Aduro Clean Technologies (Uplisting) reported $340,000 in revenue and a net loss of $7.4 million over the past year, with a market cap of $130.9 million. Craft Capital Management and EF Hutton were the underwriters for the IPO.
The company describes itself as a Canadian developer of chemical recycling technologies, already trading on the Canadian Securities Exchange (ACT), OTC (ACTHF), and Frankfurt Exchange (9D50). They specialize in Hydrochemolytic™ technologies for plastics, bitumen, and renewable oil upgrading, holding eight U.S. patents (seven granted, one pending).
Aduro’s business model focuses on licensing and partnerships while exploring various operational models. They aim to demonstrate their technology through strategic partnerships to validate its applications in recycling and upgrading processes, which could lead to commercialization.
Founded in 2011 and based in Ontario, Aduro has faced challenges, including scaling up their technology, handling contaminated feedstocks, and navigating regulatory landscapes. They have engaged with potential customers for feedback but do not yet have formal partnerships. They are offering 1.1 million shares for $4.25 to $5.00 to raise $5.08 million as part of their NASDAQ uplisting.
Aduro Clean Technologies has 25 employees and is located at 542 Newbold St., London, Ontario. Contact them at (604) 362-7011 or visit their website at www.adurocleantech.com.
Stay Updated on Aduro Clean Technologies (Uplisting) – Sign up for MarketBeat.com’s FREE daily newsletter for the latest news and ratings.
`
