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LONDON, Ontario, Sept. 05, 2024 (GLOBE NEWSWIRE) — Aduro Clean Technologies Inc. („Aduro“ or the “Pursue“) (CSE: ACT) (OTCQX: ACTHD) (FSE: 9D5), a clean technology company harnessing the power of chemistry to transform low-value feedstocks such as waste plastics, heavy bitumen and renewable oils into 21st century resources, today announced a new patent application for a new technology to convert renewable oils and certain waste plastics into higher-value platform chemicals.
“The new patent application is a significant step forward towards one of the main goals Aduro set earlier this year, namely expanding the company’s technological position and intellectual property,” said Ofer Vicus, CEO of Aduro. “It underscores the ability and commitment of our scientists to create value through innovative solutions and allows us to explore new potential market opportunities. This success also underlines our commitment to developing and commercializing sustainable technologies aimed at addressing growing global environmental and circular economy concerns.”
This new patent application presents an innovative and efficient process for producing alkyl aromatic compounds, including benzene, toluene, xylene (BTX) and ethylbenzene, from plastic waste and renewable oils. Not only is this process simpler, more efficient and less expensive than traditional BTX production from refined petroleum, it also builds on the Company’s previously developed and patented thermocatalytic deoxygenation (TCD) technology for upgrading renewable oils. In addition, it leverages lessons learned from the Company’s experience with Hydrochemolytic™ technology (HCT) for chemical recycling of plastic waste, resulting in a robust solution that improves circularity and sustainability.
BTX compounds are essential building blocks for a wide range of high-value chemicals and materials, including plastics, paints, sealants, coatings, and pharmaceuticals. Aromatic chemicals such as BTX are important building blocks, accounting for 40% of petrochemical production by volume. According to Reports and Data, the global BTX market is expected to reach a potential of $274.78 billion by 2027. With increasing demand, especially in emerging markets, technological innovation and sustainability are becoming increasingly important.
Aduro’s invention, which produces BTX from renewable sources and waste, could represent a breakthrough opportunity for sustainable chemical production. This innovation not only aims to reduce dependence on petroleum but also promote the circular economy in industry.
“This new patent application formally expands Aduro’s Clean Technologies theme beyond its unique Hydrochemolytic™ technology platform. It is an important signal of the company’s mission and the ability of our scientists and engineers to continue to develop new technologies,” said Marcus Trygstad, co-founder and chief scientist at Aduro. Trygstad added, “This new innovation underscores Aduro’s commitment to becoming a force in sustainability, transforming plastic waste and renewable feedstocks into materials needed by society. That is who we are and what we do.”
This advancement is an important step for Aduro on the path to a circular economy in the chemical sector. Aduro’s innovation offers a promising sustainable method of producing BTX and aims to open up new opportunities to meet the increasing industry demand for low-carbon chemical production. With increasing pressure to decarbonize, this technology enables the company to find new ways to address these critical challenges.
About Aduro Clean Technologies
Aduro Clean Technologies develops patented water-based technologies to chemically recycle plastic waste, convert heavy crude oil and bitumen into lighter, more valuable oil, and convert renewable oils into higher-value fuels or renewable chemicals. The company’s Hydrochemolytic™ technology relies on water as the critical active ingredient in a chemical platform that operates at relatively low temperatures and costs. This is a groundbreaking approach that transforms low-value raw materials into resources for the 21st century.
For further information please contact:
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 226 784 8889
KCSA Strategic Communications
Jack Perkins, Vice President
aduro@kcsa.com
Forward-looking statements
This press release contains forward-looking statements. All statements that are not historical facts but relate to activities, events or developments that the Company believes, expects or predicts will or may occur in the future are forward-looking statements. The forward-looking statements reflect management’s current expectations based on information currently available to it. They are subject to a number of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. Forward-looking statements in this press release include, among others, that the patent application represents a significant advancement in advancing the Company’s technology and intellectual property; the Company’s ability and commitment to create value through innovative solutions; the intention to explore new potential market opportunities; the Company’s commitment to developing and commercializing sustainable technologies; that the patent application will result in the patent being granted and will represent an innovative and efficient process for converting compounds from plastic waste and renewable oils; that the patent, if granted, will be a simpler, more efficient and less expensive technology compared to traditional processes; that the patent builds on and leverages the Company’s previously developed technologies; that markets for the technology will grow as expected, particularly in emerging markets; that the patent represents a transformative opportunity for sustainable chemical production, enabling it to reduce dependence on petroleum and promote circularity in industry; that the patent will be a significant step for the Company towards circularity in the chemical industry; that the Company intends to become a force in sustainability; that the patent will enable the Company to explore new ways to address the challenges of decarbonization; that the patent will be granted and commercialized. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance. Undue reliance should not be placed on these statements due to the uncertainties involved. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, the various factors that could prevent or delay the issuance of the patent, including that the patent examination determines that the legal requirements for a patent in this case are not met or that the patent infringes existing patents of others or may not be granted for other reasons; that the patent, if granted, may not provide a solution that is commercially viable or generally accepted for various reasons; that alternative technologies may be developed by competitors that are better or preferable for various reasons; that the patent may not provide the solution to existing problems expected by the Company; that progress in developing and commercializing the Company’s technology may not continue as expected or at all for various reasons, including the development of new competing technologies or for other reasons; that the Company’s business strategy may not provide a framework for commercializing the proposed patent and other technologies as expected or at all; that the Company may not succeed in commercializing its technology or that its technology may not be commercially accepted for various reasons; that other unexpected adverse market conditions may adversely affect the Company and its progress, including adverse market conditions and other factors beyond the control of the parties. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has neither reviewed nor approved nor disapproved the contents of this press release.
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