Aduro Clean Technologies, Inc. (NASDAQ: ADUR) (CSE: ACT) (FSE: 9D5) debuted on the NASDAQ last week. The company has developed a water-based chemical recycling technology designed to break down and upgrade plastic waste into usable forms. The technology has been developed over the course of about 15 years and was self-funded until Aduro went public in 2021 on the Canadian Stock Exchange. Until the NASDAQ listing, the company’s shares were available to U.S. investors through a quote on the OTC Market.
Needless to say, Aduro took a major step up by raising ~$4 million with an IPO of its shares on the NASDAQ. The deal was closed in about 48 hours, and the company now has around $10 million in the bank to build its first pilot unit as well as cover 12 to 18 months of working capital. It’s a pretty good runway for the little company, and the new listing can only help by opening doors to more partners and investors who may have stayed away or simply not known of the opportunity on the lower-tier exchanges.
In this video, four investors in Aduro review the uplisting, the technology, and the potential for the company to grow much larger as it nears commercialization. Aduro is currently valued around $130 million, and its technology has been proven capable of processing about 70% of the plastic now being thrown away. With the world creating more than 400 million tonnes of waste plastic each year, that’s a lot of opportunity for the new NASDAQ member. Take a look.
