Aduro Clean Technologies (ACT) Registration filing summary

Company overview and business model

• Early-stage Ontario-based clean technology company focused on chemical recycling via its proprietary Hydrochemolytic Technology (HCT) platform, targeting plastics upcycling, bitumen upgrading, and renewables upgrading.

• Business model centers on licensing, royalties, and R&D, with ongoing evaluation of direct operation and joint ventures.

• Commercialization strategy involves demonstration projects and partnerships, with a focus on integrating technology into existing infrastructure.

• NGP Pilot Plant commissioning is underway, with demonstration plant construction planned for early 2026 and commissioning in 2027.

Financial performance and metrics

• Negative cash flows from operating activities: $(8,983,851) for the year ended May 31, 2025, and $(2,604,622) for the three months ended August 31, 2025.

• Anticipates continued negative cash flows from operations in future periods.

• Research and development costs for recent milestones were funded from existing cash resources, not from prior offering proceeds.

Use of proceeds and capital allocation

• Up to US$60 million in securities may be offered over a 25-month period.

• Proceeds may fund negative operating cash flows, R&D, demonstration plant construction, and general corporate purposes.

• More than 10% of net proceeds may be allocated to R&D; actual allocation will depend on operational priorities and market conditions.

• Major costs for the NGP Pilot Plant (~$4.1M) have already been incurred using cash on hand.