Aduro Clean Technologies generated $340,000 in revenue and reported a net loss of $7.4 million over the last year, with a market capitalization of $130.9 million.
The IPO underwriters were Craft Capital Management and EF Hutton.
Aduro Clean Technologies, a Canadian company based in Ontario, is focused on chemical recycling technology and plans to uplist to NASDAQ. Their stock currently trades on the Canadian Securities Exchange (ACT), OTC (ACTHF), and Frankfurt (9D50). The company has three unique technologies for recycling plastics, upgrading bitumen, and improving renewable resources, supported by eight patents.
With a business model centered on licensing and R&D, Aduro aims to partner with others through demonstration projects to validate their technology. They face challenges in commercializing their technology due to potential performance issues and competition, but they are engaging potential customers to guide development.
Aduro was founded in 2011 and has 25 employees. The company is located at 542 Newbold St., London, Ontario, Canada. For more information, visit adurocleantech.com or call (604) 362-7011.
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