SARNIA, Ontario, June 29, 2022 (GLOBE NEWSWIRE) — Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: LAW) ( ACTHF) (ESF: 9D50), a Canadian developer of patented water-based technologies to chemically recycle plastics and transform heavy, renewable crude oils into new-age resources and higher-value fuels, announces the expansion of its laboratory facilities to accelerate its research and scaling capabilities and to increase its ability to host trials and demonstrations with potential customers.
The expanded lab is located in the Newbold Business Park in London, Ontario. The multi-tenant complex is zoned light industrial. The 4,371 feet2 The facility will house renovated offices, modern laboratory space, new additional analytical equipment and will house the Hydrochemolytic™ (“R2 Plastics”) continuous-flow plastics upgrading reactor.
The Company is committed Rally Engineering Inc. and Endri Poletti Architect Inc. to facilitate needs assessment, space design and planning, engineering, site permitting, project management and construction administration of the new facility. This new facility will more than double the size of Aduro’s research footprint and is expected to be completed in late summer 2022.
The new space will be dedicated to:
- Operate long term tests on a variety of raw materials.
- Analyze and optimize collection product flows.
- Hosting customer trials and demonstrations; and
- Core research and development of Hydrochemolytic™ technology to further expand patent portfolio
In line with the company’s strategy for early-stage customer engagement through the established customer test program, the facility will begin serving customers following configuration, testing and commissioning of the R2 Plastics reactor. expected early in the fourth quarter of 2022.
“The new lab will strengthen our ability to accelerate our technology development and support our customer engagement program,” said Ofer Vicus, President and CEO of Aduro. and changing market needs and provides the opportunity to create a pipeline for future business projects and engagements.
The Company also announces that it has entered into an investor relations agreement with Investment Publishing LLC to provide financial advisory and investor relations services. The consulting agreement provides for fees of CA$8,000 per month. The duration of the services begins on June 30, 2022 and will continue on a monthly basis for a period of 12 months. Either party may terminate the Agreement upon 30 days written notice. The director of Investment Publishing LLC was previously granted 150,000 stock options in the company under an advisory agreement for his consulting services, which was announced by the company on June 20, 2022 Options vest monthly in equal installments over 12 months.
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle plastic waste; convert heavy crude and bitumen into lighter, more valuable oil; and turn renewable oils into more valuable fuels or renewable chemicals. The company’s Hydrochemolytic™ technology activates the unique properties of water in a chemical platform that operates at relatively low temperatures and costs, a revolutionary approach that converts low-value raw materials into 21st century resources. With funding and support from Bioindustrial Innovation Canadathe company has developed a pre-pilot reactor system to turn heavy oil into lighter oil.
For more information, please contact:
Ofer Vicus, CEO
Abe Dyck, Investor Relations
Investor Cubed Inc.
Neil Simon, CEO
+ 1 647 258 3310
This press 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. Forward-looking statements reflect management’s current expectations based on currently available information and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Although the Company believes that the assumptions inherent in forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed 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 statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
CSE has not reviewed, approved or disapproved of the contents of this press release.
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