Aduro Clean Technologies Inc.
(“
Aduro” or the “
Company”)
(NASDAQ:
ADUR) (CSE:
ACT)
(FSE:
9D5), a clean technology company using the
power of chemistry to transform lower value feedstocks, like waste
plastics, heavy bitumen, and renewable oils, into resources for the
21st century, is pleased to announce its engagement of Zeton Inc.
(“Zeton”)
Zeton is a globally recognized leader in the
design and fabrication of pilot plants, demonstration plants, and
small-scale commercial units. With over 800 projects delivered
across 45+ countries, the company brings unmatched expertise and
scale to the industry. Leveraging over three decades of experience,
Zeton specializes in bridging the gap between laboratory innovation
and commercial production. Its proven track record, global reach,
and precision engineering capabilities position it as a trusted
partner for Aduro.
Together, Zeton and Aduro will design, build,
and commission a pilot plant for Aduro’s proprietary
Hydrochemolytic™ Technology (“HCT Pilot Plant”), marking a key
milestone in Aduro’s commercialization pathway for transforming
waste plastics into valuable chemicals. Previously referred to as
the “Next Generation Process (NGP),” this 10 kg/hour HCT Pilot
Plant represents Aduro’s evolved focus on right-sized, modular, and
scalable solutions. A key objective for 2024 has been the
completion of the pilot plant design, which remains on schedule.
Fabrication, delivery, installation, and commissioning are targeted
for Q3 2025. Concurrently, site preparation, staff training, and
materials sourcing are progressing to ensure alignment with the
project timeline.
Aduro’s HCT Pilot Plant, to be located at the
Company’s facility in London, Ontario, marks the next phase in
Aduro’s strategic plan to scale its Hydrochemolytic™ Technology
(HCT) toward full commercialization. This pilot plant will build
upon the Company’s years of extensive research aimed at optimizing
the requirements for HCT at a commercial scale. Designed with
modularity and scalability at its core, the HCT Pilot Plant will
enable Aduro to define optimal configurations of its unique reactor
system to process each of the many local variations in the wide
range of feedstocks that are suitable for the Hydrochemolytic™
Technology process, making it highly suited to project-specific
needs across diverse customer applications. This flexibility is
especially valuable to Aduro’s current and prospective
collaborators, who are exploring the use of advanced chemical
recycling across a wide range of plastic waste feedstocks, each
with unique characteristics and requirements.
“Our engagement with Zeton adds significant
engineering capabilities. We are excited and feel that we are in a
strong position to accomplish our goals working with such an
experienced global leader,” said Ofer Vicus, CEO of Aduro. “Our HCT
Pilot Plant will serve as a key platform for validating HCT’s
performance in real-world conditions, bringing us closer to the
design and construction of a commercial demonstration plant,”
continued Vicus. “As this pilot project advances, we look forward
to deeper collaboration with our potential strategic partners and
leaders in the plastics industry, positioning Aduro for long-term
value creation.”
“Our engagement with Aduro represents a real
opportunity to demonstrate the scalability and viability of
Hydrochemolytic™ Technology, which is part of the increasing demand
for advanced recycling solutions and the global shift towards
sustainable plastics recycling methods,” added Dr. Leisl
Dukhedin-Lalla, President, and CEO of Zeton. “Our role in bringing
this innovative solution closer to commercialization aligns with
our shared vision of providing sustainable, impactful technologies
that address global environmental challenges.”
About Zeton Inc.
Zeton is a recognized world leader in the design
and fabrication of lab scale systems, pilot plants, demonstration
plants and small modular commercial plants using modular
fabrication. The company serves a wide range of industries and
applications including oil & gas, polymers, chemicals, synfuels
and alternative energy, bioenergy and biofuels, pharma and biotech,
mining and hydromet, fine chemicals, environmental and sustainable
chemistry. Process modules are engineered and fabricated at ZETON’s
two state-of-the-art, integrated design-build facilities in
Oakville, Ontario, Canada and Enschede, The Netherlands. They can
be shipped virtually anywhere in the world for field installation.
