Core Insights - Aduro Clean Technologies Inc. has appointed David Weizenbach as Chief Operating Officer effective July 1, 2025, to support the company's expansion and pilot-scale execution [1][3][4] Company Overview - Aduro Clean Technologies specializes in clean technology, transforming lower-value feedstocks such as waste plastics and heavy bitumen into valuable resources using patented water-based technologies [7] Leadership Appointment - David Weizenbach brings over 30 years of experience in engineering leadership and operations, including 25 years at NOVA Chemicals, where he developed expertise in process automation and capital project delivery [2][5] - His recent consulting role with Aduro involved operational planning and scale-up strategy, facilitating a smooth transition into the COO position [3][4] Operational Focus - Weizenbach's leadership is expected to enhance the commissioning of the Next Generation Process (NGP) pilot plant and establish a foundation for demonstration-scale facilities and commercial deployment [2][4][6] - His background in managing complex technical environments and guiding organizations through technology transitions will be crucial for Aduro's operational framework [2][6] Technology and Innovation - Aduro's Hydrochemolytic™ Technology operates at relatively low temperatures and costs, utilizing water as a critical agent to convert low-value feedstocks into higher-value resources [7]

Core Viewpoint - Aduro Clean Technologies Inc. has successfully completed an underwritten public offering, raising approximately US$1.2 million through the issuance of additional common shares and warrants, which will be utilized for research and development, construction of a demonstration-scale plant, and general corporate purposes [1][3]. Group 1: Offering Details - The company issued 142,180 common shares and 71,090 warrants, with each whole warrant exercisable into one common share at an exercise price of US$10.13, expiring three years from issuance [1][2]. - The offering was managed by D. Boral Capital LLC, which acted as the sole book-running manager [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to ongoing research and development costs, expenditures for the construction of the demonstration-scale plant, and any remaining funds for general corporate purposes and working capital [3]. Group 3: Regulatory Information - The offering was conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) and a Canadian short form base shelf prospectus, both effective as of May 28, 2025 [4][5]. - The securities were offered and sold exclusively in the United States, with no sales to Canadian purchasers [4]. Group 4: Company Overview - Aduro Clean Technologies specializes in patented water-based technologies aimed at chemically recycling waste plastics, converting heavy crude and bitumen into lighter oil, and transforming renewable oils into higher-value fuels or chemicals [8]. - The company's Hydrochemolytic™ Technology utilizes water as a key agent in a low-temperature chemistry platform, providing a cost-effective solution for converting low-value feedstocks into valuable resources [8].

Core Viewpoint - Aduro Clean Technologies Inc. has successfully closed a public offering, raising approximately US$8 million to support its clean technology initiatives, particularly in research and development and the construction of a demonstration-scale plant [1][2]. Group 1: Offering Details - The public offering consisted of 947,868 common shares and accompanying warrants to purchase 473,934 common shares, priced at US$8.44 per share [1]. - Each whole warrant has an exercise price of US$10.13 and is exercisable immediately, expiring three years from issuance [1]. - The underwriters have a 45-day over-allotment option to purchase an additional 142,180 common shares and/or warrants for an additional 71,090 common shares [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to ongoing research and development costs, expenditures for the construction of the demonstration-scale plant, and general corporate purposes and working capital [2]. Group 3: Regulatory Information - The offering was conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) and a Canadian short form base shelf prospectus [4]. - The Base Shelf Prospectus has been filed with applicable securities commissions in Canada and the SEC, and is available for public access [5].

Core Viewpoint - Aduro Clean Technologies Inc. has announced a public offering of 947,868 common shares at a price of US$8.44 per share, aiming to raise approximately US$8 million for research and development, construction of a demonstration-scale plant, and general corporate purposes [1][2]. Group 1: Offering Details - The offering includes 947,868 common shares and accompanying warrants to purchase 473,934 common shares, with each whole warrant exercisable at US$10.13 and expiring three years from issuance [1]. - The offering is managed by D. Boral Capital LLC as the sole book-running manager [2]. - An over-allotment option allows underwriters to purchase an additional 142,180 common shares and/or warrants for 71,090 common shares within 45 days [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to ongoing research and development costs, expenditures for the construction of a demonstration-scale plant, and any remaining funds for general corporate purposes and working capital [2]. Group 3: Regulatory Information - The offering is conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) and a Canadian short form base shelf prospectus [4]. - The base shelf prospectus has been filed with applicable securities commissions in Canada and the SEC, and is available for public access [5]. Group 4: Company Overview - Aduro Clean Technologies specializes in patented water-based technologies for recycling waste plastics, converting heavy crude into lighter oil, and transforming renewable oils into higher-value fuels or chemicals [7]. - The company's Hydrochemolytic™ Technology utilizes water as a key agent in a low-temperature chemistry platform, aiming to convert low-value feedstocks into valuable resources for the 21st century [7].

