Aduro Clean Technologies Announces Partial Exercise of Over-Allotment Option
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 03 2024
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Source: Newsfilter
Public Offering Details: Aduro Clean Technologies Inc. announced the partial exercise of an over-allotment option in its U.S. public offering, resulting in the sale of 1,041,177 common shares for approximately US$4.43 million. The funds will be used for research and development, construction of a new process unit, and general corporate purposes.
Company Overview: Aduro Clean Technologies specializes in patented water-based technologies for recycling waste plastics and converting heavy crude into valuable oil, utilizing its Hydrochemolytic™ technology to transform low-value feedstocks into resources for the future.
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About ADUR
Aduro Clean Technologies Inc. is a Canada-based clean technology company. The Company is a developer of water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil, and transform renewable oils into higher-value fuels or renewable chemicals. Its chemical recycling platform features three water-based technologies, such as Hydrochemolytic Plastics Upcycling (HPU), Hydrochemolytic Renewables Upgrading (HRU) and Hydrochemolytic Bitumen Upgrading (HBU). Its Plastics Upcycling application converts waste plastics into feedstocks for producing new plastics or hydrocarbon fuels. Its HRU transform renewable oils into renewable motor fuels, sustainable aviation fuel (SAF), and specialty chemicals in scalable formats that can be integrated straightforwardly into existing operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
