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Aduro Clean Technologies Reports First Quarter Fiscal 2026 Results and Provides Business Update
Globenewswire· 2025-10-16 11:00
Core Insights - Aduro Clean Technologies Inc. is advancing towards commercial readiness with significant progress in the construction of its Next Generation Process (NGP) Pilot Plant and the initiation of commissioning activities [2][16][17] - The company has strengthened its financial position through a public offering, raising approximately US$9.2 million, which will support ongoing projects and research initiatives [8] - The first quarter of fiscal 2026 showed a decrease in revenue and an increase in operational losses, attributed to higher non-cash expenses and increased R&D activities [6][7] Financial Highlights - Revenue for Q1 FY2026 was CAD $44,500, a 19% decrease from CAD $55,000 in Q1 FY2025 [6][7] - Loss from operations was CAD $6,325,018 for Q1 FY2026, compared to CAD $2,462,532 for Q1 FY2025, marking a 157% increase [6][7] - Adjusted EBITDA for Q1 FY2026 was CAD $(2,254,384), compared to CAD $(1,746,748) for Q1 FY2025, reflecting a 29% increase in losses [6][7] Operational Developments - The NGP Pilot Plant is entering the commissioning phase, with significant milestones achieved in construction and system integration [16][17][18] - The company has initiated a global site-selection process for its planned Demonstration Plant, focusing on locations in Canada, Europe, and Mexico [2][21] - Testing of synthetic turf waste as a feedstock for the Hydrochemolytic™ Technology has been completed, demonstrating the technology's adaptability [13] Leadership and Strategic Initiatives - Aduro appointed David Weizenbach as Chief Operating Officer to enhance operational execution and support the commissioning of the NGP Pilot Plant [9] - The company has engaged in industry collaborations, joining the Plastics Industry Association and the Polystyrene Recycling Alliance to advance recycling solutions [11] - A marketing and investor awareness program has been launched to increase brand visibility and stakeholder engagement [14][15] Subsequent Events - The commissioning of the NGP Pilot Plant began in September 2025, transitioning from construction to operational readiness [17][18] - The company participated in various investor and technical conferences to update stakeholders on its progress and technology [19][20]
Aduro Clean Technologies to Participate in the LD Micro Main Event XIX Conference
Globenewswire· 2025-10-07 11:00
Core Points - Aduro Clean Technologies Inc. announced participation in the LD Micro Main Event XIX Conference in San Diego from October 19-21, 2025 [1] - The conference is a significant independent investment event, featuring presentations and networking opportunities for growth-stage businesses [2] - Aduro's management will hold one-on-one meetings with investors to discuss the company's strategy and technology development [3] Company Overview - Aduro Clean Technologies specializes in patented water-based technologies for recycling waste plastics and converting heavy crude into lighter oil [4] - The company's Hydrochemolytic™ Technology utilizes water as a key agent, operating at low temperatures and costs, transforming low-value feedstocks into valuable resources for the 21st century [4]
X @Bloomberg
Bloomberg· 2025-09-17 22:10
Exxon is shelving investments in chemical recycling in Europe due to what the energy giant says are overly restrictive rules on plastics https://t.co/1Mn2MTtBL8 ...
GreenMantra receives $10M loan from Closed Loop infrastructure group
Yahoo Finance· 2025-09-17 13:29
Group 1 - Chemical recycling, also known as molecular or advanced recycling, is a range of technologies that process plastics down to their molecular building blocks for new product use [3] - Closed Loop Infrastructure Group emphasizes the need for diversified solutions, including mechanical and molecular recycling technologies, to optimize plastics recovery in North America [4] - The firm is focused on funding and monitoring chemical recycling projects as part of its Circular Plastics investment strategy, which aims to improve polypropylene (PP) and polyethylene (PE) recovery in the U.S. and Canada [5] Group 2 - GreenMantra Technologies, a Canadian chemical recycling company, has received a $10 million loan from Closed Loop Infrastructure Group to enhance its processing capabilities [8] - The loan will enable GreenMantra to purchase new equipment and is expected to increase the output of specialty products by about 50% [8] - GreenMantra utilizes a depolymerization process to convert hard-to-recycle PE and PP plastics into specialty waxes and polymer additives [8]
Aduro Clean Technologies Reports Fourth Quarter and Fiscal Year 2025 Results and Provides Business Update
Globenewswire· 2025-08-28 11:00
