SARNIA, Ontario, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: ACT) (OTCQB: ACTHF) (FSE: 9D50), a Canadian developer of patented water-based technologies to chemically recycle plastics and to transform heavy crude and renewable oils into new-era resources and higher-value fuels, in partnership with the University of Western Ontario (“Western University”) is pleased to announce that a joint research project entitled "Tuning Supercritical Fluids for Polymer Recycling to Monomers and Chemicals” has been approved and awarded $1.15 million in non-repayable funds by the National Sciences and Engineering Research Council ("NSERC") Alliance and Mitacs Accelerate Grants Program (“Mitacs”).
Over the duration of the project, Aduro will contribute $382,500 (plus HST) with NSERC and Mitacs contributing a total of $1,147,500. This represents a three-to-one ratio of non-dilutive matching of funds directed to supporting and accelerating the Company’s path to commercialization. The research project will commence in November 2022 and will continue for three years.
The objective of this research project is to evaluate the effects of intrinsic and extrinsic contaminants present in plastic feedstocks including food, organic waste, plasticizers, and fillers, under varying conditions to maximize output, quality, and yield. The project also aims to improve pre-and post-processing techniques. The commercial goal is to be able to develop optimal strategies that will minimize the need for expensive sorting and separation systems for pre-processing treatment. The project is expected to advance and further augment the Hydrochemolytic™ (“HCT”) process for chemical recycling of mixed post-consumer industrial and consumer plastics.
In collaboration with the Aduro research team, the project will be led by Dr. Paul Charpentier, Professor in the Department of Chemical and Biochemical Engineering and Mechanical and Materials Engineering, at Western University along with the support of Dr. Cedric L. Briens, Professor in the Department of Chemical & Biochemical Engineering, and the Director, R&D, at the Institute for Chemicals and Fuels from Alternative Resources (ICFAR) at Western University.
In addition to the grant funding, through the partnership with Western University, the project provides very cost-effective access to state-of-the-art laboratory facilities, reactors, and analytical equipment. More importantly, it also provides the Company with a unique opportunity to build its future human capital assets by engaging top talent who will expand their knowledge and expertise in the Company’s patented HCT process through this funded project. Under the leadership of Dr. Charpentier and Dr. Briens, the project will employ over three years: two postdoctoral fellows, three Ph.D. students, five Masters of Engineering, one research engineer, and eight undergraduate students.
All intellectual property generated from the project will be owned by Aduro Energy Inc., the wholly owned subsidiary of the Company; however, in support of the strong partnership with Western University, Aduro will encourage the researchers to publish relevant academic papers once the data is protected.
“The project is a great opportunity to again collaborate with Aduro,” said Dr. Paul Charpentier, Professor at Western University. “The project will also support advanced training of many graduate students and post-doctoral fellows who will be the research and industry leaders of tomorrow in chemical recycling.”
“We are honored and excited to once again collaborate with Western University and professors Dr. Paul Charpentier and Dr. Cedric L. Briens. This project will deliver critical insights and strategies for pre-treatment and post-processing techniques in support of Aduro’s HCT,” commented Ofer Vicus, Chief Executive Officer at Aduro. “On behalf of Aduro, I would like to thank NSERC and Mitacs for their significant contribution and support in advancing our next-generation chemical recycling technology. This grant will employ 18 talented individuals while promoting research in the space, boosting local economic activity, and accelerating Aduro’s commercialization program. I would also like to take this opportunity to extend a call to all researchers globally, who are excited by the opportunity to work on this pioneering project, to contact the project leads.”
About National Sciences and Engineering Research Council ("NSERC") Alliance
NSERC is the major federal agency responsible for funding natural sciences and engineering research in Canada. NSERC provides funding directly to university professors, students, and Canadian companies to perform research and training.
About Mitacs
Mitacs is a non-profit national research organization that, in partnerships with Canadian academia, private industry and government, operates research and training programs in fields related to industrial and social innovation.
About Aduro Clean Technologies
Aduro Clean Technologies is a developer of 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. The Company’s Hydrochemolytic™ technology activates unique properties of water in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into 21st-century resources.
For further information, please contact:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 604-362-7011
Investor Cubed Inc.
Neil Simon, CEO
nsimon@investor3.ca
+ 1 647 258 3310
Forward-Looking Statements
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects or anticipates 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 and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Important factors that could cause actual results to differ materially from the Company’s expectations include adverse market conditions and other factors beyond the control of the parties. The Company expressly 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 not reviewed, approved, or disapproved the content of this news release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4860b5c9-49c0-47f2-aaaf-782e2baa70e7