Learn more at www.zeton.com.
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. Learn more at www.adurocleantech.com.
For further information, please contact:
Abe Dyck, Investor Relationsir@adurocleantech.com+1 226 784
8889
KCSA Strategic CommunicationsJack Perkins, Vice
Presidentaduro@kcsa.com
Zeton Inc.David Edwards, Vice President Sales &
Marketingdedwards@zeton.com+1 905 632 3123
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. In this news release, the
forward-looking statements include, but are not limited to, the
anticipated design and fabrication of the HCT Pilot Plan through
the engagement of Zeton; the expectation that the design and
development of the HCT Pilot Plant will demonstrate Aduro’s
modular, scalable solutions for converting waste plastics into
valuable chemicals; that the design and development of the HCT
Pilot Plant will strengthen Aduro’s pathway to full
commercialization; that the design for the HCT Pilot Plant will be
completed prior to the end of 2024; that the commissioning for the
construction of the HCT Pilot Plant will occur in Q3 of 2025; that
site preparation, training, materials handling and related
activities for development of the HCT Pilot Plant will occur on the
same timeline; that the development of the HCT Pilot Plant will
allow scaling of the Company’s technology towards full
commercialization; that the design and development of the plant
will build upon the Company’s years of intensive research aimed to
optimize the requirements of the technology at a commercial scale;
that the plant will be designed with modularity and scalability,
enabling demonstration of adaptable processing approaches for a
wide range of feedstock types, making it suitable to project
specific needs across diverse customer applications; that the
plant’s flexibility will be valuable for Aduro’s existing and
prospective collaborators who are exploring advanced recycling and
feedstock processing solutions; that the engagement of Zeton will
add significant engineering capabilities and allow the Company to
accomplish its goals; that the HCT Pilot Plant will serve as a key
platform for validating the technology in real-world conditions;
that the plant will advance the Company closer to the design and
construction of a commercial scale plant; that the project will
lead to deeper collaboration with potential strategic partners and
leaders in the plastics industry and position the Company for long
term value creation; that Zeton’s engagement will advance the
Company’s technology closer to commercialization and align with its
vision to provide sustainable and impactful technology that
addresses global environmental challenges. 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, but are not limited to, that there may be
unanticipated challenges in the design and fabrication of the HCT
Pilot Plan; that Zeton may be unable to complete the engagement for
various reasons; that Aduro may lack funds to complete the HCT
Pilot Plant and be unable to raise sufficient financing on
satisfactory terms or at all to complete the project; that the
design and development of the HCT Pilot Plant may fail to
demonstrate the efficacy of Aduro’s technology for converting waste
plastics into valuable chemicals; that the design and development
of the HCT Pilot Plant may fail to strengthen Aduro’s path to full
commercialization; that the design for the HCT Pilot Plant may not
be completed on time or at all for various reasons; that the
construction of the HCT Pilot Plant may not proceed as anticipated
or at all for various reasons; that site preparation, training,
materials handling and related activities for development for the
project may fail to occur in a timely manner or at all for various
reasons; that the Company’s technology may fail to be
commercialized for various reasons, including the development of
competing technologies, failure to gain market share or various
other reasons; the plant may lack the anticipated characteristics
for successful commercialization across diverse customer
applications; that Aduro’s existing and prospective collaborators
may choose alternative recycling and feedstock processing
solutions; that Zeton’s engagement may not provide the engineering
capabilities to Aduro as anticipated or may otherwise fail to allow
the Company to accomplish its goals; that the HCT Pilot Plant may
fail to validate the Company’s technology in real-world conditions
and the design and construction of a commercial scale plant may
never be achieved; that the project may fail to establish deeper
relationships with potential strategic partners and leaders in the
plastics industry or position the Company for long term value
creation; that the Company’s project may fail to manifest as a
sustainable and impactful technology that addresses global
environmental challenges; and that the Company’s project may fail
for various other reasons, including adverse market conditions
and/or 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/0a4456a8-628e-4a25-85ec-208afa35906b
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