Aduro Clean Technologies

Canada-based Aduro Clean Technologies transforms plastic waste into valuable feedstocks to produce new plastics or transportation fuels using its chemical conversion technology. The company engages in Hydrochemolytic Plastics Upcycling (HPU), which converts sorted and unsorted plastic waste into fuels and chemicals. It also offers Hydrochemolytic Bitumen Upgrading (HBU), which transforms heavy crude oil and bitumen into lighter crude, and Hydrochemolytic Renewables Upgrading (HRU), which converts renewable oils into renewable drop-in fuels, biojet fuel, and specialty chemicals.

The company claims that HCT leverages the unique properties of water in a chemistry system that transforms large molecules of low value into smaller molecules of higher value (materials with undesirable characteristics are converted into more valuable materials). Further, the company asserts that HCT-based processes operate at low temperatures of 240°C–390°C, making them less energy-intensive and allowing more selective chemical reactions. The company commissioned and started operating its pilot-scale Hydrochemolytic continuous flow plastic (R2 Plastic) reactor in March 2023. The company also made significant progress with the pilot-scale continuous flow reactor for Hydrochemolytic Bitumen Upgrading (R2 Bitumen) and initiated its commissioning, anticipating full operation in Q3 2023.

In June 2023, the company established a European subsidiary, Aduro Clean Technologies Europe (ACTE), in Geleen, Netherlands.

Key customers and partnerships

In September 2022, the company's wholly-owned subsidiary, Aduro Energy, entered a Letter of Intent with Prospera Energy to develop, build, and supply a pre-commercial pilot plant to convert low API bitumen to higher-value products. In March 2023, Aduro Clean Technologies partnered with Chemelot Innovation and Learning Labs (CHILL) to execute an experimentation program at the Brightlands Chemelot Campus in Geleen, Netherlands.

Funding and financials

The company reported a net loss of CAD 5.8 million (~USD 4.3 million) in FY2023 (year ended in May 2023). 

In April 2023, the company closed its non-brokered private placement issuing 4,222,056 units at CAD 0.93 (~USD 0.7) each, totaling gross proceeds of ~CAD 3.9 million (~USD 2.9 million). The funds were allocated for R&D of chemical recycling technologies and general administrative expenses.