Aduro Clean Technologies recently reported $340,000 in revenue with a net loss of $7.4 million over the last year. The company’s market cap stands at $130.9 million.
The IPO was underwritten by Craft Capital Management and EF Hutton.
Aduro Clean Technologies, a Canadian firm, is moving to uplist on NASDAQ. They also trade on the Canadian Securities Exchange as “ACT” and on the OTC as “ACTHF.” Founded in British Columbia, they focus on chemical recycling technologies, offering three main solutions: Hydrochemolytic™ Plastics Upcycling, Hydrochemolytic™ Bitumen Upgrading, and Hydrochemolytic™ Renewables Upgrading. They hold eight patents—seven granted and one pending—showcasing their innovative tech. Their business model focuses on licensing, royalties, and R&D, aiming to develop partnerships through demonstration projects.
Aduro’s technology converts low-value materials into higher-value chemical products. They are currently scaling up for commercial processes and addressing challenges such as solid feedstock handling and regulatory uncertainties. Their goal is to engage with potential customers and partners to guide their development process. As of now, they have no formal partnership agreements but are active in discussions.
Note: The financial data is for the year ending May 31, 2024. Aduro plans to offer 1.1 million shares priced between $4.25 and $5.00 to raise approximately $5.08 million for their NASDAQ uplisting.
Aduro Clean Technologies was founded in 2011 and employs 25 people, located at 542 Newbold St., London, Ontario. Contact them at (604) 362-7011 or visit adurocleantech.com.
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