LONDON, Ontario, March 05, 2024 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (CSE: ACT) (OTCQX: ACTHF) (FSE: 9D50), a Canadian technology company using the power of chemistry to transform lower value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21st century, is excited to announce the onboarding of a leading, global multinational food packaging company (“MFP Company” or the “Client”) to its Customer Engagement Program (CEP).
MFP Company is a prominent player in the global food processing and distribution sector, boasting an attractive portfolio of well-known brands. It operates in over 15 countries and generates multi-billion-dollar annual revenues. At the core of its operations, MFP Company integrates environmental, social, and governance (ESG) principles, focusing on innovation and efficiency. The company is dedicated to recycling or recovering 90% of its solid waste and aims to reduce plastic use, increase the use of biodegradable and recycled materials, and minimize the use of virgin plastic. MFP Company advocates for a circular economy approach to address packaging pollution, innovating in sustainable packaging design, and advocating for the reuse and recycling of materials. This strategy is in alignment with Extended Producer Responsibility (EPR) principles, underlining its leadership and commitment to minimizing environmental impact and leading the industry towards a more sustainable future.
The technical evaluation project is focused on assessing the potential of Hydrochemolytic™ Technology (HCT) for recycling the Client’s plastic waste from food packaging. Through this collaboration, we will conduct direct tests of HCT on the specific types of plastic waste produced by MFP Company. Our objective is to showcase the technology's effectiveness and gain a deeper understanding of the unique waste management challenges faced by the food industry. The goal is to highlight the advantages of HCT to MFP Company and develop a customized chemical recycling solution tailored to the specific needs for recycling food packaging plastic waste, positioning HCT as a viable solution for advanced recycling in the food industry.
The necessity for such innovative solutions arises from the challenges faced by the food industry in recycling packaging materials through mechanical methods, which often fall short of achieving the required purity and safety standards for materials that come into contact with food. Particularly, recycling multicomponent packaging materials, essential for preserving and safeguarding delicate foods, proves difficult due to their complex nature, rendering them nearly impossible to recycle mechanically. HCT technology emerges as a superior alternative by chemically deconstructing waste plastics to their molecular level, a replacement of virgin fossil-derived materials, ensuring compliance with these standards. Given the food industry's significant contribution to plastic waste, there is a pressing demand for an advanced recycling approach that is both technically viable and economically feasible to recover these materials for reuse. HCT technology stands out as a crucial development in addressing this demand, effectively closing the gap in recycling processes.
Central to Aduro's strategy for growth and commercialization is its CEP, which enables early engagement with stakeholders and partners with a focus on advancing industry specific solutions. The CEP is designed to foster informed technological development, mitigate risks, and drive revenue growth through deep collaboration with companies. It allows for the tailoring of Hydrochemolytic™ Technology to meet specific industry needs, showcasing the company’s commitment to providing adaptable and effective waste management solutions.
“This opportunity to collaborate closely with a leading entity in the food packaging sector extends beyond mere access to waste plastic materials,” remarked Ofer Vicus, CEO. “It grants us invaluable insights into the unique needs and challenges encountered by manufacturers of packaging materials, such as films, containers, pouches, and bottles. This engagement enhances our understanding of their strategies for future planning and allows us to showcase our technological capabilities.” He added, “Furthermore, it aligns perfectly with our objective to connect with companies throughout the entire value chain.”
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 relies on water as a critical agent in a chemistry platform that operates at relatively low temperatures and cost, a game-changing approach that converts low-value feedstocks into resources for the 21st century.
For further information, please contact:
Ofer Vicus, CEO
ovicus@adurocleantech.com
Abe Dyck, Investor Relations
ir@adurocleantech.com
+1 604 362 7011
Arrowhead
Thomas Renaud, Managing Director
enquire@arrowheadbid.com
+1 212 619 6889
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 because 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/df1cdc06-27ae-41e4-9a13-a370a1b5ddc8
