Aduro Clean Technologies Reports First Quarter Fiscal Year 2027 Results and Provides Business Update
Key Highlights
- ➤Cash position $65.7 million, up 72% from $38.3 million sequentially
- ➤U.S. offering and Canadian placement generated approximately $28.9 million net proceeds
- ➤75-hour NGP campaign produced condensable hydrocarbon yields of 88.8%-90.8%
- ➤Q1 revenue nil, while Adjusted EBITDA loss widened 21% to $(2,734,587)
- ➤Saipem selected for FOAK Plant Early Works engineering and procurement support
Expert Statements
Ofer Vicus, Chief Executive Officer of Aduro
“During the first quarter of fiscal 2027, Aduro continued to advance and build on its progress at both the NGP Pilot Plant and across other areas, including engineering, feedstock, and commercial activities necessary for industrial deployment.”
Ofer Vicus, Chief Executive Officer of Aduro
“Successive operating campaigns are producing practical knowledge around process control, feedstock response and product performance.”
Ofer Vicus, Chief Executive Officer of Aduro
“This information is now flowing directly into the Early Works program with Saipem for the planned FOAK Plant at Chemelot.”
Ofer Vicus, Chief Executive Officer of Aduro
“During the quarter, we also strengthened the project-delivery framework in Europe, advanced feedstock logistics planning and expanded development programs with industry participants across waste plastics and petroleum applications.”
Ofer Vicus, Chief Executive Officer of Aduro
“Following quarter-end, we extended the NGP operating program through a 75-hour campaign across changing polypropylene and polyethylene compositions, generating additional data on yield, process response and product consistency.”
Ofer Vicus, Chief Executive Officer of Aduro
“At the same time, our engagement with Chemical Recycling Europe, PepsiCo and participants at IRPC is helping connect technology development with the requirements of the industries and value chains we intend to serve.”
Ofer Vicus, Chief Executive Officer of Aduro
“Our approach remains disciplined: focus on execution, generate the necessary operating data and use those results to guide engineering decisions, and advance commercial pathways.”
Mena Beshay, Chief Financial Officer of Aduro
“These financings provide additional resources to advance defined priorities across NGP operations, FOAK engineering and development, research and development, and broader commercialization activities.”
Mena Beshay, Chief Financial Officer of Aduro
“We remain focused on disciplined deployment of capital against technical, engineering and project milestones as the Company progresses through fiscal 2027.”
LONDON, Ontario, Oct. 16, 2026 (GLOBE NEWSWIRE) -- Aduro Clean Technologies Inc. (“Aduro” or the “Company”) (Nasdaq: ADUR) (TSX: ACT) (FSE: 9D5), a clean technology company using the power of chemistry to transform lower value feedstocks, like waste plastics, heavy bitumen, and renewable oils, into resources for the 21(st) century, has filed its interim condensed consolidated financial results for the three months ended August 31, 2026, and is pleased to provide the following highlights. Unless otherwise indicated, all financial information in this press release is reported in Canadian dollars.
“During the first quarter of fiscal 2027, Aduro continued to advance and build on its progress at both the NGP Pilot Plant and across other areas, including engineering, feedstock, and commercial activities necessary for industrial deployment,” said Ofer Vicus, Chief Executive Officer of Aduro. “Successive operating campaigns are producing practical knowledge around process control, feedstock response and product performance. This information is now flowing directly into the Early Works program with Saipem for the planned FOAK Plant at Chemelot. During the quarter, we also strengthened the project-delivery framework in Europe, advanced feedstock logistics planning and expanded development programs with industry participants across waste plastics and petroleum applications.”
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