Aduro Clean Technologies Provides Update on Next Generation Process
16 July 2024 - 9:00PM
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, CEOovicus@adurocleantech.com
Abe Dyck, Investor Relationsir@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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0b7535e1-83f6-4e46-aa6e-9cc146b6c0a6
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