ADURO CLEAN TECHNOLOGIES Business Summary

Aduro Clean Technologies Inc. (ADUR) operates a proprietary chemical recycling platform centered on its patented Hydrochemolytic™ Technology (HCT), which utilizes water as a chemical agent to transform lower-value feedstocks into high-value resources. The company generates revenue through three primary business segments: Hydrochemolytic Plastics Upcycling (HPU) for mixed waste plastics, Hydrochemolytic Renewables Upgrading (HRU) for bio-oils, and Hydrochemolytic Bitumen Upgrading (HBU) for heavy crude. While current income is primarily derived from non-recurring Customer Engagement Programs for technology evaluation, Aduro’s commercial roadmap employs a dual-track model of high-margin technology licensing to global petrochemical and EPC players alongside a "build-own-operate" (BOO) strategy for localized waste streams. Relative to direct competitors such as PureCycle Technologies, Agilyx, and Loop Industries, Aduro positions itself as a capital-light alternative that operates at lower temperatures and maintains a higher tolerance for contaminated, multi-layer feedstocks compared to traditional pyrolysis methods. The company was co-founded in 2011 by CEO Ofer Vicus, an expert in alternative petrochemical processes, and Principal Scientist Marcus Trygstad, who leads the technical development of the HCT platform. The executive leadership team includes CFO Mena Beshay, who manages capital strategy and the company's recent US$20 million public offering, and COO David Weizenbach, an engineering veteran appointed in 2025 with over 30 years of experience including senior roles at NOVA Chemicals. Chief Scientist Anil Jhawar and Chief Revenue Officer Eric Appelman round out the management core. Aduro’s strategic direction is supported by a board featuring chemical industry veteran Marie Grönborg and is backed by notable institutional investors including Empery Asset Management, Two Sigma Investments, and UBS Group. As of February 2026, the leadership is focused on transitioning from its Next Generation Process (NGP) Pilot Plant to its first industrial-scale demonstration facility at the Chemelot Industrial Park in the Netherlands.