Aduro Clean Tech Stock Price, News & Analysis

Aduro Clean Technologies Inc. (CSE: ACT, OTCQB: ACTHF) announced the issuance of 2,075,000 stock options to directors, officers, employees, and consultants, exercisable at $1.00 for five years. Of these, 1,775,000 options will vest monthly over two years, while 300,000 will vest immediately. Additionally, the company awarded 150,000 restricted share units (RSUs) to an officer, which will vest immediately. All options and RSUs are subject to a four-month hold period. The release includes forward-looking statements regarding the vesting schedule and potential market conditions affecting future performance.

Aduro Clean Technologies Inc. (CSE: ACT, OTCQB: ACTHF) announced it has received $1,109,103 from the exercise of warrants and stock options since September 1, 2022. This includes 1,638,390 warrants at $0.50, 118,635 at $0.80, and 300,000 stock options at $0.65, resulting in the issuance of 2,057,025 common shares. The CEO highlighted that these proceeds will support laboratory expansion and ongoing projects, including commissioning continuous flow pilot units.

Aduro Clean Technologies has completed the construction and mechanical assembly of its pilot-scale Hydrochemolytic™ continuous flow plastic reactor, known as R2 Plastic. This reactor is designed to process various plastic feedstocks and evaluate the impact of multilayer materials. Plans for testing and certification by the Technical Standard and Safety Authority are underway, with completion expected soon. In 2023, the company aims to execute a research and testing program for the R2 Reactor, along with scaling up the pre-commercial R3 Reactor unit. Further details are available in a video walk-through.

Aduro Clean Technologies has been accepted into Shell's GameChanger program, which aims to accelerate innovative energy solutions. Their patented Hydrochemolytic™ Technology (HCT) will be utilized to convert hard-to-recycle plastics into sustainable Naphtha Cracker feedstock. Shell will provide non-dilutive funding over six project phases and technical expertise to optimize the technology for commercial use. The 12-month project seeks to minimize developmental risks while advancing Aduro’s goal of contributing to plastic circularity and the energy transition.

Aduro Clean Technologies, developer of patented water-based recycling technologies, has announced a joint research project with the University of Western Ontario. The project, entitled 'Tuning Supercritical Fluids for Polymer Recycling to Monomers and Chemicals', has received $1.15 million in funding from NSERC and Mitacs. Aduro will contribute $382,500. The research aims to enhance the company's Hydrochemolytic™ process by improving plastic feedstock processing and minimizing sorting requirements. The project is set to employ 18 individuals and will last for three years, commencing in November 2022.

Aduro Clean Technologies, trading under the symbol ACTHF, has announced the nearing completion of its pilot-scale Hydrochemolytic^TM continuous flow plastic reactor, R2 Plastic. This unit, designed to process various plastic feedstocks, is set to be commissioned by mid-November 2022. The company is also planning the R3 Plastic unit, with a targeted throughput of 2,000 kg/day, aiming for completion by the end of 2023. These advancements are part of Aduro's strategy to enhance customer engagement and ultimately commercialize its innovative recycling technologies.

Aduro Clean Technologies (OTCQB: ACTHF) has signed a Letter of Intent (LOI) with Prospera Energy (TSX.V: PEI) to develop a pre-commercial pilot plant for converting low API bitumen into higher-value products. The partnership follows Aduro's advancements with its bitumen reactor and outlines an 18-month plan divided into three phases, culminating in the construction of a 50 bbl/day pilot plant by Q2 2024. Prospera will pay Aduro $25,000 CAD monthly for the first phase, aimed at testing feedstocks and evaluating economics.

Aduro Clean Technologies (CSE: ACT, OTCQB: ACTHF) is nearing completion of its pilot-scale Hydrochemolytic™ continuous flow bitumen reactor, known as R2 Bitumen. This advanced reactor is supported by a new Flash Drum vapor-liquid separator to enhance product sample variability for potential clients. The completion of the reactor and Flash Drum is expected by October 2022. Aduro aims to boost customer engagement through its established Customer Trial Program, which provides product analysis and facilitates business discussions. The company is committed to advancing its technology in waste plastics recycling and oil processing.

Aduro Clean Technologies (CSE: ACT, OTCQB: ACTHF) will participate in the Oil Sands Conference & Trade Show on September 14-15, 2022, in Fort McMurray, Alberta. Abe Dyck, VP of Strategy & Business Development, will present on 'Hydrochemolysis: An Innovative And Highly Effective Methodology For Heavy Oil Upgrading And Plastics Upcycling.' This event facilitates networking and showcases advancements in the oil sands sector, focusing on cost reduction and technological innovation in the energy industry.