SARNIA, Ontario, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: ACT) (OTCQB: 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 announce the addition of two new participants to its Customer Engagement Program (“CEP”).
The confidential participants are global leaders with billions of dollars in annual sales, representing a significant influence in the chemicals and plastics sector and extending into the global energy market. Their expansive and diverse portfolios highlight their versatility and commitment to innovation. Despite their distinct operational focuses, both companies share a common interest in finding innovative solutions to the challenges associated with waste plastics, aiming to transcend the limitations of current technologies to achieve sustainable and efficient waste management. As part of the paid engagement, the participants will contribute funding to support the work being conducted by Aduro. The Company continues to have ongoing discussions with other potential participants and expects further additions to the CEP in the upcoming few months.
The Aduro CEP enables interested organizations to conduct controlled technology evaluation sessions of the Hydrochemolytic™ Technology (“HCT”). The program provides an opportunity for potential customers to gain in-depth knowledge about the technology, discuss specific issues and needs, and collaborate on targeted future projects. It also provides the opportunity for Aduro to perform analysis and experimentation using diverse waste polymers sourced from different locations and businesses across the world, each with varying compositions and contaminant levels. This important data supports the Company’s established scale-up program and advances the design and buildout of the subsequent tons per day continuous flow reactor unit. The insights gained also contribute to the creation of solutions tailored to meet the specific needs and challenges encountered across different industry sectors, regions, and organizations.
The CEP is designed to showcase the real-world potential of our HCT. Central to the program is our dedication to engaging early with organizations interested in exploring and possibly adopting our innovative technology. We provide a methodical process for evaluating low-value feedstocks, highlighting their transformation into high-value resources. Our engagement spans multiple stages, from initial lab-scale bench reactor assessments to advanced testing in the continuous flow reactor, offering insights into the technology's scalability. A key feature of the CEP is the development of an extensive library that details the compositions of diverse low-value feedstock materials. Through the CEP, our goal is to cultivate partnerships with key industry stakeholders and to pave the way for upcoming commercial projects.
“The inclusion of two more participants of this calibre to our CEP marks a significant milestone for Aduro, elevating our total active projects to five,” commented Ofer Vicus, CEO of Aduro. “Each new engagement adds a unique perspective to our program, diversifies our revenue streams, and bolsters customer and investor confidence, showcasing the robust commercial potential of our Hydrochemolytic™ Technology in the global market.”
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
+1 604 362 7011
Arrowhead
Thomas Renaud, Managing Director
enquire@arrowheadbid.com
+1 212 619 6889
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. 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 adverse market conditions and 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 as a result 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/321831fb-d915-44b6-91a1-9c546a5d0812
