Aduro Clean Technologies reported $340,000 in revenue and a net loss of $7.4 million over the last year. The company has a market cap of $130.9 million.
Craft Capital Management and EF Hutton underwrote their IPO.
For its IPO, Aduro Clean Technologies describes itself as a Canadian developer of chemical recycling technologies, focusing on three main areas: plastics, bitumen, and renewable oil upgrades. The company has eight U.S. patents, seven granted and one pending, and plans to monetize its technology through licensing, royalties, and R&D.
Founded in 2011 and based in Ontario, Aduro employs 25 people. They aim to create partnerships to demonstrate their technology and have been engaging potential customers to guide their technology development. While they’ve had success connecting with organizations, they currently have no formal partnership agreements.
The company is currently offering 1.1 million shares at $4.25 to $5.00 to raise $5.08 million for its uplisting to the NASDAQ. It’s important to note this is a secondary offering since its stock already trades on various exchanges.
For more information, Aduro Clean Technologies is located at 542 Newbold St. London, Ontario, N6E 2S5, Canada. They can be reached at (604) 362-7011 or online at www.adurocleantech.com.
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