Aduro Clean Technologies Inc. (NASDAQ:ADUR) announced Thursday that it has started a global site-selection process as part of its Demonstration Plant program, focusing on locations across Canada, Europe, and Mexico.
Aduro Clean develops patented 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.
In the Next Generation Process (NGP) Pilot Plant, Aduro is validating its technical basis for scale-up, confirming key equipment choices, and generating the data needed to optimize scale-sensitive parameters.
The NGP Pilot Plant remains on schedule. In recent months, a multidisciplinary team comprising engineering, operations, finance, and commercial development has advanced the project through a structured review process.
The site-selection project is progressing, and Aduro Clean expects to finalize a shortlist of candidate locations by the end of the calendar year, with a final decision to follow shortly thereafter.
"Advancing site selection is a critical step in the Demonstration Plant program," said Ofer Vicus, Chief Executive Officer. "The process allows Aduro to begin detailed permitting and economic modeling, guided by clear criteria such as feedstock access, logistics, certification readiness, and regional incentives."
In June, Aduro Clean priced its underwritten public offering of 947,868 shares and accompanying warrants to purchase 473,934 common shares. The combined public offering price per common share and accompanying half-warrant is $8.44.
Price Action: ADUR stock is up 2.01% at $17.29 during the premarket session at the last check on Wednesday.
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