Aduro Clean Technologies Inc
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Based in Canada
Company profile

Aduro Clean Technologies Inc. is a Canada-based clean technology company. The Company is a developer of 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. Its chemical recycling platform features three water-based technologies: Hydrochemolytic Plastics Upcycling (HPU), Hydrochemolytic Renewables Upgrading (HRU) and Hydrochemolytic Bitumen Upgrading (HBU). The Company’s HPU transforms plastics into useful feedstocks in the circular economy for production of new plastics and foams, paints and coatings, and detergents, or into high performance fuels. Its HRU transforms renewable oils into renewable motor fuels, bio-jet fuel, and specialty chemicals at relatively low temperatures. Its HBU transforms heavy crude oil and bitumen into light synthetic crude co-processing biobased feedstocks, such as cellulose or glycerol.

Closing Price
$0.53
Day's Change
0.04 (8.16%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.53
Day's Low
0.4947
Volume
(Heavy Day)
Volume:
32,500

10-day average volume:
11,948
32,500

Aduro and Switch Energy Enter into LOI for Pilot Plant and Waste Plastic Feedstock Supply

5:15 pm ET March 29, 2022 (Accesswire) Print

SARNIA, ON / ACCESSWIRE / March 29, 2022 / 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, is pleased to announce that it has entered into a Letter of Intent ("LOI") dated March 28th, 2022 with Switch Energy Corp ("Switch Energy") with the purpose of developing, building and supplying a pre-commercial pilot plant to convert waste agricultural polyethylene into high-value products.

Switch Energy is a recycler and operator participating in Canada's agricultural & industrial film recycling program by owning and operating the largest collection program for agricultural waste in the province of Ontario. With over a decade of experience with the collection of agricultural waste, design and development of plastic washing, mechanical shredding, feed systems set-up, and product offtake sales and marketing, making it an ideal partner for this pilot plant.

Aduro has developed a unique process to transform post-consumer waste plastics into high-value input chemicals supporting a zero-waste & resource circularity model. Plans for the pilot are to start with waste polyethylene from agricultural waste followed by polypropylene as well as to demonstrate the technological benefits of processing waste polystyrene. The small-scale design represents an opportunity to provide a cost-effective solution to the agricultural waste sector. Harvesting value from this waste resource while avoiding fuel, emissions, and other environmental costs associated with the processing and transporting to centralized facilities, incineration, or landfill.

The pilot plant will be scaled at a tons-per-day capacity. The LOI outlines a stage gated plan with three main phases. Phase one, which will commence immediately, includes the design and development of a pre-treatment process and unit to handle agricultural waste plastics, test runs, and process optimization, and the provision of the feedstock required. Phase two includes the design, building, and commissioning of the pilot plant with phase three detailing the framework for expanding the pilot project into a post-pilot commercial phase.

"After an in-depth review of their technology, I am excited to see the performance of the Aduro solution. Their technology is versatile enough to process other types of waste plastics and deal with contaminates, making it an ideal solution for agricultural waste. I believe that this will be the way forward in our sector and we like to see it successfully operating and expanding into other geographies." says Don Nott, founder, and chief executive officer of Switch Energy.

"We are moving forward in our plans to build a pre-commercial pilot. The work with Switch Energy will help us better understand critical items related to material handling, collection systems, pre-treatment, or washing. We are very excited by this collaboration which complements Aduro's extensive technology and process expertise." says Ofer Vicus, chief executive officer of Aduro.

Both Mr. Nott and Mr. Vicus agree that effective smaller-scale solutions could demonstrate a shorter more beneficial path towards circularity which could also result in other benefits such as increased local employment and a stronger connection between waste producers and operations that use and create value out of the final products within the same region.

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 HydrochemolyticT 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.

About Switch Energy

Switch Energy is an Ontario-based company with over a decade of experience in recycling polyethylene and polypropylene waste plastic. Operating across Southwestern Ontario, the company collects materials directly from agricultural, horticultural, and marine business operations. Switch Energy has extensive experience shredding, washing, and recycling waste plastic into resin used in various plastics applications.

For further information, please contact:

Ofer Vicus, CEO

ovicus@adurocleantech.com

Don Nott, CEO

dnott@switchenergycorp.com

ir@adurocleantech.com

+1 604-362-7011

Investor Cubed Inc.

Neil Simon, CEO

nsimon@investor3.ca

+ 1 647 258 3310

Forward-Looking Statements

This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. The forward-looking statements reflect management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions and other factors beyond the control of the parties. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved, or disapproved the content of this news release.

SOURCE: Aduro Clean Technologies Inc.





View source version on accesswire.com:

https://www.accesswire.com/695148/Aduro-and-Switch-Energy-Enter-into-LOI-for-Pilot-Plant-and-Waste-Plastic-Feedstock-Supply



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COMTEX_404955406/2457/2022-03-29T17:15:27

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