Company: Aduro Clean Technologies
Listings: CSE, OCTQB, FSE
Tickers: ACT, ACTHF, 95DO
Market cap at time of publication: 32,5 $ MCAD / 26 MUSD
Stock price at time of publication: $0.96 CAD / $0,77 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: We are positively suprised that Aduro has already found a respected partner for their Hydrochemolytic™ technology (HCT) to demonstrate, on a tons per day scale, the conversion of polyethylene (PE) waste to useful feedstock for chemical processes. As we have written before Polyethylene is extremely difficult to recycle and is not , on a large scale being recycled today. We had not anticipated Aduro to find a partner and begin constructing a pilot for their plastics recycling until mid 2022 so this is indeed welcomed news. The pilot will provide valuable insights to Aduro on economics, feedstock and end product quality . As the press release states” The project represents a natural progression for Aduro following its imminent attainment of the First Milestone”. The most exciting part of the release is the following “Aduro anticipates the project will progressively expand the application of HCT to also upcycle polypropylene, polystyrene, and other diverse types of plastic, then leverage other technologies as needed to further maximize resource recovery for the circular economy.” We do not expect significant revenues from this project however it gives valuable verification of the potential for plastics recycling for Aduro.
We also recommend all our subscribers to read the interview with Abe Dyke, Vice President of Strategy & Business development at Aduro conducted by made by PennyQueen which gives more context to the meaning of this project. The interview can be found HERE.
Sarnia, ON, November 2, 2021 – Aduro Clean Technologies Inc. (“Aduro”, or the “Company”) (CSE: ACT) (OTCQB: ACTHF) (FSE: 9D50), a Canadian 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, announces a pending partnership with Brightlands Chemelot Campus (“Brightlands”) an international shared innovation community located in Limburg, the Netherlands.
The objective of this partnership is to complete an installation that applies Aduro Hydrochemolytic™ technology (HCT) to demonstrate, on a tons per day scale, the conversion of polyethylene (PE) waste to useful feedstock for chemical processes. Interest in this project by Brightlands is a result of its comprehensive and detailed review of HCT. The review concluded that HCT offers distinct advantages over traditional pyrolysis for bringing PE into the circular economy through chemical recycling to obtain valuable, high-purity products, such as value-added chemicals or feedstock for production of new, virgin PE.
“After reviewing the Aduro technology and interviewing its experts over the past 12 months, we feel the HCT-based solution provides certain benefits compared to alternatives. Therefore, we are very excited about the possibility for advancing this important technology to a commercial scale and establishing it as a valuable solution to the waste plastic problem,” says Eric Appelman, Director of Business Development at the Brightlands Chemelot Campus for Industrial Upscaling.
“Aduro HCT is a valuable addition to the innovative technologies that are being scaled up at Brightlands as part of the Chemelot Circular Hub. It offers benefits due to the low temperature process, high yield, lack of aromatics formation, and ability to use inexpensive feedstocks and catalysts,” adds Lucie Wenmakers, Business Development Manager at Brightlands.
Aduro will provide the technical expertise required to build the pilot plant. Brightlands will host the pilot plant within its Sustainable Processes and Materials ecosystem by providing the physical location, utilities, and services, and it will also provide support to anchor the technology in Europe by facilitating relationships with supply chain, knowledge, and funding partners.
The project represents a natural progression for Aduro following its imminent attainment of the First Milestone. “Achieving the First Milestone requires us to simply show that the Hydrochemolytic™ chemistry, proven for years in small laboratory batch reactors, will also work in the continuous-flow mode needed for commercial systems. Our experience tells us that the operation of HCT in continuous processing should work even better than in batch, giving us great confidence as we progress toward commercialization,” explains Ofer Vicus, CEO of Aduro.
Both Appelman and Vicus agree that, due to the chemical diversity of plastics, a comprehensive strategy for resource recovery from waste plastics will rely on a combination of technologies configured to optimize value in consideration of local and regional factors. Thus, Aduro anticipates the project will progressively expand the application of HCT to also upcycle polypropylene, polystyrene, and other diverse types of plastic, then leverage other technologies as needed to further maximize resource recovery for the circular economy.
About Brightlands Chemelot Campus
Brightlands Chemelot Campus is Europe’s leading location for companies, research, and knowledge institutes in the field of chemistry and materials, located in Geleen, the Netherlands, with Belgium, Germany, France, and Luxembourg just around the corner. In addition to cutting-edge research and development in the field of high-performance materials, sustainable processes and biomedical solutions, Brightlands’ portfolio also includes targeted support for industry-specific start up companies. The R&D campus is considered number one in Europe for sustainable innovations. More information at https://www.brightlands.com/en/brightlands-chemelot-campus
About Aduro Clean Technologies
Aduro Clean Technologies Inc. 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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