Aduro Clean Technologies Closes $20 Million Public Offering to Fund Clean Technology Expansion

Aduro Clean Technologies Inc. has successfully closed an underwritten U.S. public offering, raising approximately $20 million in gross proceeds before accounting for underwriting discounts and offering expenses. The clean technology company, which trades on NASDAQ under the symbol ADUR, issued 1,739,130 common shares along with accompanying warrants to purchase an additional 869,565 common shares. Each common share in the offering included one-half warrant, with whole warrants immediately exercisable at $16.00 per share and expiring three years from issuance.

The capital raised through this offering is earmarked primarily to support the construction of Aduro's Demonstration-Scale Plant, a critical milestone in advancing the company's patented Hydrochemolytic™ Technology. This innovative approach uses water-based chemical processes to convert lower-value feedstocks—including waste plastics, heavy bitumen, and renewable oils—into higher-value resources. The technology operates at relatively low temperatures and costs, positioning it as a potentially transformative solution for waste management and resource recovery. Additional proceeds will be allocated to research and development initiatives, general corporate purposes, and working capital needs.

D. Boral Capital LLC served as the lead underwriter for the offering, with Roth Capital Partners acting as financial advisor. The successful completion of this $20 million financing round underscores investor confidence in Aduro's technology and its potential to address pressing environmental challenges. By converting waste plastics and other materials into valuable products, the company aims to contribute to a circular economy while reducing reliance on virgin resources. More information about Aduro's technology and corporate developments can be found at https://www.adurocleantech.com/.

The offering represents a strategic move to accelerate the commercialization of Aduro's clean technology platform. As global demand for sustainable waste solutions grows, the company's ability to scale its operations through this funding could enhance its competitive position in the clean tech sector. The Hydrochemolytic™ Technology's focus on chemical recycling aligns with increasing regulatory and consumer pressures to reduce plastic pollution and improve resource efficiency. For further details on the offering, the full press release is available at https://ibn.fm/LP3hQ.

Aduro's approach distinguishes itself by leveraging water as a critical agent in its chemical processes, which may offer environmental and economic advantages over traditional methods. The funding will enable the company to demonstrate the scalability of its technology, potentially paving the way for broader industrial adoption. As Aduro progresses with its Demonstration-Scale Plant, the outcomes could influence investment and innovation trends in the clean technology landscape, highlighting the role of chemistry-based solutions in sustainable development.