Core Viewpoint - Aduro Clean Technologies Inc. has engaged Delphi to conduct a Life Cycle Assessment (LCA) of its Hydrochemolytic™ technology for waste plastic processing, aiming to quantify its environmental performance and support its commercialization strategy [1][2][5]. Group 1: Company Overview - Aduro Clean Technologies is focused on transforming lower-value feedstocks, such as waste plastics and heavy bitumen, into valuable resources using patented water-based technologies [7][8]. - The Hydrochemolytic™ technology operates at relatively low temperatures and costs, positioning it as a game-changing approach in the clean technology sector [8]. Group 2: Life Cycle Assessment (LCA) Details - The LCA will begin with a screening-level assessment focusing on greenhouse gas (GHG) emissions and energy use, following ISO 14040 and 14044 frameworks [3][4]. - Subsequent phases will incorporate operational data from the Next Generation Process (NGP) pilot plant, leading to a comprehensive ISO-compliant assessment of all life cycle stages [4]. - The final phase is expected to benchmark the Hydrochemolytic™ process against other chemical recycling methods, providing a comparative analysis of environmental impacts [4]. Group 3: Strategic Importance - The LCA is part of Aduro's strategic roadmap to align its innovation strategy with the expectations of regulators, customers, and investors in the circular economy [3][5]. - Engaging a reputable firm like Delphi for the LCA work is intended to provide credible, third-party-reviewed information that can enhance stakeholder engagement and operational efficiency [2][5].

Core Viewpoint - Aduro Clean Technologies Inc. has entered into a market-making agreement with Generation IACP Inc. to enhance the liquidity of its shares on the Canadian Securities Exchange [1][2]. Group 1: Agreement Details - The agreement with Generation IACP is effective from May 12, 2025, and is set for an initial term of six months, automatically renewing for successive six-month periods unless terminated with 30 days' notice [2]. - Generation will receive a monthly fee of US$8,000 during the initial term, increasing to US$9,000 for the first renewal term, and thereafter will increase by 3% annually on each anniversary of the agreement [3]. - Generation is independent of Aduro and does not currently own any securities of the company, although it may acquire interests in the future [4]. Group 2: Company Background - Aduro Clean Technologies specializes in patented water-based technologies aimed at recycling waste plastics, converting heavy crude into lighter oil, and transforming renewable oils into higher-value fuels or chemicals [6]. - The company's Hydrochemolytic™ Technology utilizes water as a key agent in a low-temperature chemistry platform, which is designed to convert low-value feedstocks into valuable resources for the 21st century [6]. Group 3: Market Context - The CFO of Aduro noted an increasing interest from both institutional and retail investors, indicating a positive market sentiment towards the company's growth story [5].

Core Insights - Aduro Clean Technologies Inc. has signed a Memorandum of Understanding with Cleanfarms Inc. to evaluate the feasibility of its Hydrochemolytic™ Technology for recycling agricultural plastic waste [1][2] - The collaboration aims to address the challenges of recycling agricultural plastics, which are often contaminated and have limited end-of-life options [2][3] - The project will progress through three phases: laboratory feasibility trials, scale-up and process modeling, and potential integration into a demonstration plant [3][4][5] Group 1: Collaboration Overview - The MOU outlines a multi-phase collaboration to assess the technical and economic feasibility of using Aduro's Hydrochemolytic™ Technology for chemical recycling of on-farm plastic waste [1][2] - Cleanfarms operates within Extended Producer Responsibility frameworks and has a strong network for managing agricultural waste, making it a critical partner for Aduro [2][8] - The collaboration aims to convert difficult-to-recycle agricultural plastics into usable hydrocarbon products, enhancing resource recovery and circularity in agriculture [2][3] Group 2: Phases of Collaboration - **Phase A**: Laboratory feasibility trials will involve testing agricultural plastic waste samples to assess sorting, pre-treatment requirements, and processing efficiency [4] - **Phase B**: This phase will focus on scale-up trials using larger volumes of agricultural plastics, evaluating system performance and developing a techno-economic model [5] - **Phase C**: Contingent on successful outcomes from Phases A and B, this phase will explore the integration of agricultural plastics as feedstock in Aduro's planned demonstration plant [6][7]

Core Insights - Aduro Clean Technologies Inc. has announced a strategic collaboration with Siemens Canada to integrate advanced control and data systems into Aduro's Next Generation Process Pilot Plant, aimed at advancing Hydrochemolytic™ Technology towards industrial readiness [1][3] Group 1: Collaboration Details - Siemens will supply its SIMATIC PCS neo distributed control system, which is a web-based platform providing centralized, secure, and scalable process control for the Pilot Plant [2] - The collaboration includes Siemens providing instrumentation, operator interfaces, and engineering services to support the commissioning and performance optimization of the Pilot Plant [2][5] - Siemens will also contribute technical input for the design of a future Demonstration Plant as part of the collaboration [2][5] Group 2: Technology and Process - Hydrochemolytic™ Technology developed by Aduro uses water as a reactive medium at moderate temperatures to cleave carbon bonds in polymers, offering a more controlled and efficient process compared to traditional pyrolysis [3][8] - The Pilot Plant is designed as a fully instrumented, continuous-flow unit to validate the Hydrochemolytic™ process under real-world conditions, providing essential data for future commercial facilities [3][4] Group 3: Strategic Importance - The partnership with Siemens enhances Aduro's ability to scale its chemical recycling solutions, aligning with the principles of a circular economy and supporting long-term growth [4][6] - Siemens' PCS neo platform will enable real-time visibility and control, which are critical for optimizing plant performance and facilitating the transition from pilot to commercial-scale operations [5][6]

