
Aduro Clean Technologies Achieves Key Milestone in Pilot Plant Design
23.1.2025 13:00:00 CET | GlobeNewswire by notified | Press release
Completion of Basic Design for Hydrochemolytic™ Technology Pilot Plant
LONDON, Ontario, Jan. 23, 2025 (GLOBE NEWSWIRE) -- 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 the successful completion of the Basic Engineering Design phase for its Hydrochemolytic™ Technology (HCT) Next Generation Process (NGP) Pilot Plant, marking a significant milestone in the commercialization of its platform technology.
This milestone marks a pivotal step in Aduro’s journey to commercialize its HCT platform technology. With the NGP Pilot Plant on track for completion in the third quarter of this year, the completion of the Basic Engineering Design represents the culmination of many years of extensive research and development. Aduro has partnered with Zeton, a global leader in modular pilot and demonstration-scale plant design. Together, the two organizations are working diligently to advance the project toward installation and commissioning.
The project has now entered the detailed design phase, where Aduro is leveraging Zeton’s proven expertise in pilot plant engineering, with a specific emphasis on modularity and scalability. The NGP Pilot Plant is positioned to play a pivotal role in supporting Aduro's Customer Engagement Program by highlighting the application of Hydrochemolytic™ Technology on simpler materials that offer near-term commercial viability. Concurrently, the plant will function as a testing and development platform for gaining the necessary expertise to process more challenging, harder-to-recycle, and lower-value feedstocks. This phased approach aligns seamlessly with Aduro’s commercialization strategy, ensuring the technology evolves into a highly adaptable solution capable of addressing a wide range of feedstocks effectively.
The Company has already commenced procurement of critical long-lead equipment and begun preparing the site for the installation of the NGP Pilot Plant, including infrastructure enhancements required for its operation.
Aduro is now expanding its laboratory facilities and office space in London, Ontario, to support the NGP Pilot Plant's operational needs and to accommodate the Company’s growth. These upgrades are designed to ensure the facilities can handle the requirements of the pilot plant while fostering continued growth and innovation.
“This milestone marks a pivotal step in Aduro’s journey to commercialize the Hydrochemolytic™ Technology platform,” said Ofer Vicus, CEO of Aduro. “It represents the realization of a unique solution to one of society’s most pressing challenges – the chemical recycling of hard-to-recycle plastic waste.
“The NGP Pilot Plant, designed entirely with industrial components, will serve as a testing ground for processing a variety of waste streams, generating valuable operational data and insights critical for refining our technology and scaling it for full commercialization.
“For Team Aduro, this marks a pivotal moment that started as an idea and will end with the commissioning of our entirely new NGP process. I extend my heartfelt gratitude to all of our employees who have worked tirelessly to make this milestone possible.”
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, Head of Corporate Development / Investor Relations
ir@adurocleantech.com
+1 226 784 8889
KCSA Strategic Communications
Jack Perkins, Vice President
aduro@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. The forward-looking statements in this release include, but are not limited to, the plan for successful completion of the Basic Engineering Design phase for the Hydrochemolytic™ Technology (HCT) Next Generation Process (NGP) Pilot Plant; that the NGP Pilot Plant is on track for completion in the third quarter of 2025; that the project has now entered the detailed design phase; that the Company will leverage Zeton’s proven expertise in pilot plant engineering in completion of the plant; that the NGP Pilot Plant will play a pivotal role in supporting Aduro's Customer Engagement Program; that the plant will function as a testing and development platform for processing more challenging, harder-to-recycle, and lower-value feedstocks, and ensure that the technology evolves into a highly adaptable solution capable of addressing a wide range of feedstocks effectively; that the plant will serve as a testing ground for processing a variety of waste streams, generating valuable operational data and insights critical for refining the Company’s technology and scaling it for full commercialization; the plan for procurement of critical long-lead equipment; the planned expansion of the Company’s laboratory facilities and office space in London, Ontario. 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, adverse market conditions, delays in completing the Basic Engineering Design phase for the Hydrochemolytic™ Technology (HCT) Next Generation Process (NGP) Pilot Plant, and potential challenges in the detailed design phase; risks related to relying on Zeton’s expertise in pilot plant engineering, the ability of the NGP Pilot Plant to support Aduro's Customer Engagement Program, and the effectiveness of the plant as a testing and development platform for processing more challenging feedstocks; risks related to procurement delays of critical long-lead equipment, and risks related to the successful expansion of the Company’s laboratory facilities and office space in London, Ontario; risks that the plant may not be developed as planned or at all, that it may not provide the anticipated benefits in validating the commercialization of the technology, or that there may be delays or other unforeseen issues that could impact the project's timeline and success, including potential 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28980950-7c0a-4aa4-af07-fc0d77faff78
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release
Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a
DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release
Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68
Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release
Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.
Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release
AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us
Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release
VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin