Company: Aduro Clean Technologies
Listings: CSE, OCTQB, FSE
Tickers: ACT, ACTHF, 95DO
Market cap at time of publication: 33 $ MCAD / 27 MUSD
Stock price at time of publication: $0.99 CAD / $0,80 USD
Business: Plastic recycling, bitumen upgrading, Renewable diesel & Aviation fuel
Comparable Peer evaluations:
Purecycle 1,66 BUSD
Clean Energy fuels 1,93 BUSD
Agilyx 235 MUSD
ESGFIRE Comment: Aduro Clean Technologies today (21/10 2021) released a very encouraging press release which you will find below. The main take aways that our team draws from this is the following: The Hydrochemolytic proces for plastics is progressing towards an engineering and design scope of 10 tonnes per day and this in turns means that the company is NOT waiting for the results of milestone 1 ( Showroom facility showing continous flow and third party validation ) for the process which shows confidence in the process. Secondly the company must be seeing a high demand for this type of unit (plastics) since they are spending money to design and engineer it. Thirdly the company seems to feel confident about their technology and the fact that they have run the process many times in order to be certain about a positive outcome in Milestone 1 (explained above). Polyethylene is a plastic which on today’s market is very difficult to recycle.
SARNIA, ON / ACCESSWIRE / October 21, 2021 / Aduro Clean Technologies Inc.(CSE:ACT)(OTCQB:ACTHF)(FSE:9D50)(the “Company,” “Aduro Clean Technologies“) a developer of patented water-based technologies to chemically recycle plastics and transform heavy crude and renewable oils into new-era resources and higher-value fuels, is directing Exergy Solutions (“Exergy”) to extend its process design and engineering work on Hydrochemolytic™ Bitumen Upgrading (HBU) to polyethylene upcycling.
As the Company advances toward its Hydrochemolytic™ Bitumen Upgrading (HBU) milestone, work with Exergy to design and engineer the “R3” pilot-scale HBU reactor revealed commonalities for the application of Hydrochemolytic™ Plastic Upcycling (HPU) to polyethylene (PE).
According to Matt McCulloch, Exergy VP of Clean Technology and Innovation, “Aduro Clean Technologies has a firm grip on the core Hydrochemolytic technology (HCT), which is very similar between the bitumen upgrading and PE upcycling applications. We therefore can move to process design and engineering very efficiently, beginning with the 10-tonne-per-day R3-scale pilot reactor for HBU and continuing with R3 for PE, which are the stepping-stones to even larger pre-commercial ‘R4’ plants and beyond.”
The ability to extend the HBU process engineering efforts directly to the PE application offers important efficiency gains for Exergy work and Aduro commercialization efforts. According to Ofer Vicus, CEO of Aduro Clean Technologies, “We established the underlying science of Hydrochemolytic technology (HCT) several years ago, so the critical path to commercialization does not depend on research and discovery, but on the well-established chemical engineering practices. We’re very pleased to have the benefit of Exergy engineering expertise needed to take our scientifically-grounded HCT and scale it up.”
Vicus explained further that “Achieving the First Milestone really is more of a formality that simply shows the same chemistry we’ve done a hundred times in small laboratory batch reactors also works in the regime of continuous-flow commercial systems. The nice thing is, our experience tells us it always works better, giving us great confidence as we move to R3-scale projects to process both bitumen and PE.”
About Exergy Solutions
Exergy Solutions Inc. (Exergy) is a leading supplier of engineering solutions and services that enable industry transition to a low carbon future. Exergy accelerates its clients’ development and deployment of clean-energy process technology through unique integration of rapid prototyping, field-scale piloting, digital solutions, and advanced manufacturing. Based in Calgary, Alberta, Exergy has a state-of-the-art additive manufacturing facility in the University of Calgary Life Science Innovation Hub with industrial 3D printers, post-processing solutions, and a wireless augmented & virtual reality studio. For more information, visit exergysolutions.com or follow @exergysolution on Twitter.
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 activates unique properties of water in a chemistry platform that operates at relatively low temperatures and cost – a game-changing approach that converts low-value feedstocks into 21st-century resources. With funding and support from Bioindustrial Innovation Canada, the Company has developed a pre-pilot reactor system to upgrade heavy petroleum into lighter oil. Additional information on Aduro Clean Technologies is available on the Company’s website.
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