Aduro Clean Technologies Inc. Interim Condensed Consolidated Financial Statements For the three and nine months ended February 28, 2025 (Unaudited) (Expressed in Canadian Dollars) Aduro Clean Technologies Inc. Consolidated Statements of Financial Position Expressed in Canadian Dollars | | | February 28, 2025 | | May 31, 2024 | | --- | --- | --- | --- | --- | | ASSETS | | | | | | Current | | | | | | Cash and cash equivalents | $ | 8,362,459 | $ | 2,814,576 | | Deposits and prepaid expenses (Note 5) | | 1,418 ...

Financial Performance - Revenue for the three months ended November 30, 2024, was $38,143, a decrease of 48% compared to $73,093 for the same period in 2023[4] - The net loss for the six months ended November 30, 2024, was $5,577,244, compared to a net loss of $3,647,780 for the same period in 2023, indicating an increase in losses of approximately 53%[6] - Revenue for the six months ended November 30, 2024, was $93,143, a decrease from $131,638 in the same period of 2023[13] - General and administrative expenses increased to $2,780,681 for the six months ended November 30, 2024, compared to $1,961,254 in the same period of 2023[15] - Total finance costs for the six months ended November 30, 2024, were $5,016, down from $6,411 in the prior year[14] Assets and Liabilities - As of November 30, 2024, total assets increased to $13,356,179 from $6,956,751 as of May 31, 2024, representing a growth of approximately 92%[2] - Cash and cash equivalents rose to $9,232,193 as of November 30, 2024, up from $2,814,576 as of May 31, 2024, marking an increase of approximately 228%[6] - The company's accumulated deficit as of November 30, 2024, was $28,473,320, up from $22,896,076 as of May 31, 2024, indicating an increase of approximately 24%[2] - The total lease liability decreased to $119,161 as of November 30, 2024, down from $138,586 as of May 31, 2024, representing a reduction of about 14%[26] - The carrying amount of property and equipment as of November 30, 2024, was $3,360,910, compared to $3,128,632 as of May 31, 2024, showing an increase of approximately 7.4%[24] Share Issuance and Capital - The company issued shares resulting in net proceeds of $3,348,844 from a private placement and $4,492,795 from a public offering during the six months ended November 30, 2024[10] - A total of 2,094,914 common shares were issued during the year ended May 31, 2024, resulting in gross proceeds of $5,345,848 from the exercise of various share warrants and options[30] - The Company completed a non-brokered private placement on June 17, 2024, issuing 834,178 units at a price of $4.225 per unit for gross proceeds of $3,524,400[32] - An underwritten U.S. public offering closed on November 8, 2024, with 941,177 common shares sold at a price of US$4.25 per share, generating gross proceeds of US$4,000,002[33] - During the six-month period ended November 30, 2024, 700,937 common shares were issued, resulting in gross proceeds of $2,411,923 from the exercise of share warrants and options[34] Research and Development - Research and development expenses for the three months ended November 30, 2024, were $1,344,696, an increase of 64% compared to $819,568 for the same period in 2023[4] - Research and development expenses rose to $2,581,871 for the six months ended November 30, 2024, from $1,613,491 in the prior year[16] - The company has developed and owns nine patents, with seven granted and two pending, focusing on environmentally responsible technology for recycling[8] Compensation and Expenses - Key management personnel compensation for the six months ended November 30, 2024, totaled $1,187,248, an increase from $1,003,380 in the same period of 2023[44] - Share-based compensation expense for the six months ended November 30, 2024, was $1,611,318, significantly higher than $850,197 in the same period of 2023[17] - The company recognized an expense of $1,611,318 for stock options during the six months ended November 30, 2024, compared to $686,697 in the same period of 2023[36] Cash Flow and Credit Risk - The total cash outflow for lease liability was $24,117 for the period ended November 30, 2024, compared to $52,345 for the previous period, indicating a significant reduction in cash outflow[26] - The company reported a net US dollar exposure of $(3,514,976) as of November 30, 2024, compared to $37,507 on May 31, 2024[53] - The maximum exposure to credit risk was $9,459,881 as of November 30, 2024, up from $3,066,515 on May 31, 2024[54] - The company’s exposure to credit risk related to other receivables is disclosed in Note 18, highlighting the importance of monitoring credit risk management strategies[23]