Aduro Clean Technologies files new patent application to transform waste plastics and renewable oils into high value BTX chemicals
04 September 2024 - 1:00PM
Aduro Clean Technologies Inc.
(“
Aduro” or the “
Company”) (CSE:
ACT) (OTCQX:
ACTHD) (FSE:
9D5), a clean technology company using the power
of chemistry to transform lower value feedstocks, including waste
plastics, heavy bitumen, and renewable oils, into resources for the
21st century, today announced a new patent filing covering a new
technology for transforming renewable oils and certain waste
plastics into higher-value platform chemicals.
“The new patent application marks significant
progress towards a key objective set out by Aduro at the beginning
of the year, the expansion of the Company’s technology and
intellectual property position,” said Ofer Vicus, CEO of Aduro. “It
underscores our scientists’ ability and commitment to pursuing
value through innovative solutions, enabling us to explore new
potential market opportunities. This achievement also highlights
our dedication to developing and commercializing sustainable
technologies aimed to address growing global concerns for the
environment and circularity.”
This new patent application filing introduces an
innovative and efficient method for producing alkyl aromatic
compounds, including benzene, toluene, xylenes (BTX), and
ethylbenzene, from waste plastics and renewable oils. This process
is not only simpler, more efficient, and more cost-effective
compared to traditional BTX production from refined petroleum but
also builds on the Company’s previously developed and patented
thermocatalytic deoxygenation (TCD) technology for upgrading
renewable oils. Additionally, it leverages insights gained from the
Company's experience with Hydrochemolytic™ Technology (HCT) for
chemical recycling of waste plastic resulting in a robust solution
that enhances circularity and sustainability.
BTX compounds are essential building blocks for
a wide array of high-value chemicals and materials, including
plastics, paints, sealants, coatings, and pharmaceuticals. Aromatic
chemicals like BTX are key building blocks, accounting for 40% of
petrochemical production by volume. According to Reports and Data,
the global BTX market is forecasted to reach a potential US$274.78
billion by 2027. With growing demand, particularly in emerging
economies, the emphasis on technological innovation and
sustainability becomes increasingly vital.
The Aduro invention, which produces BTX from
renewable and waste sources, presents what could be a
transformative opportunity for sustainable chemical production.
This innovation not only aims to reduce dependence on petroleum but
also to promote circularity within the industry.
“This new patent application filing formally
expands the Aduro 'Clean Technologies' theme beyond its unique
Hydrochemolytic™ technology platform. Importantly, it signals the
Company’s mission and the capability of our scientists and
engineers to continue developing consequential, new technology,”
said Marcus Trygstad, Co-Founder and Principal Scientist at Aduro.
Trygstad added, “This new innovation reinforces that Aduro is
committed to becoming a force in the sustainability arena where
waste plastics and renewable feedstocks are transformed into
materials needed by society. It’s who we are and it’s what we
do.”
This advancement marks a significant step for
Aduro in its journey towards enabling circularity within the
chemical sector. By offering a promising sustainable method for
producing BTX, Aduro’s innovation aims to open new opportunities to
meet the industry’s increasing demand for low-carbon chemical
production. As the pressure to decarbonize intensifies, this
technology positions the Company to explore new pathways for
addressing these critical challenges.
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 Hydrochemolytic™ technology
relies on water as a critical agent in a chemistry platform that
operates at relatively low temperatures and cost, a game-changing
approach that converts low-value feedstocks into resources for the
21st century.
For further information, please
contact:
Abe Dyck, Investor Relationsir@adurocleantech.com+1 226 784
8889
KCSA Strategic CommunicationsJack Perkins, Vice
Presidentaduro@kcsa.com
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.
In this news release, the forward-looking statements include, but
are not limited to, the patent application representing significant
progress towards an expansion of the Company’s technology and
intellectual property position; the Company’s ability and
commitment to pursuing value through innovative solutions; the
intention to explore new potential market opportunities; the
Company’s dedication to developing and commercializing sustainable
technologies; that the patent application will result in the patent
be granted and represent an innovative and efficient method for
transforming compounds from waste plastics and renewable oils; that
the patent, if granted, will be simpler, more efficient, and more
cost-effective technology compared to traditional methods; that the
patent will build upon and leverage insight from the Company’s
previously developed technologies; that markets for the technology
will grow as anticipated, particularly in emerging economies; that
the patent will be a transformative opportunity for sustainable
chemical production and allow for reduction in dependence on
petroleum and promote circularity within the industry; that the
patent will be a significant step for the Company in enabling
circularity in the chemical sector; the Company’s intention to
become a force in the sustainability; that the patent will position
the Company to explore new pathways for addressing decarbonization
challenges; that the patent will be granted and commercialized.
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 but are not limited to, the various factors
that may prevent or delay the patent from ever being granted,
including that the patent examination may determine the legal
requirements for a patent are not met in this case or that the
patent infringes upon existing patents of others or is otherwise
unable to be granted for various reasons; that the patent, if
granted, does not provide a solution which is commercially viable
or will be widely accepted for various reasons; that alternative
technologies may be developed by competitors which are better or
otherwise preferable for various reasons; that the patent may not
provide the solution to existing problems anticipated by the
Company; that the that progress may not continue in respect of the
development and commercialization of the Company’s technology as
expected or at all for various reasons, including the development
of new competing technologies or for other reasons; that the
Company’s business strategy may not provide a framework for
commercialization of the proposed patent and other technology as
anticipated or at all; that the Company may fail to commercialize
its technology or that its technology may not be accepted
commercially, for various reasons; that other unexpected adverse
market conditions may negatively affect the Company and its
progress, including 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 because 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8b36cd29-e77b-44c0-92ad-e1edef546b03
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