Aduro Clean Technologies recently reported $340,000 in revenue and a net loss of $7.4 million over the past year. The company has a market cap of $130.9 million.
Craft Capital Management and EF Hutton were the underwriters for their IPO.
Aduro Clean Technologies, based in Canada, is moving to list on NASDAQ from the Canadian Securities Exchange (symbol: “ACT”) and OTC (symbol: “ACTHF”). The company specializes in chemical recycling with three main technologies: Plastics Upcycling, Bitumen Upgrading, and Renewables Upgrading. They have eight U.S. patents (seven granted, one pending) to support their business model focused on licensing and research.
The company aims to develop commercial partnerships by conducting demonstration projects to validate their technology. Their Hydrochemolytic™ Technology transforms lower-value materials into higher-value products, and they plan to scale their technology for commercial applications in plastics and bitumen.
Despite facing challenges, such as securing funding and untested technology, Aduro is engaging with potential customers for feedback and support. Founded in 2011, the company has 25 employees and is located at 542 Newbold St., London, Ontario.
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