There’s a new Canadian company on the Nasdaq. And they’re aiming to change the future of plastic waste feedstock.
What’s happening:
- Aduro Clean Technologies (NASDAQ: ADUR) has officially raised $4.25M USD and successfully completed an uplisting onto the Nasdaq
The big idea:
- Aduro Clean Technologies has developed an innovative process for recycling plastics and converting them into more valuable chemicals and fuel
- Aduro Clean Technologies’ patented process known as Hydrochemolytic technology converts up to 95% of plastic waste feedstock into hydrocarbon products which can subsequently be used to produce new plastics or chemicals
Why it matters:
- Low carbon fuel has been an emerging trend in the public markets of late, with more companies making breakthroughs for the commercial production of sustainable aviation fuel and synthetic diesel fuel at scale
Going deeper:
- French petroleum giant TotalEnergies previously partnered with Aduro Clean Technologies on developing new processes for waste plastic materials, including feedstocks that are exceptionally hard to recycle and materials with high concentrations of metals
The intrigue:
- Aduro Clean Technologies can also use their Hydrochemolytic technology to convert heavy crude oil into various types of renewable products
