following the successful completion of a series of tests and work done over the last 6 months, the Company is now conducting semi-industrial scale experiments to finalize reactor configurations. These experiments are crucial for determining the necessary configurations for the NGP. Aduro aims to begin constructing the NGP by the end of 2024. Initial engagements with design, engineering, and fabrication firms have begun.
For 2024, Aduro has outlined three strategic initiatives: advancing the NGP design, converting participants in the Customer Engagement Program (CEP) into the next phase of collaborations, and expanding its intellectual property portfolio further unlocking the value and addressable market for the Hydrochemolytic™ technology (HCT) platform. All three strategic initiatives are integrated and collectively support the Company’s path towards commercialization.
Since early 2024, Aduro has conducted extensive testing and optimization on both its pilot-scale Hydrochemolytic™ continuous flow reactor for plastics and its laboratory batch reactors. Working in parallel to in-house programs, we have carried out ongoing research with external resources like the University of Western Ontario and Chemelot Innovation and Learning Labs in Geleen, Netherlands. In addition to supporting all three of the outlined strategic initiatives for 2024, this work focused on key project areas, including: process conditions, usage of different feedstocks, specifications of products, and pre- and post-treatment processes.
Significant progress has been made in the following areas:
- Confirming the unique ability of HCT to produce substantially saturated hydrocarbons without the requirement for costly hydrogenation.
- Maximising yield and achieving lower losses to char and fuel gas.
- Ability to work with common undesirable polymers in the feedstock like polyester and polyamide.
- Confirming the effectiveness of HCT in processing difficult-to-recycle crosslinked polymers.
- Operating continuously for extended periods in a stable operating condition.
Additionally, the Company has embarked on a process design strategy that pursues three parallel directions with different time horizon: the first working with relatively clean waste streams and relatively pure outputs, to be realized in a relatively simple process, the second working with more complex but still clean feedstocks, and the third where low-value contaminated feedstocks are converted. This provides a framework designed to generate valuable commercial solutions progressively and maximises speed to market.
“Our strategic initiatives for 2024 are designed to solidify our position in the industry,” commented Ofer Vicus, CEO at Aduro. “The strides we’ve made in refining the configuration of our Next Generation Process are a testament to our team’s dedication and expertise. These advancements are not just incremental improvements; they are transformative steps towards a more sustainable future.”
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil; and transform renewable oils into higher-value fuels or renewable chemicals. The Company’s Hydrochemolytic™ technology relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.
For further information, please contact:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 226 784 8889
Forward-Looking Statements
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future, are forward-looking statements. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. In this release, the forward looking statements include, but are not limited to, the Company’s plans for semi-industrial scale experiments to finalize reactor configurations; the plans for construction of the NGP by the end of 2024; the implementation of strategic initiatives to advance NGP design, convert participants in the CEP into the next phase of collaborations, and expansion of the Company’s intellectual property portfolio; that implementation of the strategic initiatives will unlock the value and addressable market for the HCT platform, and will support the Company’s plan for commercialization of its technology; the expectation that progress will continue in respect of the HCT technology; that the Company’s process design strategy will provide a framework to generate valuable commercial solutions progressively and maximise speed to market; that the strategic initiatives will solidify the Company’s position in the industry; and that the initiatives will provide transformative steps towards a more sustainable future. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, the various factors that may prevent or delay the planned semi-industrial scale experiments by the Company, the construction of the NGP by the end of 2024, and the proposed strategic initiatives; that the NGP design, conversion of CEP participants into the next phase of collaborations, and expansion of the Company’s intellectual property portfolio, may not occur as anticipated or at all; that implementation of the strategic initiatives may fail to unlock the value and any addressable market for the HCT platform or otherwise support the Company’s plan for commercialization; that progress may not continue in respect of the development and commercialization of the HCT technology as expected or at all for various reasons, including the development of new competing technologies or other reasons; that the Company’s process design strategy may not provide a framework for commercialization as anticipated or at all; that the strategic initiatives may fail to solidify the Company’s position in the industry or serve as a transformative steps in a more sustainable future, that the Company may fail to commercialize its technology or that its technology may not be accepted commercially, for various reasons; that other unexpected adverse market conditions may negatively affect the Company and its progress, including various other factors beyond the control of the parties. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events, or otherwise, except as required by applicable law.
The CSE has not reviewed, approved, or disapproved the content of this news release.