Core Insights - Aduro Clean Technologies Inc. reported significant advancements in its strategic initiatives during fiscal year 2025, including the construction of its Pilot Plant and expanded feedstock testing [2][5][17] - The company experienced a 31% decrease in revenue year-over-year, totaling CAD $231,212 for fiscal year 2025, while operational losses increased by 63% to CAD $12,145,790 [4][5] - Aduro's financial position remains strong, with a cash balance of CAD $6.96 million at year-end, up 147% from the previous year [6][5] Financial Performance - Revenue for Q4 2025 was CAD $74,670, a 27% decrease from CAD $102,250 in Q4 2024 [5] - The total revenue for fiscal year 2025 was CAD $231,212, down from CAD $337,516 in fiscal year 2024 [4][5] - Loss from operations for Q4 2025 was CAD $3,716,774, compared to CAD $1,792,219 in Q4 2024 [5] Operational Developments - The construction of the NGP Pilot Plant is progressing, with commissioning activities expected to begin in September 2025 [2][15][16] - Aduro signed a Memorandum of Understanding (MOU) with NexGen Polymers to explore the development of a demonstration-scale HCT plant [7][8] - A strategic collaboration with Siemens Canada was established to enhance automation and control systems for the Pilot Plant [9][10] Feedstock and Technology Innovations - Aduro is testing synthetic turf waste using Hydrochemolytic™ Technology, showing promising results in converting complex materials into shorter-chain hydrocarbons [22][23] - An MOU with Cleanfarms Inc. was signed to evaluate agricultural plastics that are difficult to recycle, aiming to generate data on the feasibility of HCT for these materials [11][12] - The company engaged Delphi for a Life Cycle Assessment of HCT, focusing on its environmental impact compared to traditional recycling methods [13][14] Strategic Partnerships and Industry Engagement - Aduro joined the Plastics Industry Association and the Polystyrene Recycling Alliance to enhance its network and collaboration opportunities within the recycling sector [20][21] - The company appointed David Weizenbach as Chief Operating Officer to strengthen operational leadership during the transition to pilot-scale execution [18][19]
Aduro Clean Technologies Provides Update on NGP Pilot Plant Progress
Globenewswire· 2025-08-14 11:00
Core Viewpoint - Aduro Clean Technologies Inc. is progressing on the NGP Pilot Plant, which is crucial for validating its Hydrochemolytic™ Technology and advancing towards commercialization [1][10]. Group 1: NGP Pilot Plant Overview - The NGP Pilot Plant aims to validate Hydrochemolytic™ Technology in continuous operation, establish operating parameters, and produce product samples for customer evaluation [2][10]. - The pilot plant will confirm mass and energy balances, yields, and controllability, and will support environmental assessments and lifecycle analyses [2][10]. Group 2: Project Progress - Work on the NGP Pilot Plant is on schedule, with major workstreams progressing in parallel, including equipment delivery and system integration [3][10]. - Site preparations at the London laboratory have been completed, including modifications to meet safety standards and regulatory requirements [5][10]. Group 3: Equipment and Systems - Factory Acceptance Testing for the extruders has been completed, confirming their readiness for site delivery [6]. - Zeton has received all major long-lead components for the reactor and cooling systems, with assembly of modular process skids underway [7]. - Siemens has shipped critical automation and electrical components, with integration work on control systems on schedule [8]. Group 4: Feedstock and Partnerships - Feedstock preparation is in progress, with Aduro and its partner NexGen Polymers securing representative waste-plastic streams and other process inputs [9].
Aduro Clean Technologies Investigates Chemical Recycling Pathway for Synthetic Turf Waste
Globenewswire· 2025-07-31 11:00
Core Viewpoint - Aduro Clean Technologies Inc. has successfully tested synthetic turf as a feedstock for its Hydrochemolytic™ Technology, highlighting the potential for chemical recycling of complex waste streams that traditional methods struggle to process [1][3][5]. Company Summary - Aduro Clean Technologies focuses on transforming lower-value feedstocks, such as waste plastics and heavy bitumen, into valuable resources using its proprietary Hydrochemolytic™ Technology [1][10]. - The company is currently developing a Next Generation Process (NGP) Pilot Plant designed to process a variety of feedstocks, with insights from synthetic turf testing informing future operations [8]. Industry Summary - The synthetic turf recycling market is projected to grow from USD 1.8 billion in 2025 to approximately USD 5.9 billion by 2032, with a compound annual growth rate (CAGR) of about 15.8% [5]. - Synthetic turf, widely used in sports fields and landscaping, presents a complex waste stream due to its multilayer construction and bonded components, making it difficult for traditional recycling methods [5][6]. - The textile industry generates approximately 92 million tons of waste globally each year, with carpets representing another complex waste stream that could benefit from chemical recycling solutions [6].
Aduro Clean Technologies and Cleanfarms Sign Memorandum of Understanding to Collaborate on Development of Commercial Pathway for Challenging Agricultural Plastics
Globenewswire· 2025-05-08 11:00
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]